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Registered number: 04285074
EYNSHAM GROUP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2020
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EYNSHAM GROUP LIMITED
REGISTERED NUMBER: 04285074
BALANCE SHEET
AS AT 31 MARCH 2020
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Page 1
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EYNSHAM GROUP LIMITED
REGISTERED NUMBER: 04285074
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2020
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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G P McCartan
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B Matthews
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The notes on pages 3 to 8 form part of these financial statements.
Page 2
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EYNSHAM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
Eynsham Group Limited is a private company limited by shares, incorporated in the United Kingdom and registered in England and Wales with a company number of 04285074. The registered office is 3 Horace House, Oakfield Industrial Estate, Stanton Harcourt Road, Eynsham, Witney, Oxfordshire, OX29 4TX.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are rounded to the nearest pound Sterling, the functional and presentational currency of the Company.
The following principal accounting policies have been applied:
As at the date of this report, the recent COVID-19 pandemic has created a significant amount of uncertainty worldwide. Whilst it is too early to estimate what the full impact from COVID-19 will be on the Company’s performance for the foreseeable future, the Directors do not expect that COVID-19 will cause significant disruption to the business.
The Company is the immediate parent of 3 D Aluminium Plas Limited. The Group has adapted their guidelines and procedures to ensure that trade will continue during the period impacted by COVID-19. The Group has secured long-term contracts prior to COVID-19 that the Directors expect to continue to generate profits for the Group.
The financial statements have been prepared on a going concern basis which assumes the Company will have sufficient funds to continue to pay its debts as and when they fall due and thus continue to trade. After making enquiries, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future based on its forecasts and projections. In making their assessment, the Directors have considered a period of at least 12 months from the date of signing these financial statements.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment.
Page 3
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EYNSHAM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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 Comprehensive Income.
Financial assets 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.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.
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.
Defined contribuion pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income 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.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
Page 4
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EYNSHAM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
2.Accounting policies (continued)
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
The average monthly number of employees, including Directors, during the year was 4 (2019:5).
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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3 D Aluminium Plas Limited
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3 Horace House, Oakfield Industrial Estate, Eynsham, Witney, Oxfordshire, OX29 4TX
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Page 5
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EYNSHAM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Amounts owed by group undertakings
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Prepayments and accrued income
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Amounts owed by group undertakings are unsecured, non-interesting bearing and repayable on demand.
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Bank loans and overdraft facilities are secured by a fixed and floating charge over the assets of the Company.
Amounts owed to group undertakings are unsecured, non-interesting bearing and repayable on demand.
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Page 6
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EYNSHAM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Creditors: Amounts falling due after more than one year
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See note 9 for details on securities on bank loans.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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See note 9 for details on securities on bank loans.
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The Company is party to a group overdraft facility which is secured by a debenture on the assets of the Group. The total group overdraft at 31 March 2020 was £Nil (2019: £226,091).
The Company also has an obligation under the Group VAT registration amounting at 31 March 2020 was £nil (2019: £nil).
During the year, pensions paid in respect of Directors amounted to £4,507 (2019: £3,220). There were no contributions outstanding at the year end (2019: £nil).
Page 7
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EYNSHAM GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
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Commitments under operating leases
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At 31 March 2020 the Company had future minimum lease payments under non-cancellable operating leases as follows:
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Later than 1 year and not later than 5 years
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Related party transactions
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The Company has taken advantage of the exemption under FRS 102 Section 33.1A not to disclose transactions and balances with 100% owned group companies.
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The Company's ultimate parent company is Eynsham Fenestration Holdings Limited, a company registered in England and Wales. There is no controlling party for Eynsham Fenestration Holdings Limited.
Page 8
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