Registration number:
Ebac Waterfall Limited
Filleted
for the Year Ended 31 December 2021
Ebac Waterfall Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Ebac Waterfall Limited
Company Information
Director |
J M Elliott MBE |
Company secretary |
Ms A Hird |
Registered office |
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Auditor |
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Ebac Waterfall Limited
(Registration number: 04953653)
Statement of Financial Position as at 31 December 2021
Note |
2021 |
2020 |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
( |
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Total equity |
( |
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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 Income Statement has been taken.
Approved and authorised by the
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Ebac Waterfall Limited
Notes to the Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared on the break up basis.
These financial statements are prepared in sterling which is the functional currency of the entity.
Going concern
At the year end the company had net liabilities of £1,057,100 driven mainly by a bank overdraft. Post year end, as part of a wider group refinancing, the overdraft was repaid in full and replaced by intercompany funding. The financial statements have been prepared on a break up basis as the director does not consider the company to be a going concern.
The company operated a luxury leisure spa and sold beauty products via the company website, however the directors made a decision to close the spa on 16 August 2014. The company had obligations under the lease agreement in place and had the on-going support from associated companies to continue to make the lease payments. The lease expired during the previous year and the company ceased trading.
There has been no financial impairment of the company's assets as a result of a break up basis of valuation.
Ebac Waterfall Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
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Accounting policies (continued) |
Tax
The tax expense for the period comprises deferred 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.Unrelieved tax losses and other deferred tax assets are recognised when 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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Auditor's remuneration |
The audit fee has been borne by an associated company.
Debtors |
2021 |
2020 |
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Other debtors |
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Ebac Waterfall Limited
Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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Amounts owed to group undertakings |
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Contingencies |
The company has entered into a cross-guarantee with Ebac Holdings Limited, Ebac Industrial Products Limited, Ebac Waterfall Limited and Ebac Limited with respect to their banking facilities. At the year end there were £809,920 (2020 - £nil) in respect of these bank guarantees. There is a fixed and floating charge over the undertaking and all property in the form of a debenture dated April 2006.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The most senior parent entity producing publicly available financial statements is
Audit report |