Eyre Trailers Limited 08062085 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Manufacture of farm equipment Digita Accounts Production Advanced 6.30.9574.0 true true 08062085 2023-04-01 2024-03-31 08062085 2024-03-31 08062085 bus:OrdinaryShareClass1 2024-03-31 08062085 core:CurrentFinancialInstruments 2024-03-31 08062085 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08062085 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08062085 core:FurnitureFittingsToolsEquipment 2024-03-31 08062085 core:LandBuildings 2024-03-31 08062085 core:MotorVehicles 2024-03-31 08062085 bus:SmallEntities 2023-04-01 2024-03-31 08062085 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08062085 bus:AbridgedAccounts 2023-04-01 2024-03-31 08062085 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08062085 bus:RegisteredOffice 2023-04-01 2024-03-31 08062085 bus:Director1 2023-04-01 2024-03-31 08062085 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 08062085 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08062085 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 08062085 core:LandBuildings 2023-04-01 2024-03-31 08062085 core:MotorVehicles 2023-04-01 2024-03-31 08062085 core:OfficeEquipment 2023-04-01 2024-03-31 08062085 core:PlantMachinery 2023-04-01 2024-03-31 08062085 countries:England 2023-04-01 2024-03-31 08062085 2023-03-31 08062085 core:FurnitureFittingsToolsEquipment 2023-03-31 08062085 core:LandBuildings 2023-03-31 08062085 core:MotorVehicles 2023-03-31 08062085 2022-04-01 2023-03-31 08062085 2023-03-31 08062085 bus:OrdinaryShareClass1 2023-03-31 08062085 core:CurrentFinancialInstruments 2023-03-31 08062085 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08062085 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08062085 core:FurnitureFittingsToolsEquipment 2023-03-31 08062085 core:LandBuildings 2023-03-31 08062085 core:MotorVehicles 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08062085

Eyre Trailers Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Eyre Trailers Limited

(Registration number: 08062085)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

226,226

234,024

Current assets

 

Stocks

6

11,270

11,270

Debtors

7

6,111

19,740

Cash at bank and in hand

 

2,318

4,047

 

19,699

35,057

Creditors: Amounts falling due within one year

(102,590)

(64,445)

Net current liabilities

 

(82,891)

(29,388)

Total assets less current liabilities

 

143,335

204,636

Creditors: Amounts falling due after more than one year

(249,521)

(306,763)

Accruals and deferred income

 

(862)

(862)

Net liabilities

 

(107,048)

(102,989)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(107,049)

(102,990)

Shareholders' deficit

 

(107,048)

(102,989)

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 4 November 2024 and signed on its behalf by:
 

 

Eyre Trailers Limited

(Registration number: 08062085)
Abridged Balance Sheet as at 31 March 2024

.........................................
Mr Robert John Eyre
Director

 

Eyre Trailers Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 2
Coldham Road
Coningsby
Lincolnshire
LN4 4SE

These financial statements were authorised for issue by the Board on 4 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Eyre Trailers Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Office equipment

15% reducing balance

Motor vehicles

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Eyre Trailers Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,105

9,253

 

Eyre Trailers Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

215,691

52,298

32,293

300,282

At 31 March 2024

215,691

52,298

32,293

300,282

Depreciation

At 1 April 2023

11,661

33,920

20,677

66,258

Charge for the year

2,137

2,757

2,904

7,798

At 31 March 2024

13,798

36,677

23,581

74,056

Carrying amount

At 31 March 2024

201,893

15,621

8,712

226,226

At 31 March 2023

204,030

18,378

11,616

234,024

Included within the net book value of land and buildings above is £201,893 (2023 - £204,030) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Raw materials and consumables

11,270

11,270

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1