Company Registration No. 1379377 (England and Wales)
Eddingbrook Limited
Unaudited accounts
for the year ended 30 September 2023
Eddingbrook Limited
Unaudited accounts
Contents
Eddingbrook Limited
Company Information
for the year ended 30 September 2023
Directors
D Jackson
D Webster
Company Number
1379377 (England and Wales)
Registered Office
Valley Works
Bacup Road
Todmorden
Lancashire
OL14 7PJ
Eddingbrook Limited
Statement of financial position
as at 30 September 2023
Cash at bank and in hand
107,905
99,911
Creditors: amounts falling due within one year
(115,781)
(127,055)
Net current assets
146,916
99,276
Called up share capital
1,002
1,002
Profit and loss account
145,914
98,274
Shareholders' funds
146,916
99,276
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2024 and were signed on its behalf by
D Webster
Director
Company Registration No. 1379377
Eddingbrook Limited
Notes to the Accounts
for the year ended 30 September 2023
Eddingbrook Limited is a private company, limited by shares, registered in England and Wales, registration number 1379377. The registered office is Valley Works, Bacup Road, Todmorden , Lancashire, OL14 7PJ.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention. The principle accounting policies adopted are set out below.
The accounts are presented in £ sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company has continued to improve its net asset position and its profit levels. Therefore, at the time of approval of the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and so continue to adopt the going concern basis of accounting in preparing these financial statements.
The turnover shown in the profit and loss account represent amounts receivable during the year, exclusive of Value Added Tax.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and section 12 'Other Financial Instruments Issues' of FRS 102 to all of its Financial Instruments.
Financial Instruments are recognised when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using effective interest rate method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
Eddingbrook Limited
Notes to the Accounts
for the year ended 30 September 2023
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilites
Basic financial liabilities, including trade and other creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting date.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
The company operates a defined benefit contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Amounts falling due within one year
Trade debtors
129,658
107,006
Accrued income and prepayments
11,134
5,414
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Creditors: amounts falling due within one year
2023
2022
Trade creditors
38,458
16,527
Amounts owed to group undertakings and other participating interests
23,834
61,462
Taxes and social security
25,362
17,950
Other creditors
5,865
6,333
Eddingbrook Limited
Notes to the Accounts
for the year ended 30 September 2023
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Operating lease commitments
2023
2022
At 30 September 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
812
812
Later than one year and not later than five years
1,421
2,030
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Transactions with related parties
The company paid dividends amounting to £42,592 (2022: £42,592) to its holding company, Eddingbrook Holdings Limited, during the year.
During the year, Eddingbrook Limited was charged hire of plant, vehicles and equipment of £33,000 (2022: £33,000) by Eddingbrook Holdings Limited. At 30 September 2023, the company owed £23,834 (2022: £61,462) to Eddingbrook Holdings Limited.
The buildings which the company operates are owned by the two directors, the company paid rent of £30,000 (2022: £20,167) during the year.
At 30 September 2023, the company's immediate parent was Eddingbrook Holdings Limited, a company incorporated in England and Wales. There is not considered to be an ultimate controlling party.
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Average number of employees
During the year the average number of employees was 8 (2022: 7).