2022-11-012023-10-312023-10-31false05912264EDEN VALLEY MACHINERY 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EDEN VALLEY MACHINERY LIMITED

Registered Number
05912264
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

EDEN VALLEY MACHINERY LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

TAYLOR, Alison Jane
TAYLOR, Robert Leighton
TAYLOR, Trevor

Company Secretary

TAYLOR, Alison Jane

Registered Address

Keld Farm
Croft Ends
Appleby-In-Westmorland
CA16 6JW

Registered Number

05912264 (England and Wales)
EDEN VALLEY MACHINERY LIMITED
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5203,521190,078
203,521190,078
Current assets
Stocks7305,250259,150
Debtors890,994117,103
Cash at bank and on hand59,6787,346
455,922383,599
Creditors amounts falling due within one year9(82,307)(62,379)
Net current assets (liabilities)373,615321,220
Total assets less current liabilities577,136511,298
Provisions for liabilities10(44,775)(33,390)
Net assets532,361477,908
Capital and reserves
Called up share capital100100
Profit and loss account532,261477,808
Shareholders' funds532,361477,908
The financial statements were approved and authorised for issue by the Board of Directors on 7 February 2024, and are signed on its behalf by:
TAYLOR, Robert Leighton
Director
Registered Company No. 05912264
EDEN VALLEY MACHINERY LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
Vehicles15
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement.
Taxation policy
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 policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Valuation of financial instruments policy
The company 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.
4.Employee information

20232022
Average number of employees during the year33
5.Property, plant and equipment

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 November 2286,276188,750275,026
Additions4,25053,00057,250
Disposals(8,200)(12,000)(20,200)
At 31 October 2382,326229,750312,076
Depreciation and impairment
At 01 November 2240,89144,05784,948
Charge for year8,36421,82530,189
On disposals(2,385)(4,197)(6,582)
At 31 October 2346,87061,685108,555
Net book value
At 31 October 2335,456168,065203,521
At 31 October 2245,385144,693190,078
6.Description of nature of transactions and balances with related parties
On 1 November 2022 the Directors owed the company £42,924. During the period the Directors were repaid £10,757 and introduced a further £55,597. Interest was charged of £217. At 31 October 2023 the company owed the Directors £1,698.
7.Stocks

2023

2022

££
Raw materials and consumables305,250259,150
Total305,250259,150
8.Debtors

2023

2022

££
Trade debtors / trade receivables75,99449,696
Amounts owed by associates and joint ventures / participating interests-42,924
Other debtors-9,483
Prepayments and accrued income15,00015,000
Total90,994117,103
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables37,65044,587
Amounts owed to related parties1,698-
Taxation and social security25,828999
Other creditors14,37114,372
Accrued liabilities and deferred income2,7602,421
Total82,30762,379
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Provisions for liabilities
The provision for deferred tax is made up of £44,775 in respect of accelerated capital allowances.

2023

2022

££
Net deferred tax liability (asset)44,77533,390
Total44,77533,390