Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 399,808 | 260,930 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 2,482,932 | 2,216,941 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current assets | 477,393 | 473,461 | ||
| Total assets less current liabilities | 877,201 | 734,391 | ||
| Creditors: amounts falling due after more than one year | 6 | (
|
(
|
|
| Provision for liabilities | (
|
(
|
||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital | 7 |
|
|
|
| Profit and loss account |
|
|
||
| Total shareholder's funds |
|
|
Directors' responsibilities:
The financial statements of Eridge House Limited (registered number:
|
Marcus H A Waring
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.
Eridge House 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:
Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom
The principle place of business is:
1 Fulham Park Road
Fulham
London
SW6 4LJ
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 £.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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.
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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
| Plant and machinery |
|
| Computer equipment |
|
All the borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to standard on 01 September 2018 to continue to be charged over the period to the first market rent review rather than term of the lease.
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.
Classification
The Company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• Bank loans and other third parties; and
• Loan to related parties.
All financial instruments are classified as basic.
Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially at the present value of future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial instruments and liabilities are offset and the net amount reported in the balance sheet when there is an 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.
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.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
The Company contributes into the Aviva APTIS pension scheme for its employees, but discloses this as a defined contribution plan in these accounts. A defined contribution plan is a pension plan under which the Company pays fixed contributions into separate entity.
The contributions are recognised as an expense in the statement of income and retained earnings when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
| 2024 | 2023 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Plant and machinery | Computer equipment | Total | |||
| £ | £ | £ | |||
| Cost | |||||
| At 01 September 2023 |
|
|
|
||
| Additions |
|
|
|
||
| VAT Adjustment |
|
|
|
||
| At 31 August 2024 |
|
|
|
||
| Accumulated depreciation | |||||
| At 01 September 2023 |
|
|
|
||
| Charge for the financial year |
|
|
|
||
| VAT Adjustment |
|
|
|
||
| At 31 August 2024 |
|
|
|
||
| Net book value | |||||
| At 31 August 2024 |
|
|
|
||
| At 31 August 2023 |
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors |
|
|
|
| Amounts owed by Group undertakings (note 9) |
|
|
|
| Corporation tax |
|
|
|
| Other debtors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Trade creditors |
|
|
|
| Taxation and social security |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Bank loans |
|
|
|
| Other creditors |
|
|
|
|
|
|
| 2024 | 2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
|
|
|
|
Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounts to £76,017 (2023: £79,594).
| 2024 | 2023 | ||
| £ | £ | ||
| Unpaid contributions due to the fund (inc. in creditors) |
|
|
The Company contributes into the Aviva APTIS scheme, a scheme which receives contributions from multiple sources. The Company has disclosed this as a defined contribution scheme as it is not possible to split out the information relating to Eridge House Limited.
The Company has in place a pension deficit agreement in order to mitigate the companies obligation to cover the pension liability.
The Company has availed of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.
Parent Company:
|
|
| Incorporated in England and Wales |