YRG Eclipse Limited - Accounts to registrar (filleted) - small 18.2
YRG Eclipse Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the year ended |
| 31 December 2018 |
| for |
| YRG Eclipse Limited |
| YRG Eclipse Limited (Registered number: 01606456) |
| Contents of the Financial Statements |
| for the year ended 31 December 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| YRG Eclipse Limited |
| Company Information |
| for the year ended 31 December 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditors |
| Oak Tree House, Harwood Road |
| Northminster Business Park |
| Upper Poppleton |
| York |
| YO26 6QU |
| YRG Eclipse Limited (Registered number: 01606456) |
| Balance Sheet |
| 31 December 2018 |
| 31/12/18 | 31/12/17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| D J Cowley - Director | M C Gration - Director |
| J P Tinker - Director | A M Woodward - Director |
| YRG Eclipse Limited (Registered number: 01606456) |
| Notes to the Financial Statements |
| for the year ended 31 December 2018 |
| 1. | STATUTORY INFORMATION |
| YRG Eclipse Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
| of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
| Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
| convention. |
| There were no material departures from that standard. |
| The principal accounting policies adopted in the preparation of the financial statements are set out below and |
| have remained unchanged from the previous year, and also have been consistently applied within the same |
| accounts. |
| The going concern basis is dependent upon the support of the parent company who have provided an appropriate |
| undertaking of support. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Income recognition |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Income recognition |
| Turnover represents the amount derived from the provision of goods and services to customers after deduction of |
| trade discounts and value added tax. Turnover is recognised at the point at which the risks and rewards of the |
| goods are transferred to the customer and the services are rendered. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
| less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
| moving items. |
| Financial instruments |
| Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
| YRG Eclipse Limited (Registered number: 01606456) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
| except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
| substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
| sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
| those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
| have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
| timing difference. |
| 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. |
| Research and development |
| Expenditure on research and development is written off in the year in which it is incurred. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
| balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
| the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
| of the future payments is treated as a liability. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Invoice financing |
| The invoice financing creditor represents amounts received in respect of financed debts. There is full resource to |
| the company for losses on debts, and so the financed debts continue to be recognised on the balance sheet. |
| Interest and other charges relating to invoice financing are recognised in the profit and loss account over the |
| relevant period. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| YRG Eclipse Limited (Registered number: 01606456) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2018 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 January 2018 |
| and 31 December 2018 |
| AMORTISATION |
| At 1 January 2018 |
| Charge for year |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| YRG Eclipse Limited (Registered number: 01606456) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2018 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2018 |
| Additions |
| Transfer to ownership | (315,852 | ) | - | (315,852 | ) |
| At 31 December 2018 |
| DEPRECIATION |
| At 1 January 2018 |
| Charge for year |
| Transfer to ownership | (77,068 | ) | - | (77,068 | ) |
| At 31 December 2018 |
| NET BOOK VALUE |
| At 31 December 2018 |
| At 31 December 2017 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Social security and other taxes |
| Invoice factoring account | 297,419 | 278,238 |
| Accruals and deferred income |
| YRG Eclipse Limited (Registered number: 01606456) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2018 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Bank loans - 1-2 years |
| Hire purchase contracts |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Hire purchase contracts | 419,264 | 632,850 |
| Invoice factoring account | 297,419 | 278,238 |
| Amounts owed to the bank are secured by way of a fixed and floating charge over the assets of the group. |
| Hire purchases are secured on the assets to which they relate. |
| 10. | PROVISIONS FOR LIABILITIES |
| 31/12/18 | 31/12/17 |
| £ | £ |
| Deferred tax | 94,064 | 112,062 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2018 |
| Provided during year | ( |
) |
| Balance at 31 December 2018 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/12/18 | 31/12/17 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| YRG Eclipse Limited (Registered number: 01606456) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2018 |
| 13. | CONTINGENT LIABILITIES |
| The company and its fellow group members have granted a cross guarantee to the group's bankers in respect of |
| each company's bank borrowings. |
| 14. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling company is YRG Group Limited, a private company, limited by shares, registered in |
| England and Wales. The company's registered office is 20 Trinity Lane, Micklegate, York, North Yorkshire, |
| YO1 6EL. |