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 2022

Eleanors Wood Limited

Statement of Financial Position

31 October 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5		107,510	127,354

Current assets

Debtors	6	13,940	16,668
Cash at bank and in hand		2,266	17,236
		--------	--------
		16,206	33,904

Creditors: amounts falling due within one year	7	45,387		25,739
		--------		--------
Net current (liabilities)/assets			( 29,181)	8,165
			---------	---------
Total assets less current liabilities			78,329	135,519

Creditors: amounts falling due after more than one year	8	36,523	42,103
		--------	---------
Net assets		41,806	93,416
		--------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	41,706	93,316
	--------	--------
Shareholders funds	41,806	93,416
	--------	--------

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 2022 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 2022

These financial statements were approved by the board of directors and authorised for issue on 31 July 2023 , 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 2022

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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 5 (2021: 4 ).

5. Tangible assets

	Fixtures and fittings	Garden of Remembrance	Total
	£	£	£
Cost
At 1 November 2021	56,834	454,057	510,891
Additions	346	–	346
Disposals	( 2,391)	–	( 2,391)
	--------	---------	---------
At 31 October 2022	54,789	454,057	508,846
	--------	---------	---------
Depreciation
At 1 November 2021	49,803	333,734	383,537
Charge for the year	1,783	18,162	19,945
Disposals	( 2,146)	–	( 2,146)
	--------	---------	---------
At 31 October 2022	49,440	351,896	401,336
	--------	---------	---------
Carrying amount
At 31 October 2022	5,349	102,161	107,510
	--------	---------	---------
At 31 October 2021	7,031	120,323	127,354
	--------	---------	---------

6. Debtors

	2022	2021
	£	£
Trade debtors	12,790	16,668
Other debtors	1,150	–
	--------	--------
	13,940	16,668
	--------	--------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	5,579	5,579
Trade creditors	7,349	427
Corporation tax	12,113	2,282
Social security and other taxes	13,784	10,130
Other creditors	6,562	7,321
	--------	--------
	45,387	25,739
	--------	--------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	36,523	42,103
	--------	--------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs B Trimmings	( 1,030)	770	( 260)
	-------	----	----

	2021
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
Mrs B Trimmings	( 13,627)	12,597	( 1,030)
	--------	--------	-------