Edenbury Limited - Period Ending 2018-03-31

Edenbury Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2018

Registration number: 04947386

Edenbury Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Edenbury Limited

Company Information

Directors

Mr J W Maker Mr G W Maker Mr L J Maker Mr D J Maker

Company secretary

Mr G W Maker

Registered office

Sigma House Oak View Close Edginswell Park Torquay Devon TQ2 7FF

Accountants

Francis Clark LLP Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF

Page 1

Edenbury Limited

Balance Sheet

31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	14,773	17,379
Investments	4	6	6
		14,779	17,385
Current assets
Stocks		622,858	622,858
Debtors	5	388,975	379,346
Cash at bank and in hand		235	245
		1,012,068	1,002,449
Creditors: Amounts falling due within one year	6	(451,820)	(474,136)
Net current assets		560,248	528,313
Total assets less current liabilities		575,027	545,698
Creditors: Amounts falling due after more than one year	6	(313,185)	(325,571)
Net assets		261,842	220,127
Capital and reserves
Called up share capital		100	100
Profit and loss account		261,742	220,027
Total equity		261,842	220,127

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Edenbury Limited

Balance Sheet

31 March 2018

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 December 2018 and signed on its behalf by:
 

......................................... Mr J W Maker Director

......................................... Mr G W Maker Director

Company Registration Number: 04947386

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

Edenbury Limited

Notes to the Financial Statements

Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF

The principal place of business is:
West Golds Park
Jettymarsh Road
Newton Abbot
Devon
TQ12 2SL

These financial statements were authorised for issue by the Board on 14 December 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents the fair value of consideration receivable, excluding Value Added Tax, in the ordinary course of business for goods and services provided.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Page 4

Edenbury Limited

Notes to the Financial Statements

Year Ended 31 March 2018

Asset class	Depreciation method and rate
Plant and machinery	33% straight line
Fixtures and fittings	15% reducing balance

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

Page 5

Edenbury Limited

Notes to the Financial Statements

Year Ended 31 March 2018

3	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2017	63,780	2,923	66,703
At 31 March 2018	63,780	2,923	66,703
Depreciation
At 1 April 2017	46,401	2,923	49,324
Charge for the year	2,606	-	2,606
At 31 March 2018	49,007	2,923	51,930
Carrying amount
At 31 March 2018	14,773	-	14,773
At 31 March 2017	17,379	-	17,379

4	Investments

	2018 £	2017 £
Investments in associates	6	6

Associates	£
Cost
At 1 April 2017	6
Provision
Carrying amount
At 31 March 2018	6
At 31 March 2017	6

Page 6

Edenbury Limited

Notes to the Financial Statements

Year Ended 31 March 2018

5

Debtors

	2018  £	2017  £
Trade debtors	7,068	15,339
Other debtors	381,907	364,007
	388,975	379,346
Less amounts due after one year	(342,681)	-
	46,294	379,346

Details of non-current trade and other debtors

£342,681 (2017 -£Nil) of loan to a company under the control of one of the directors is classified as non current. Interest is charged on the loan at commercial rates.

6

Creditors

Creditors: amounts falling due within one year

	Note	2018  £	2017  £
Due within one year
Loans and borrowings	7	244,119	253,245
Trade creditors		795	4,471
Corporation tax		10,341	10,059
Social security and other taxes		1,914	3,583
Other creditors		189,419	197,952
Accrued expenses		5,232	4,826
		451,820	474,136

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings	7	313,185	325,571

Page 7

Edenbury Limited

Notes to the Financial Statements

Year Ended 31 March 2018

7	Loans and borrowings

	2018 £	2017 £
Loans and borrowings due after one year
Bank borrowings	313,185	325,571

	2018 £	2017 £
Current loans and borrowings
Bank borrowings	11,800	11,250
Bank overdrafts	66,319	53,995
Other borrowings	166,000	188,000
	244,119	253,245

Bank borrowings

Bank loans are secured on the company's assets.

Included in the loans and borrowings are the following amounts due after more than five years:
 

	2018 £	2017 £
Current loans and borrowings
After more than five years by instalments	263,185	275,571

8	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary A shares of £1 each	75	75	75	75
Ordinary B shares of £1 each	25	25	25	25
	100	100	100	100

Page 8