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REGISTRAR OF COMPANIES

Registration number: 06314579

Eden Nuclear and Environment Ltd.

Unaudited Financial Statements

31 July 2023

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Eden Nuclear and Environment Ltd.

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Eden Nuclear and Environment Ltd.
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eden Nuclear and Environment Ltd. for the year ended 31 July 2023 as set out on pages 2 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Eden Nuclear and Environment Ltd., as a body, in accordance with the terms of our engagement letter dated 14 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of Eden Nuclear and Environment Ltd. and state those matters that we have agreed to state to the Board of Directors of Eden Nuclear and Environment Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eden Nuclear and Environment Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Eden Nuclear and Environment Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Eden Nuclear and Environment Ltd.. You consider that Eden Nuclear and Environment Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Eden Nuclear and Environment Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

14 November 2023

 

Eden Nuclear and Environment Ltd.

(Registration number: 06314579)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

213,283

220,802

Investments

5

2

2

Other financial assets

6

2

-

 

213,287

220,804

Current assets

 

Stocks

876

719

Debtors

7

355,556

412,380

Cash and cash equivalents

 

1,150,888

1,041,555

 

1,507,320

1,454,654

Creditors: Amounts falling due within one year

8

(727,291)

(762,453)

Net current assets

 

780,029

692,201

Total assets less current liabilities

 

993,316

913,005

Creditors: Amounts falling due after more than one year

8

(104,660)

(112,946)

Provisions for liabilities

(1,943)

(2,166)

Net assets

 

886,713

797,893

Capital and reserves

 

Allotted, called up and fully paid share capital

111

111

Share premium reserve

34,155

34,155

Reserve for own shares

9

(627,447)

(471,659)

Profit and loss account

1,479,894

1,235,286

Total equity

 

886,713

797,893

 

Eden Nuclear and Environment Ltd.

(Registration number: 06314579)
Balance Sheet as at 31 July 2023 (continued)

For the financial year ending 31 July 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 November 2023 and signed on its behalf by:
 

.........................................

Dr A J Baker

Director

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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:
Unit 1 Mereside
Greenbank Road
Eden Business Park
PENRITH
CA11 9FB

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 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 rates prevailing on the initial transaction dates.

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

Tax

The tax expense for the period comprises current and 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.

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

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.

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.

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

Land & buildings

2% straight line

Furniture, fittings and office equipment

25% reducing balance

Investments

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

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 the sale of goods 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.

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

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.

Financial instruments

Classification
Equity shares and debt securities
 Recognition and measurement
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 Impairment
For instruments measured at cost less impairment the impairment is the difference between the assets' carrying amount and the best estimate the entity would receive for the asset if it were sold at the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 19 (2022 - 19).

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

4

Tangible assets

Land and buildings
£

Furniture, fittings and office equipment
 £

Total
£

Cost or valuation

At 1 August 2022

215,301

39,079

254,380

Additions

-

2,196

2,196

Disposals

-

(3,066)

(3,066)

At 31 July 2023

215,301

38,209

253,510

Depreciation

At 1 August 2022

10,765

22,813

33,578

Charge for the year

4,306

4,632

8,938

Eliminated on disposal

-

(2,289)

(2,289)

At 31 July 2023

15,071

25,156

40,227

Carrying amount

At 31 July 2023

200,230

13,053

213,283

At 31 July 2022

204,536

16,266

220,802

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

5

Investments

2023
£

2022
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 August 2022

2

At 31 July 2023

2

Provision

Carrying amount

At 31 July 2023

2

At 31 July 2022

2

6

Other financial assets (current and non-current)

2023
£

2022
£

Non-current financial assets

Financial assets at cost less impairment

2

-

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

2

2

At 31 July 2023

2

2

Impairment

Carrying amount

At 31 July 2023

2

2

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

7

Debtors

2023
£

2022
£

Trade debtors

283,620

371,434

Other debtors

71,936

40,946

355,556

412,380

8

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

8,285

8,030

Trade creditors

 

99,293

109,473

Taxation and social security

 

118,195

122,272

Corporation tax liability

 

72,410

61,834

Other creditors

 

429,108

460,844

 

727,291

762,453

Due after one year

 

Loans and borrowings

10

104,660

112,946

2023
£

2022
£

After more than five years by instalments

68,793

78,186

68,793

78,186

9

Reserves

The company has established an Employee Benefit Trust (the Trust) for the benefit of its employees. As the company has control over the activities of the Trust the company has recognised the assets and liabilities of the Trust within its own accounts. In the 22/23 Financial year the company made a contribution to the Trust of £155,788 which was used to purchase 11,343 equity shares of the company. As these equity shares have not been vested in the names of employees at the year end the cost has been included in a separate reserve - Reserve for own shares. The Trust has also waived £19,037 (2022 - £14,219) of dividends during the year.

 

Eden Nuclear and Environment Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023 (continued)

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

8,285

8,030

Current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

8,285

8,030

Bank borrowings are secured by fixed and floating charges over the company's assets.

 

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

104,660

112,946

Non-current loans and borrowings includes the following liabilities, on which security has been given by the company:

2023
£

2022
£

Bank borrowings

104,660

112,946

Bank borrowings are secured by fixed and floating charges over the company's assets.

 

11

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £7,078 (2022 - £7,079).