Company registration number 03456636 (England and Wales)
EDDLESTONE UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 24 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
EDDLESTONE UK LIMITED
COMPANY INFORMATION
Directors
Mr C L Eddlestone
Mrs G E Eddlestone
Secretary
Mr C L Eddlestone
Company number
03456636
Registered office
Whins Lodge
and business address
Whins Lane
Read
Burnley
Lancashire
BB12 7QY
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
EDDLESTONE UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
EDDLESTONE UK LIMITED
BALANCE SHEET
AS AT
24 OCTOBER 2023
24 October 2023
- 1 -
24 October 2023
25 October 2022
Notes
£
£
£
£
Fixed assets
Investment property
4
130,000
130,000
Current assets
Cash at bank and in hand
2,043
2,693
Creditors: amounts falling due within one year
5
(148,430)
(148,430)
Net current liabilities
(146,387)
(145,737)
Net liabilities
(16,387)
(15,737)
Capital and reserves
Called up share capital
6
2
2
Revaluation reserve
(5,000)
(5,000)
Profit and loss reserves
(11,389)
(10,739)
Total equity
(16,387)
(15,737)

For the financial period ended 24 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 April 2025 and are signed on its behalf by:
Mr C L Eddlestone
Director
Company registration number 03456636 (England and Wales)
EDDLESTONE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 24 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

Eddlestone UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Whins Lodge, Whins Lane, Read, Burnley, Lancashire, BB12 7QY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is dependant on the continued support of its directors and its bankers.true

 

The directors are confident that the bank funding will not be withdrawn in the twelve month period following the date of signing these accounts.

 

On this basis they consider it is appropriate to prepare the financial statements on a going concern basis.

 

 

1.3
Turnover

Turnover represents amounts receivable for rent and consultancy services.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost or valuation less depreciation.  Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
20% per annum - straight line basis

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.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

EDDLESTONE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

EDDLESTONE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 26 October 2022 and 24 October 2023
1,432
Depreciation and impairment
At 26 October 2022 and 24 October 2023
1,432
Carrying amount
At 24 October 2023
-
0
At 25 October 2022
-
0
EDDLESTONE UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 24 OCTOBER 2023
- 5 -
4
Investment property
2023
£
Fair value
At 26 October 2022 and 24 October 2023
130,000

The company's investment property was valued at £130,000 at market value by the directors at 30 October 2016. The directors consider that this value remains a reasonable estimate of the property's fair value at 25 October 2022.

 

The historical cost of the investment property revalued is £151,000 (2022: £151,000).

 

 

5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
114,000
114,000
Other creditors
34,430
34,430
148,430
148,430

The bank loan is secured by a charge over the company's investment property.

6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
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