Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
|
|
|
Tangible assets | 4 |
|
|
|
755,215 | 526,965 | |||
Current assets | ||||
Debtors | 5 |
|
|
|
Cash at bank and in hand |
|
|
||
280,478 | 305,726 | |||
Creditors: amounts falling due within one year | 6 | (
|
(
|
|
Net current (liabilities)/assets | (63,530) | 151,611 | ||
Total assets less current liabilities | 691,685 | 678,576 | ||
Creditors: amounts falling due after more than one year | 7 | (
|
(
|
|
Provision for liabilities | (
|
(
|
||
Net liabilities | (
|
(
|
||
Capital and reserves | ||||
Called-up share capital | 8 |
|
|
|
Profit and loss account | (
|
(
|
||
Total shareholder's deficit | (
|
(
|
Directors' responsibilities:
The financial statements of Eden Conveyancing Ltd (registered number:
B Griffin
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Eden Conveyancing Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 7.19 Paintworks, Bath Road, Bristol, BS4 3EA, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £1,369,614. The Company is supported through loans from the Group. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Group will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
customers in the ordinary nature of the business.
Revenue from contracts for the provision of professional services provided during the year, inclusive of direct expenses incurred on client assignments, is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and other direct expenses, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Development costs |
|
Computer equipment |
|
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
Development costs | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
|
|
|
Additions |
|
|
|
At 31 March 2024 |
|
|
|
Accumulated amortisation | |||
At 01 April 2023 |
|
|
|
Charge for the financial year |
|
|
|
At 31 March 2024 |
|
|
|
Net book value | |||
At 31 March 2024 |
|
|
|
At 31 March 2023 |
|
|
Computer equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
|
|
|
Additions |
|
|
|
At 31 March 2024 |
|
|
|
Accumulated depreciation | |||
At 01 April 2023 |
|
|
|
Charge for the financial year |
|
|
|
At 31 March 2024 |
|
|
|
Net book value | |||
At 31 March 2024 |
|
|
|
At 31 March 2023 |
|
|
2024 | 2023 | ||
£ | £ | ||
Trade debtors |
|
|
|
Prepayments and accrued income |
|
|
|
VAT recoverable |
|
|
|
Corporation tax |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank overdrafts (secured) |
|
|
|
Trade creditors |
|
|
|
Amounts owed to Group undertakings |
|
|
|
Accruals and deferred income |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Amounts owed to Group undertakings |
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
The company has taken exemption under section 33 of FRS 102 not to disclose transactions with wholly owned members of the same group headed by Rockpool Group Ltd.