Eagle Technical Products Limited - Accounts to registrar (filleted) - small 18.2
Eagle Technical Products Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
FOR |
EAGLE TECHNICAL PRODUCTS LIMITED |
EAGLE TECHNICAL PRODUCTS LIMITED (REGISTERED NUMBER: 04385015) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2020 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
EAGLE TECHNICAL PRODUCTS LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 April 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
3 Mellor Road |
Cheadle Hulme |
Cheadle |
Cheshire |
SK8 5AT |
EAGLE TECHNICAL PRODUCTS LIMITED (REGISTERED NUMBER: 04385015) |
ABRIDGED BALANCE SHEET |
30 April 2020 |
2020 | 2019 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Investments |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EAGLE TECHNICAL PRODUCTS LIMITED (REGISTERED NUMBER: 04385015) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 April 2020 |
1. | STATUTORY INFORMATION |
Eagle Technical Products Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have carefully considered the impact of Covid-19 on the company's financial position, liquidity and future performance. The company has continued to trade strongly throughout the Covid-19 pandemic and the directors believe that it is maintaining their sales and profitability. Therefore, the directors believe that the company is well placed to manage its business risks successfully. Accordingly, they have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements. |
Preparation of consolidated financial statements |
The smallest group of which the company is a member and which prepares consolidated accounts is the Longworth Limited group , a company registered in England and Wales. Consolidated accounts of the group can be obtained from that company's registered office: |
Longworth Limited |
Leltex House |
Longley Lane |
Sharston |
Greater Manchester |
M22 4SY |
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. |
Turnover |
Turnover represents amounts receivable for goods and services net of VAT and trade discounts and is recognised at the point that goods are despatched. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
EAGLE TECHNICAL PRODUCTS LIMITED (REGISTERED NUMBER: 04385015) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2020 |
3. | ACCOUNTING POLICIES - continued |
Government grants |
Government grants are recognised where there is reasonable assurance that the company will comply with the conditions attaching to the grant and that the grant will be received. |
For 'Job Retention Scheme' grants, the income is recognised in the period to which the underlying furloughed staff costs relate, the payroll liability has been incurred by the company, and the company has therefore met the conditions to claim for that payroll accounting period. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
EAGLE TECHNICAL PRODUCTS LIMITED (REGISTERED NUMBER: 04385015) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 April 2020 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 May 2019 |
Additions |
At 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for year |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
6. | FINANCIAL INSTRUMENTS |
The current asset investment comprises a portfolio of shares in unitary funds, measured at fair value through the profit and loss account. |
The valuation is provided by the investment management company based on the number of units held and the price of the units at 30 April 2020. |
The fair value of the current asset investment at 30 April 2020 is £424,499 [2019 - £381,968]. |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | POST BALANCE SHEET EVENTS |
Following the period end, the COVID-19 virus has spread throughout the world at an extraordinary pace, which has required governments to take exceptional measures to provide security and stability to their populations and economies. The restrictions that have been widely implemented across the UK have had no material impact on our core operations. Covid-19 is regarded as a non-adjusting event for the period ended 30 April 2020 and the directors do not anticipate any impairment charge in the financial year 2021 in respect of COVID-19. |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is W Rae. |