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Euroclydon Ltd

Registered Number
04736830
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

Euroclydon Ltd
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

MACDOUGALL, Stuart

Company Secretary

NICOLSON NOMINEES LTD

Registered Address

96 Milton Street
Brixham
TQ5 0AS

Registered Number

04736830 (England and Wales)
Euroclydon Ltd
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3250,076267,666
Tangible assets52,847,1693,152,873
3,097,2453,420,539
Current assets
Stocks107,80259,079
Debtors6,7488,938575,165
Cash at bank and on hand707,508747,512
1,304,2481,381,756
Creditors amounts falling due within one year8(431,027)(479,300)
Net current assets (liabilities)873,221902,456
Total assets less current liabilities3,970,4664,322,995
Creditors amounts falling due after one year9(1,494,239)(1,599,943)
Provisions for liabilities(143,577)(139,894)
Net assets2,332,6502,583,158
Capital and reserves
Called up share capital1,0001,000
Profit and loss account2,331,6502,582,158
Shareholders' funds2,332,6502,583,158
The financial statements were approved and authorised for issue by the Director on 25 February 2025, and are signed on its behalf by:
MACDOUGALL, Stuart
Director
Registered Company No. 04736830
Euroclydon Ltd
Notes to the Financial Statements
for the year ended 31 August 2024

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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year98
3.Intangible assets

Total

£
Cost or valuation
At 01 September 23401,800
At 31 August 24401,800
Amortisation and impairment
At 01 September 23134,134
Charge for year17,590
At 31 August 24151,724
Net book value
At 31 August 24250,076
At 31 August 23267,666
4.Useful life of intangible assets
Intangible fixed assets are amortized evenly over their expected useful life of 20 years.
5.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 234,317,868
Additions581
At 31 August 244,318,448
Depreciation and impairment
At 01 September 231,164,995
Charge for year306,285
At 31 August 241,471,280
Net book value
At 31 August 242,847,169
At 31 August 233,152,873
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables163,512135,144
Amounts owed by associates and joint ventures / participating interests150,000318,956
Other debtors42,276103,414
Prepayments and accrued income18,85817,651
Total374,646575,165
7.Debtors: amounts due after one year

2024

2023

££
Amounts owed by associates and joint ventures / participating interests 114,292-
Total114,292-
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables49,96268,939
Bank borrowings and overdrafts198,825348,797
Taxation and social security32,902-
Accrued liabilities and deferred income149,33861,564
Total431,027479,300
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,494,2391,599,943
Total1,494,2391,599,943
10.Creditors: amounts due after 5 years
Included in long term-creditors are bank loans repayable in more than 5 years of £698,939 (2023: £504,644).
11.Related party transactions
During the year the director received £nil (2023: £399) as his crew share. During the year, the director received a further loan of £240,603 on which interest of £4,733 was charged, and £150,000 was repaid during the year. At the year end he was due £264,292 (2023: £168,956) to the company.
12.Controlling party
The ultimate controlling parties are Stuart MacDougall and Lesley MacDougall.