Ebac Waterfall Limited 04953653 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is the operation of a luxury leisure spa and sale of beauty products via the company website. Digita Accounts Production Advanced 6.30.9574.0 true false false 04953653 2021-01-01 2021-12-31 04953653 2021-12-31 04953653 core:CapitalRedemptionReserve 2021-12-31 04953653 core:RetainedEarningsAccumulatedLosses 2021-12-31 04953653 core:ShareCapital 2021-12-31 04953653 core:CurrentFinancialInstruments 2021-12-31 04953653 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 04953653 bus:SmallEntities 2021-01-01 2021-12-31 04953653 bus:Audited 2021-01-01 2021-12-31 04953653 bus:FullAccounts 2021-01-01 2021-12-31 04953653 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 04953653 bus:RegisteredOffice 2021-01-01 2021-12-31 04953653 bus:CompanySecretary1 2021-01-01 2021-12-31 04953653 bus:Director2 2021-01-01 2021-12-31 04953653 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 04953653 1 2021-01-01 2021-12-31 04953653 countries:EnglandWales 2021-01-01 2021-12-31 04953653 2020-01-01 2020-12-31 04953653 2020-12-31 04953653 core:CapitalRedemptionReserve 2020-12-31 04953653 core:RetainedEarningsAccumulatedLosses 2020-12-31 04953653 core:ShareCapital 2020-12-31 04953653 core:CurrentFinancialInstruments 2020-12-31 04953653 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure

Registration number: 04953653

Ebac Waterfall Limited

Filleted Annual Report and Financial Statements

for the Year Ended 31 December 2021

 

Ebac Waterfall Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 5

 

Ebac Waterfall Limited

Company Information

Director

J M Elliott MBE

Company secretary

Ms A Hird

Registered office

Ketton Way
Aycliffe Industrial Park
Newton Aycliffe
County Durham
DL5 6SQ

Auditor

Azets Audit Services
Chartered Accountants & Statutory Auditor
Bulman House
Regent Centre
Gosforth
Newcastle upon Tyne
NE3 3LS

 

Ebac Waterfall Limited

(Registration number: 04953653)
Statement of Financial Position as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

4

-

73

Creditors: Amounts falling due within one year

5

(1,057,100)

(1,057,121)

Net liabilities

 

(1,057,100)

(1,057,048)

Capital and reserves

 

Called up share capital

100

100

Capital redemption reserve

1,564,497

1,564,497

Profit and loss account

(2,621,697)

(2,621,645)

Total equity

 

(1,057,100)

(1,057,048)

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 director on 12 October 2023
 

.........................................
J M Elliott MBE
Director

 

Ebac Waterfall Limited

Notes to the Financial Statements for the Year Ended 31 December 2021

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 Ketton Way, Aycliffe Industrial Park, Newton Aycliffe, County Durham, DL5 6SQ.

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 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)

2

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 0 (2020 - 0).

3

Auditor's remuneration

The audit fee has been borne by an associated company.

4

Debtors

2021
£

2020
£

Other debtors

-

73

-

73

 

Ebac Waterfall Limited

Notes to the Financial Statements for the Year Ended 31 December 2021 (continued)

5

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Bank loans and overdrafts

995,103

995,124

Amounts owed to group undertakings

61,997

61,997

1,057,100

1,057,121

6

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.

7

Parent and ultimate parent undertaking

The company's immediate parent is Ebac Group Limited, incorporated in England and Wales.

 The ultimate parent is Ebac Holdings Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available financial statements is Ebac Holdings Limited. These financial statements are available upon request from Ketton Way, Aycliffe Industrial Park, Newton Aycliffe, County Durham, DL5 6SR, which is also the registered address of the ultimate parent company.

8

Audit report

The Independent Auditor's Report was unqualified. We draw attention to Note 2 to the financial statements which explains that the director does not consider the company to be a going concern and therefore does not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter. The name of the Senior Statutory Auditor who signed the audit report on 12 October 2023 was Christopher Potter BA (Hons) ACA, who signed for and on behalf of Azets Audit Services. Azets Audit Services is a trading name of Azets Audit Services Limited.