| Eden Luxe (One) Ltd |
| Notes to the Accounts |
| for the year ended 30 September 2020 |
|
|
| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
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Work in progress |
|
The company carries forward as work in progress all costs including interest charges, where applicable (at the lower of cost and net realisable value), which are directly related to income that it will receive in the future, from property development sites upon their completion. No attributable profit is taken until the income is received, due to the uncertainty timing and value. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
| 2 |
Employees |
2020 |
|
2019 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
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| 3 |
Debtors |
2020 |
|
2019 |
| £ |
£ |
|
|
Trade debtors |
7,899 |
|
7,899 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
70,000 |
|
34,000 |
|
Other debtors |
6,162 |
|
23,455 |
|
|
|
|
|
|
84,061 |
|
65,354 |
|
|
|
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|
| 4 |
Creditors: amounts falling due within one year |
2020 |
|
2019 |
| £ |
£ |
|
|
Bank loans and overdrafts |
50,000 |
|
- |
|
Trade creditors |
14,931 |
|
10,146 |
|
Other creditors |
11,673 |
|
1,372 |
|
|
|
|
|
|
76,604 |
|
11,518 |
|
|
|
|
|
|
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|
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| 5 |
Other information |
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Eden Luxe (One) Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Sandown Sports Park |
|
More Lane |
|
Esher |
|
Surrey |
|
KT10 8AN |
