Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3133No description of principal activity2023-02-01false34truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07665934 2023-02-01 2024-01-31 07665934 2022-02-01 2023-01-31 07665934 2024-01-31 07665934 2023-01-31 07665934 2022-02-01 07665934 c:Director1 2023-02-01 2024-01-31 07665934 d:Buildings 2023-02-01 2024-01-31 07665934 d:Buildings 2024-01-31 07665934 d:Buildings 2023-01-31 07665934 d:Buildings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07665934 d:Buildings d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07665934 d:PlantMachinery 2023-02-01 2024-01-31 07665934 d:PlantMachinery 2024-01-31 07665934 d:PlantMachinery 2023-01-31 07665934 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07665934 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07665934 d:MotorVehicles 2023-02-01 2024-01-31 07665934 d:MotorVehicles 2024-01-31 07665934 d:MotorVehicles 2023-01-31 07665934 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07665934 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07665934 d:FurnitureFittings 2023-02-01 2024-01-31 07665934 d:FurnitureFittings 2024-01-31 07665934 d:FurnitureFittings 2023-01-31 07665934 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07665934 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07665934 d:ComputerEquipment 2023-02-01 2024-01-31 07665934 d:ComputerEquipment 2024-01-31 07665934 d:ComputerEquipment 2023-01-31 07665934 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07665934 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07665934 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07665934 d:LeasedAssetsHeldAsLessee 2023-02-01 2024-01-31 07665934 d:CurrentFinancialInstruments 2024-01-31 07665934 d:CurrentFinancialInstruments 2023-01-31 07665934 d:Non-currentFinancialInstruments 2024-01-31 07665934 d:Non-currentFinancialInstruments 2023-01-31 07665934 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07665934 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07665934 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07665934 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07665934 d:ShareCapital 2024-01-31 07665934 d:ShareCapital 2023-01-31 07665934 d:CapitalRedemptionReserve 2024-01-31 07665934 d:CapitalRedemptionReserve 2023-01-31 07665934 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 07665934 d:RetainedEarningsAccumulatedLosses 2024-01-31 07665934 d:RetainedEarningsAccumulatedLosses 2023-01-31 07665934 c:FRS102 2023-02-01 2024-01-31 07665934 c:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07665934 c:FullAccounts 2023-02-01 2024-01-31 07665934 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07665934 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 07665934 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 07665934 d:TaxLossesCarry-forwardsDeferredTax 2024-01-31 07665934 d:TaxLossesCarry-forwardsDeferredTax 2023-01-31 07665934 d:RetirementBenefitObligationsDeferredTax 2024-01-31 07665934 d:RetirementBenefitObligationsDeferredTax 2023-01-31 07665934 d:OtherDeferredTax 2024-01-31 07665934 d:OtherDeferredTax 2023-01-31 07665934 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-31 07665934 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-31 07665934 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 07665934 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 07665934 d:LeasedAssetsHeldAsLessee 2024-01-31 07665934 d:LeasedAssetsHeldAsLessee 2023-01-31 07665934 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 0766593407665934










EAGLE PLATFORMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
EAGLE PLATFORMS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EAGLE PLATFORMS LIMITED
FOR THE YEAR ENDED 31 JANUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eagle Platforms Limited for the year ended 31 January 2024 which comprise  the Balance Sheet and the related notes 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 https://www.icaew.com /regulation.

This report is made solely to the director of Eagle Platforms Limited in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Eagle Platforms Limited and state those matters that we have agreed to state to the director of Eagle Platforms Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eagle Platforms Limited and its director for our work or for this report. 

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

We have not been instructed to carry out an audit or review of the financial statements of Eagle Platforms Limited. 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 financial statements.

  



Shorts
 
Chartered Accountants
  
Cedar House
63 Napier Street
Sheffield
South Yorkshire
S11 8HA
8 April 2024
Page 1

 
EAGLE PLATFORMS LIMITED
REGISTERED NUMBER: 07665934

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
10,850,034
10,795,381

Current assets
  

Stocks
  
498,488
366,851

Debtors: amounts falling due within one year
 5 
1,184,778
1,242,785

Cash at bank and in hand
  
262,837
404,364

  
1,946,103
2,014,000

Creditors: amounts falling due within one year
 6 
(3,796,457)
(3,681,554)

Net current liabilities
  
 
 
(1,850,354)
 
 
(1,667,554)

Total assets less current liabilities
  
8,999,680
9,127,827

Creditors: amounts falling due after more than one year
 7 
(4,583,137)
(5,119,077)

Provisions for liabilities
  

Deferred tax
 8 
(1,280,414)
(1,090,422)

Net assets
  
3,136,129
2,918,328


Capital and reserves
  

Called up share capital 
  
99,771
99,771

Capital redemption reserve
 9 
230
230

Profit and loss account
 9 
3,036,128
2,818,327

  
3,136,129
2,918,328


Page 2

 
EAGLE PLATFORMS LIMITED
REGISTERED NUMBER: 07665934
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 8 April 2024.




J Haigh
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Eagle Platforms Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 07665934). Its registered office is Unit A Ryton Road, Anston, Sheffield, South Yorkshire S25 4DL. The principal activity of the Company throughout the year continued to be that of platform hire. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

The depreciation rates used are:

Improvements to property
-
20%
straight line
Plant and machinery
-
50%
reducing balance
Motor vehicles
-
20%
reducing balance
Fixtures and fittings
-
25%
to 50% reducing balance
Computer equipment
-
50%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of Comprehensive Income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight line basis over the lease term.

Page 5

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Comprehensive Income.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 6

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 33).

Page 7

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Improvements to property
Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 February 2023
39,482
12,017,228
860,456
60,055
49,441
13,026,662


Additions
-
1,174,747
79,344
16,532
8,142
1,278,765


Disposals
-
(154,620)
(32,077)
-
-
(186,697)



At 31 January 2024

39,482
13,037,355
907,723
76,587
57,583
14,118,730



Depreciation


At 1 February 2023
12,979
1,766,979
384,603
28,998
37,722
2,231,281


Charge for the year on owned assets
5,609
182,589
19,575
15,108
7,614
230,495


Charge for the year on financed assets
-
786,170
77,450
-
-
863,620


Disposals
-
(38,462)
(18,238)
-
-
(56,700)



At 31 January 2024

18,588
2,697,276
463,390
44,106
45,336
3,268,696



Net book value



At 31 January 2024
20,894
10,340,079
444,333
32,481
12,247
10,850,034



At 31 January 2023
26,503
10,250,249
475,853
31,057
11,719
10,795,381

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£


Plant and machinery
9,080,161
8,822,512

Motor vehicles
366,035
377,980

9,446,196
9,200,492

Page 8

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,135,540
1,083,839

Other debtors
49,238
158,946

1,184,778
1,242,785


Included in trade debtors are factored debts.


6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Obligations under finance lease and hire purchase contracts
1,785,556
1,686,130

Trade creditors
745,910
564,041

Other taxation and social security
199,874
175,767

Other creditors
1,061,276
1,252,859

Accruals and deferred income
3,841
2,757

3,796,457
3,681,554


Included within creditors falling due within one year are secured liabilities in respect of loans of £47,890 (2023: £59,327) and obligations under finance leases and hire purchase contracts of £1,785,556 (2023: £1,686,130). Also included in creditors are advances on invoice discounting facilities of £983,355 (2023: £958,078).


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
4,239,642
4,421,673

Other creditors
343,495
697,404

4,583,137
5,119,077


Included within creditors falling due after more than one year are secured liabilities in respect of loans of £8,275 (2023: £54,895) and obligations under finance leases and hire purchase contracts of £4,239,642 (2023: £4,421,673).



Page 9

 
EAGLE PLATFORMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,090,422)
(486,921)


Charged to profit or loss
(189,992)
(603,501)



At end of year
(1,280,414)
(1,090,422)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
1,603,748
1,350,040

Tax losses carried forward
(530,763)
(524,632)

Pension surplus
(638)
(605)

Deferred tax on revalued assets
208,067
265,619

1,280,414
1,090,422


9.


Reserves

Profit and loss account

FRS 102 1A allows that surpluses on the revaluation of plant and machinery, although not distributable, be charged through the Profit and Loss Account. Moreover, there is a requirement that deferred tax should be provided against the amount of the revaluation surplus. Consequently, the Profit and Loss Account reserve at 31 January 2024 includes a non-distributable amount of £624,199 (2023 - £796,857).


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £30,730 (2023 - £25,612). Contributions totalling £2,550 (2023 - £2,422) were payable to the fund at the Balance Sheet date and are included in creditors.

 
Page 10