M J Eagland Limited 4562624 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is theatre lighting design and installation Digita Accounts Production Advanced 6.30.9574.0 true true 4562624 2022-08-01 2023-07-31 4562624 2023-07-31 4562624 bus:OrdinaryShareClass1 2023-07-31 4562624 core:RetainedEarningsAccumulatedLosses 2023-07-31 4562624 core:ShareCapital 2023-07-31 4562624 core:CurrentFinancialInstruments 2023-07-31 4562624 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 4562624 core:Non-currentFinancialInstruments 2023-07-31 4562624 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 4562624 core:OtherPropertyPlantEquipment 2023-07-31 4562624 1 2023-07-31 4562624 bus:SmallEntities 2022-08-01 2023-07-31 4562624 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 4562624 bus:FullAccounts 2022-08-01 2023-07-31 4562624 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 4562624 bus:RegisteredOffice 2022-08-01 2023-07-31 4562624 bus:Director1 2022-08-01 2023-07-31 4562624 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 4562624 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 4562624 core:ComputerEquipment 2022-08-01 2023-07-31 4562624 core:PlantMachinery 2022-08-01 2023-07-31 4562624 1 2022-08-01 2023-07-31 4562624 countries:EnglandWales 2022-08-01 2023-07-31 4562624 2022-07-31 4562624 core:OtherPropertyPlantEquipment 2022-07-31 4562624 2021-08-01 2022-07-31 4562624 2022-07-31 4562624 bus:OrdinaryShareClass1 2022-07-31 4562624 core:RetainedEarningsAccumulatedLosses 2022-07-31 4562624 core:ShareCapital 2022-07-31 4562624 core:CurrentFinancialInstruments 2022-07-31 4562624 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 4562624 core:Non-currentFinancialInstruments 2022-07-31 4562624 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 4562624 1 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 4562624

M J Eagland Limited

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

M J Eagland Limited

(Registration number: 4562624)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Debtors

5

3,606

5,636

Cash at bank and in hand

 

9,223

15,709

 

12,829

21,345

Creditors: Amounts falling due within one year

6

(4,605)

(6,262)

Total assets less current liabilities

 

8,224

15,083

Creditors: Amounts falling due after more than one year

6

(5,164)

(6,803)

Net assets

 

3,060

8,280

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

2,960

8,180

Shareholders' funds

 

3,060

8,280

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.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges his 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 and FRS 102 Section 1A.

Approved and authorised by the director on 13 October 2023
 

.........................................
Mr M J Eagland
Director

   
 

M J Eagland Limited

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: The Studio, Hill Road, Lyme Regis, Dorset, DT7 3PG.

The principal place of business is:38 Northumberland Place, London W2 5AS

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, 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.

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 statement of financial position 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:

 

M J Eagland Limited

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

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Computer equipment

25% straight line basis

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. 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 impairment 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 debtor.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. 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. Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. All shares are issued on a fully paid up basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

M J Eagland Limited

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

4

Tangible assets

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 August 2022

1,130

1,130

At 31 July 2023

1,130

1,130

Depreciation

At 1 August 2022

1,130

1,130

At 31 July 2023

1,130

1,130

Carrying amount

At 31 July 2023

-

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

1,220

3,101

Prepayments

200

184

Other debtors

2,186

2,351

 

3,606

5,636

 

M J Eagland Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Taxes and social security

 

3,525

5,242

Other creditors

 

1,080

1,020

 

4,605

6,262

Due after one year

 

Loans and borrowings

8

5,164

6,803

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

5,164

6,803

Bank borrowings

The RBS bounce back loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 16 July 2026. The carrying amount at year end is £Nil (2022 - £6,803).

The loan is part of the government Coronavirus response and is unsecured with no interest charged or
repayments due for the first 12 months.