| EATON FINANCE LIMITED |
| Registered number: |
01350672 |
| Abbreviated Balance Sheet |
| as at 31 May 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
30,001 |
|
|
52,501 |
| Investments |
3 |
|
|
3,041 |
|
|
7,018 |
|
|
|
|
33,042 |
|
|
59,519 |
|
| Current assets |
| Debtors |
|
|
4,080 |
|
|
3,888 |
| Cash at bank and in hand |
|
|
129,657 |
|
|
124,421 |
|
|
|
133,737 |
|
|
128,309 |
|
| Creditors: amounts falling due within one year |
|
|
(53,934) |
|
|
(54,256) |
|
| Net current assets |
|
|
|
79,803 |
|
|
74,053 |
|
| Net assets |
|
|
|
112,845 |
|
|
133,572 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
1,000 |
|
|
1,000 |
| Revaluation reserve |
|
|
|
6,000 |
|
|
28,500 |
| Profit and loss account |
|
|
|
105,845 |
|
|
104,072 |
|
| Shareholders' funds |
|
|
|
112,845 |
|
|
133,572 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| C. J. Lea |
| Director |
| Approved by the board on 19 January 2016 |
|
| EATON FINANCE LIMITED |
| Notes to the Abbreviated Accounts |
| for the year ended 31 May 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention, as modified by the revaluation of properties and investments, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value of goods and services supplied by the company, net of value added tax and trade discounts. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Office equipment |
33⅓% straight line |
|
|
Investment property |
|
In accordance with SSAP 19, (i) investment properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve, and (ii) no depreciation or amortisation is provided in respect of freehold investment properties and leasehold investment properties with over 20 years to run. The directors consider that this accounting policy results in the accounts giving a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
|
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 June 2014 |
53,785 |
|
At 31 May 2015 |
53,785 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2014 |
1,284 |
|
Deficit on revaluation |
22,500 |
|
At 31 May 2015 |
23,784 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2015 |
30,001 |
|
At 31 May 2014 |
52,501 |
|
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 1 June 2014 |
7,018 |
|
Provision for diminution in value |
(3,977) |
|
|
At 31 May 2015 |
3,041 |
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
