Eaglecrown Associates Limited 3839188 false 2021-03-01 2022-02-28 2022-02-28 The principal activity of the company is Clinical trials Digita Accounts Production Advanced 6.30.9574.0 true true 3839188 2021-03-01 2022-02-28 3839188 2022-02-28 3839188 core:RetainedEarningsAccumulatedLosses 2022-02-28 3839188 core:ShareCapital 2022-02-28 3839188 core:CurrentFinancialInstruments 2022-02-28 3839188 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 3839188 core:WithinOneYear 2022-02-28 3839188 core:FurnitureFittingsToolsEquipment 2022-02-28 3839188 bus:SmallEntities 2021-03-01 2022-02-28 3839188 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 3839188 bus:FullAccounts 2021-03-01 2022-02-28 3839188 bus:SmallCompaniesRegimeForAccounts 2021-03-01 2022-02-28 3839188 bus:RegisteredOffice 2021-03-01 2022-02-28 3839188 bus:Director2 2021-03-01 2022-02-28 3839188 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 3839188 core:FurnitureFittings 2021-03-01 2022-02-28 3839188 core:FurnitureFittingsToolsEquipment 2021-03-01 2022-02-28 3839188 core:OfficeEquipment 2021-03-01 2022-02-28 3839188 1 2021-03-01 2022-02-28 3839188 countries:UnitedKingdom 2021-03-01 2022-02-28 3839188 2021-02-28 3839188 core:FurnitureFittingsToolsEquipment 2021-02-28 3839188 2020-03-01 2021-02-28 3839188 2021-02-28 3839188 core:RetainedEarningsAccumulatedLosses 2021-02-28 3839188 core:ShareCapital 2021-02-28 3839188 core:CurrentFinancialInstruments 2021-02-28 3839188 core:CurrentFinancialInstruments core:WithinOneYear 2021-02-28 3839188 core:WithinOneYear 2021-02-28 3839188 core:FurnitureFittingsToolsEquipment 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3839188

Eaglecrown Associates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

Eaglecrown Associates Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 7

 

Eaglecrown Associates Limited

(Registration number: 3839188)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

145

291

Current assets

 

Debtors

5

39,121

25,304

Cash at bank and in hand

 

41,591

34,293

 

80,712

59,597

Creditors: Amounts falling due within one year

6

(67,455)

(57,746)

Net current assets

 

13,257

1,851

Net assets

 

13,402

2,142

Capital and reserves

 

Called up share capital

7

3

3

Profit and loss account

13,399

2,139

Shareholders' funds

 

13,402

2,142

For the financial year ending 28 February 2022 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 September 2022 and signed on its behalf by:
 

.........................................
Mr M D Read
Director

 

Eaglecrown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Suite 2 Healey House
Dene Road
Andover
Hampshire
SP10 2AA

These financial statements were authorised for issue by the Board on 6 September 2022.

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.

Group accounts not prepared

This company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Eaglecrown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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:

Asset class

Depreciation method and rate

Office Equipment

25% straight line

Fixtures and Fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Eaglecrown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2021 - 4).

 

Eaglecrown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2021

28,621

28,621

Disposals

(139)

(139)

At 28 February 2022

28,482

28,482

Depreciation

At 1 March 2021

28,330

28,330

Charge for the year

146

146

Eliminated on disposal

(139)

(139)

At 28 February 2022

28,337

28,337

Carrying amount

At 28 February 2022

145

145

At 28 February 2021

291

291

5

Debtors

2022
£

2021
£

Trade debtors

28,342

17,716

Prepayments

1,534

1,553

Other debtors

9,245

6,035

39,121

25,304

6

Creditors

Creditors: amounts falling due within one year

 

Eaglecrown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

12,112

9,226

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

29,184

31,384

Taxation and social security

 

17,036

13,267

Accruals and deferred income

 

8,702

3,470

Other creditors

 

421

399

 

67,455

57,746

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary A Shares of £1 each

1

1

1

1

Ordinary Shares of £1 each

2

2

2

2

 

3

3

3

3

8

Financial commitments, guarantees and contingencies

Operating leases

The total of future minimum lease payments is as follows:

2022
£

2021
£

Not later than one year

-

480

9

Related party transactions

During the year, the company made sales of £4,362 (2020: £15,668) to PRN Clinical Services Limited. PRN Clinical Services Limited is a fellow subsidiary of PRN Holdings Limited.

At the year end £31,384 (2021: £31,384) was owed to PRN Clinical Services Limited.

 

Eaglecrown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

10

Parent and ultimate parent undertaking

The company's immediate parent is PRN Holdings Limited, incorporated in United Kingdom.

  These financial statements are available upon request from Suite 2, Healey House, Dene Road, Andover, Hampshire, SP10 2AA