Eclipse (Distributors) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 02895472 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ECLIPSE (DISTRIBUTORS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R J Pawley

Mr D A Adams

Mr P Jackson

Mr H B Jackson

SECRETARIES:

Mr R J Pawley

Mrs H C Pawley

Mrs S Adams

Mrs L J Jackson

REGISTERED OFFICE:

Mackenzies Accountants

4 Kings Row

Armstrong Road

Maidstone

Kent

ME15 6AQ

REGISTERED NUMBER:

02895472 (England and Wales)

ACCOUNTANTS:

Mackenzies Accountants Limited

Chartered Accountants

4 Kings Row

Armstrong Road

Maidstone

Kent

ME15 6AQ

FIXED ASSETS

Tangible assets

4

198,358

213,576

CURRENT ASSETS

Stocks

5

1,069,962

717,749

Debtors

6

764,502

402,602

Prepayments and accrued income

31,534

29,417

Cash at bank and in hand

359,376

414,024

2,225,374

1,563,792

CREDITORS

Amounts falling due within one year

7

1,326,577

705,719

NET CURRENT ASSETS

898,797

858,073

TOTAL ASSETS LESS CURRENT LIABILITIES

1,097,155

1,071,649

CREDITORS

Amounts falling due after more than one year

8

(145,936

)

(194,491

)

PROVISIONS FOR LIABILITIES

10

(6,681

)

(6,893

)

NET ASSETS

944,538

870,265

CAPITAL AND RESERVES

Called up share capital

11

2

2

Retained earnings

944,536

870,263

SHAREHOLDERS' FUNDS

944,538

870,265

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 December 2023 and were signed on its behalf by:

Mr H B Jackson - Director

1.	STATUTORY INFORMATION

Eclipse (Distributors) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Improvements to property

-

25% on cost

Plant and machinery

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

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 Profit and Loss Account, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Where the exchange rate has not fluctuated significantly during the year an average exchange rate is used throughout the period.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Long

Improvements

Plant and

leasehold

to property

machinery

£

£

£

COST

At 1 April 2022

243,452

79,695

20,943

Additions

-

-

-

Disposals

-

-

-

At 31 March 2023

243,452

79,695

20,943

DEPRECIATION

At 1 April 2022

66,949

72,070

19,939

Charge for year

4,869

-

251

Eliminated on disposal

-

-

-

At 31 March 2023

71,818

72,070

20,190

NET BOOK VALUE

At 31 March 2023

171,634

7,625

753

At 31 March 2022

176,503

7,625

1,004

Office

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2022

25,007

19,800

67,975

456,872

Additions

1,370

-

3,364

4,734

Disposals

-

(19,800

)

-

(19,800

)

At 31 March 2023

26,377

-

71,339

441,806

DEPRECIATION

At 1 April 2022

23,934

14,188

46,216

243,296

Charge for year

290

1,286

8,930

15,626

Eliminated on disposal

-

(15,474

)

-

(15,474

)

At 31 March 2023

24,224

-

55,146

243,448

NET BOOK VALUE

At 31 March 2023

2,153

-

16,193

198,358

At 31 March 2022

1,073

5,612

21,759

213,576

The long leasehold property is subject to a 125 year lease commencing on 27th October 1988, it was acquired by the company on 12th June 2008. The useful economic life of the property is considered to be 50 years. The property's address is Unit 2, Barrington Industrial Estate, Leicester, LE4 1ET.

The company has a long standing accounting policy of writing down all assets with a net book value of less than £500 to £Nil. The additional depreciation charge during the year relating to fixed asset write-downs was £657 (2022: £1,440).

5.

STOCKS

2023

2022

£

£

Stocks

1,069,962

717,749

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

642,190

310,919

Other debtors

25,000

27,700

VAT

97,312

63,983

764,502

402,602

Other debtors includes an amount of £25,000 (2022: £25,000) paid to the company's landlords by way of a security deposit for the renewed lease of the business premises and £Nil (2022: £2,700) deposit for computer software.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

45,716

44,529

Trade creditors

406,678

267,107

Amounts owed to group undertakings

649,944

163,105

Tax

74,877

73,890

Social security and other taxes

10,877

14,557

Pension liability

1,673

1,784

Directors' current accounts

-

3,120

Accrued expenses

136,812

137,627

1,326,577

705,719

Amounts owed to group undertakings relates to a balance due to Synergy Lighting Limited, a group company of £599,944 (2022: £163,105), and also a balance due to Darap Limited, a group company, of £50,000 (2022: £Nil).

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 1-2 years

46,883

45,644

Bank loans - 2-5 years

99,053

144,009

Bank loans - over 5 years

-

4,838

145,936

194,491

Amounts falling due in more than five years:

Repayable by instalments

Bank loans - over 5 years

-

4,838

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2023

2022

£

£

Within one year

95,100

95,100

Between one and five years

380,400

380,400

In more than five years

142,650

237,750

618,150

713,250

The lease commitments relate to the rental of premises.

10.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

6,681

6,893

Deferred tax

£

Balance at 1 April 2022

6,893

Provided during year

(212

)

Accelerated capital allowances

Balance at 31 March 2023

6,681

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

£1

2

2

12.	RELATED PARTY DISCLOSURES

The company received an amount of £233,500 (2022: £174,782) from Synergy Lighting Limited (a group company) in respect of premises rent and rates and a contribution to other overheads.These transactions were undertaken at market rates.

At the year end, an amount of £599,944 (2022: £163,105) was due to Synergy Lighting Limited (a group company) and also an amount of £50,000 (2022: £nil) was due to Darap Limited (a group company).

13.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party, no individual shareholder holds more than 18.8% of the issued share capital of the ultimate parent company DARAP Limited.