Eden_Commercials_Cumbria_Ltd_31_Oct_2020_companies_house_set_of

Company registration number:

09317585

Eden Commercials Cumbria Ltd

Unaudited Filleted Financial Statements for the year ended

31 October 2020

Eden Commercials Cumbria Ltd

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of Eden Commercials Cumbria Ltd

Year ended

31 October 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements

of

Eden Commercials Cumbria Ltd

for the year ended

31 October 2020

which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of

Eden Commercials Cumbria Ltd

, as a body. Our work has been undertaken solely to prepare for your approval the

financial statements

of

Eden Commercials Cumbria Ltd

and state those matters that we have agreed to state to the Board of Directors of

Eden Commercials Cumbria Ltd

, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than

Eden Commercials Cumbria Ltd

and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that

Eden Commercials Cumbria Ltd

has kept adequate accounting records and to prepare statutory

financial statements

that give a true and fair view of the assets, liabilities, financial position and profit of

Eden Commercials Cumbria Ltd

. You consider that

Eden Commercials Cumbria Ltd

is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Eden Commercials Cumbria Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Grave Solutions

River Bend

Culgaith

Penrith

CA10 1QE

United Kingdom

Eden Commercials Cumbria Ltd

Statement of Financial Position

31 October 2020

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	5	464,644		172,586
Current assets
Stocks		920,785		1,162,491
Debtors	6	50,506		35,506
Cash at bank and in hand		440,828		139,288
		1,412,119		1,337,285
Creditors: amounts falling due within one year	7	(881,788	)	(1,009,340	)
Net current assets		530,331		327,945
Total assets less current liabilities		994,975		500,531
Creditors: amounts falling due after more than one year	8	(250,000	)	-
Net assets		744,975		500,531
Capital and reserves
Called up share capital		100		100
Profit and loss account		744,875		500,431
Shareholders funds		744,975		500,531

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These

financial statements

have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

30 July 2021

, and are signed on behalf of the board by:

John Mullen

Director

Company registration number:

09317585

Eden Commercials Cumbria Ltd

Notes to the Financial Statements

Year ended

31 October 2020

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Sycamore House

,

Bolton

,

Appleby-in-Westmorland

,

CA16 6AW

, United Kingdom.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant and machinery	20% reducing balance
Motor vehicles	20% reducing balance

Impairment

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.

Stocks

Stocks are measured at the lower of cost and estimated net realisable value, after making due allowance for damaged and slow moving items.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

4 Average number of employees

The average number of persons employed by the company during the year was

10

(2019:

5.00

).

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 November 2019	282,936
Additions	403,101
Disposals	(101,688	)
At 31 October 2020	584,349
Depreciation
At 1 November 2019	110,350
Charge	37,057
Disposals	(27,702	)
At 31 October 2020	119,705
Carrying amount
At 31 October 2020	464,644
At 31 October 2019	172,586

6 Debtors

	2020		2019
	£		£
Trade debtors	50,506		35,506

7 Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	788,289	883,114
Taxation and social security	46,511	74,646
Other creditors	46,988	51,580
	881,788	1,009,340

8 Creditors: amounts falling due after more than one year

	2020		2019
	£		£
Bank loans and overdrafts	250,000		-

Eden_Commercials_Cumbria_Ltd_31_Oct_2020_companies_house_set_of_accounts.html