Company No:
Contents
Note | 2024 | 2023 | ||
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Fixed assets | ||||
Tangible assets | 3 |
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98,465 | 82,702 | |||
Current assets | ||||
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand |
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2,159,726 | 2,503,279 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 1,446,399 | 1,220,192 | ||
Total assets less current liabilities | 1,544,864 | 1,302,894 | ||
Creditors: amounts falling due after more than one year | 7 | (
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Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Eurostove Limited (registered number:
C J Baines
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.
Eurostove Limited (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 Goodwood House, Blackbrook Park Avenue, Taunton, TA1 2PX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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 Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. 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. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Land and buildings |
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Leasehold improvements |
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Plant and machinery |
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Vehicles |
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Fixtures and fittings |
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Office equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Land and buildings | Leasehold improve- ments |
Plant and machinery | Vehicles | Fixtures and fittings | Office equipment | Total | |||||||
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Cost | |||||||||||||
At 01 August 2023 |
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Additions |
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Disposals |
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At 31 July 2024 |
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Accumulated depreciation | |||||||||||||
At 01 August 2023 |
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Charge for the financial year |
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Disposals |
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At 31 July 2024 |
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Net book value | |||||||||||||
At 31 July 2024 |
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At 31 July 2023 |
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2024 | 2023 | ||
£ | £ | ||
Stocks |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans (secured) |
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Trade creditors |
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Amounts owed to Group undertakings |
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Taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans (secured) |
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Commitments
2024 | 2023 | ||
£ | £ | ||
Total future minimum lease payments under non-cancellable operating lease |
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Rent is due on the lease of the property Unit H1, H2, J1, J2, 6,350 sq ft extension and associated parking which is part of the building Mendip Business Park, Rooksbridge, Axbridge, Somerset ("the Estate") comprised in Title No. ST140316. The lease covers the period from 14 October 2014 to 13 October 2024. Annual rent of £65,400 plus VAT is paid in monthly instalments in advance. Payment obligations include service charges, a fair proportion of the cost of repairing, maintaining and cleaning, the cost of any works to the property which the Landlord does after the Tenant defaults. Please see the lease agreement dated 7 August 2014 for the remaining payment obligations and other terms.
Parent Company:
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Unit H2 Mendip Industrial Estate Rooksbridge Axbridge Somerset BS26 2UG |