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REGISTERED NUMBER: 05514788 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

EDEN PRODUCTS LIMITED

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 8


EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 129,993 130,757

CURRENT ASSETS
Stocks 221,210 170,740
Debtors 5 714,852 682,265
Cash at bank and in hand 89,889 68,976
1,025,951 921,981
CREDITORS
Amounts falling due within one year 6 (655,728 ) (555,340 )
NET CURRENT ASSETS 370,223 366,641
TOTAL ASSETS LESS CURRENT
LIABILITIES

500,216

497,398

CREDITORS
Amounts falling due after more than one
year

7

(20,675

)

(26,350

)

PROVISIONS FOR LIABILITIES (26,533 ) (19,315 )
NET ASSETS 453,008 451,733

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 452,908 451,633
453,008 451,733

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





S F Thompstone - Director


EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

EDEN PRODUCTS LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 05514788

Registered office: Unit 2B
Millbrook Court
Midpoint 18
Middlewich
Cheshire
CW10 OGE

The company is a specialist in supplying natural organic industrial media to the filtration, fuel, pet, plastics, resins, smoking and distilling industries.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements that management has made In the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Estimated useful lives and residual values of fixed assets

As described in the notes of the financial statements, depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods.

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable for goods supplied and is net of returns, discounts and rebates. Revenue Is recognised on despatch of the goods to the customer. The turnover shown in the profit and loss account is exclusive of Value Added Tax.

Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property - 20% straight line
Plant and machinery - 20% reducing balance or 33% straight line
Fixtures and fittings - 33% straight line
Motor vehicles- 25% reducing balance
Website development & computer
equipment

- 33% straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Corporation tax
The taxation expense represents the aggregate amount of current and deterred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deterred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 August 2022 24,249 179,956 11,117
Additions - 2,009 325
Disposals - (1,251 ) -
At 31 July 2023 24,249 180,714 11,442
DEPRECIATION
At 1 August 2022 24,249 138,734 6,736
Charge for year - 18,813 1,912
Eliminated on disposal - (1,251 ) -
At 31 July 2023 24,249 156,296 8,648
NET BOOK VALUE
At 31 July 2023 - 24,418 2,794
At 31 July 2022 - 41,222 4,381

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 August 2022 122,733 30,587 368,642
Additions 40,680 5,633 48,647
Disposals - (8,696 ) (9,947 )
At 31 July 2023 163,413 27,524 407,342
DEPRECIATION
At 1 August 2022 44,470 23,696 237,885
Charge for year 24,689 3,997 49,411
Eliminated on disposal - (8,696 ) (9,947 )
At 31 July 2023 69,159 18,997 277,349
NET BOOK VALUE
At 31 July 2023 94,254 8,527 129,993
At 31 July 2022 78,263 6,891 130,757

Including within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

Motor vehicles : £23,648 (2022: £35,475).

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 475,492 457,439
Amounts owed by group undertakings 11,668 76,773
Amounts owed by connected
companies 117,663 45,988
Other debtors 313 3,313
Prepayments 109,716 98,752
714,852 682,265

Amounts owed by group undertakings and connected companies are unsecured, interest free and are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 5,675 5,675
Trade creditors 394,345 347,925
Tax 80,643 40,688
Social security and other taxes 8,660 7,348
VAT 126,979 116,448
Other creditors 4,360 7,982
Accruals and deferred income 35,066 29,274
655,728 555,340

There is a fixed and floating charge dated 14 September 2005 over the company's assets in favour of the National Westminster Bank PLC, as security for any bank borrowings.

The aggregate amounts of obligations under finance leases and hire purchase contracts due within one year that are secured is £5,675 (2022: £5,675). This creditor is secured on the assets to which they relate.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Hire purchase contracts 20,675 26,350

The aggregate amounts of obligations under finance leases and hire purchase contracts due over one year that are secured is £20,675 (2022: £26,350). This creditor is secured on the assets to which they relate.

8. OTHER FINANCIAL COMMITMENTS

The amount of other commitments, guarantees and contingencies is £194,692 (2022: £294,437).

9. EVENTS AFTER THE REPORTING PERIOD

There were no significant events after the end of the reporting period up to the date of approval of the financial statements by the Board.

EDEN PRODUCTS LIMITED (REGISTERED NUMBER: 05514788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. CONTROLLING PARTY

The company is a wholly owned subsidiary of Thompstone Holdings Limited, a company incorporated in England and Wales.