2022-11-012023-10-312023-10-31false09317585EDEN COMMERCIALS CUMBRIA 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EDEN COMMERCIALS CUMBRIA LIMITED

Registered Number
09317585
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

EDEN COMMERCIALS CUMBRIA LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

MULLEN, Derek
MULLEN, John Huddart

Registered Address

Units 1-4 Ashbank Building
Crosscroft Industrial Estate
Appleby-In-Westmorland
CA16 6HX

Registered Number

09317585 (England and Wales)
EDEN COMMERCIALS CUMBRIA LIMITED
Statement of Financial Position
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,937,3341,143,960
1,937,3341,143,960
Current assets
Stocks42,314,2832,643,800
Debtors5440,019137,535
Cash at bank and on hand355,3561,173,655
3,109,6583,954,990
Creditors amounts falling due within one year6(2,792,773)(3,019,308)
Net current assets (liabilities)316,885935,682
Total assets less current liabilities2,254,2192,079,642
Creditors amounts falling due after one year7(649,989)(666,211)
Provisions for liabilities8(381,100)(237,100)
Net assets1,223,1301,176,331
Capital and reserves
Called up share capital100100
Profit and loss account1,223,0301,176,231
Shareholders' funds1,223,1301,176,331
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
MULLEN, John Huddart
Director
Registered Company No. 09317585
EDEN COMMERCIALS CUMBRIA LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
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.
Basis of preparation
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.
Functional and presentation currency
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 and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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
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.
Tangible fixed assets and depreciation
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 Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Vehicles20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
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 complete the sale. The impairment loss is recognised immediately in the Income Statement
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss 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 Income Statement in the same period as the related expenditure.
2.Average number of employees

20232022
Average number of employees during the year1816
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 November 22243,5001,132,4431,375,943
Additions15,8351,325,1991,341,034
Disposals-(494,182)(494,182)
At 31 October 23259,3351,963,4602,222,795
Depreciation and impairment
At 01 November 22118,332113,651231,983
Charge for year25,63458,72284,356
On disposals-(30,878)(30,878)
At 31 October 23143,966141,495285,461
Net book value
At 31 October 23115,3691,821,9651,937,334
At 31 October 22125,1681,018,7921,143,960
4.Stocks

2023

2022

££
Raw materials and consumables2,314,2832,643,800
Total2,314,2832,643,800
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables383,845115,885
Other debtors54,50721,650
Prepayments and accrued income1,667-
Total440,019137,535
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables161,075492,428
Bank borrowings and overdrafts1,125,938610,930
Taxation and social security166,524232,918
Finance lease and HP contracts517,143229,189
Other creditors789,5411,419,746
Accrued liabilities and deferred income32,55234,097
Total2,792,7733,019,308
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. HP contracts are secured on the asset to which they relate.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts173,419329,356
Other creditors476,570336,855
Total649,989666,211
Finance lease and HP contracts are included in other creditors. HP contracts are secured on the asset to which they relate.
8.Provisions for liabilities
The provision for deferred tax arises from accelerated capital allowances and tax losses carried forward.

2023

2022

££
Net deferred tax liability (asset)381,100237,100
Total381,100237,100
9.Directors advances, credits and guarantees
On 1 November 2022 the Directors owed the Company £Nil. During the period the directors were advanced a further £223,894 and repaid £223,894. As at 31 October 2023 the Directors owed the Company £Nil. Interest of £1,646 was charged on this loan.
10.Related party transactions
During the year the directors had a loan account with the company. At the balance sheet date the company owed the directors £3,349 (2022 - £222), This loan is unsecured, interest free and repayable upon demand
11.Further information regarding the company's financial position
In respect of these Financial Statements the comparative bank borrowings and overdrafts over one year and bank borrowings and overdrafts within one year have also been altered to correctly reflect certain underlying balances, these alterations have not affected the overall position of the company with the Net Asset position being unaffected.