Eleanors Wood Limited Filleted accounts for Companies House (small and micro)

Eleanors Wood Limited Filleted accounts for Companies House (small and micro)

ELEANORS WOOD LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03520819
Eleanors Wood Limited
Filleted Unaudited Financial Statements
31 October 2020
Eleanors Wood Limited
Statement of Financial Position
31 October 2020
2020
2019
Note
£
£
£
Fixed assets
Tangible assets
5
145,459
162,923
Current assets
Debtors
6
16,606
10,698
Cash at bank and in hand
59,820
6,027
--------
--------
76,426
16,725
Creditors: amounts falling due within one year
7
64,307
69,125
--------
--------
Net current assets/(liabilities)
12,119
( 52,400)
---------
---------
Total assets less current liabilities
157,578
110,523
Creditors: amounts falling due after more than one year
8
45,833
–
---------
---------
Net assets
111,745
110,523
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
111,645
110,423
---------
---------
Shareholders funds
111,745
110,523
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Eleanors Wood Limited
Statement of Financial Position (continued)
31 October 2020
These financial statements were approved by the board of directors and authorised for issue on 26 March 2021 , and are signed on behalf of the board by:
Mrs B Trimmings
Director
Company registration number: 03520819
Eleanors Wood Limited
Notes to the Financial Statements
Year ended 31 October 2020
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1A The Anchorage, Gosport, Hampshire, PO12 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
Revenue recognition
Turnover is the amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts. The income is recognised at the point of sale and is not deferred over any underlying termly or periodic arrangements.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
25% reducing balance
Garden of remembrance
-
4% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2019: 3 ).
5. Tangible assets
Fixtures and fittings
Garden of Remembrance
Total
£
£
£
Cost
At 1 November 2019
51,159
454,057
505,216
Additions
3,022
–
3,022
--------
---------
---------
At 31 October 2020
54,181
454,057
508,238
--------
---------
---------
Depreciation
At 1 November 2019
44,884
297,409
342,293
Charge for the year
2,324
18,162
20,486
--------
---------
---------
At 31 October 2020
47,208
315,571
362,779
--------
---------
---------
Carrying amount
At 31 October 2020
6,973
138,486
145,459
--------
---------
---------
At 31 October 2019
6,275
156,648
162,923
--------
---------
---------
6. Debtors
2020
2019
£
£
Trade debtors
16,606
10,698
--------
--------
7. Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
4,167
–
Trade creditors
7,245
7,150
Social security and other taxes
32,992
20,184
Other creditors
19,903
41,791
--------
--------
64,307
69,125
--------
--------
8. Creditors: amounts falling due after more than one year
2020
2019
£
£
Bank loans and overdrafts
45,833
–
--------
----
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2020
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs B Trimmings
( 17,752)
4,125
( 13,627)
A F W Trimmings Esq
( 17,751)
17,751
–
--------
--------
--------
( 35,503)
21,876
( 13,627)
--------
--------
--------
2019
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mrs B Trimmings
( 27,995)
10,243
( 17,752)
A F W Trimmings Esq
( 27,995)
10,244
( 17,751)
--------
--------
--------
( 55,990)
20,487
( 35,503)
--------
--------
--------