Eagle Scientific Limited - Accounts to registrar - small 17.2
Eagle Scientific Limited - Accounts to registrar - small 17.2
| EAGLE SCIENTIFIC LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| EAGLE SCIENTIFIC LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants and Business Advisers |
| Oakhurst House |
| 57 Ashbourne Road |
| Derby |
| Derbyshire |
| DE22 3FS |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| BALANCE SHEET |
| 31 MARCH 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Capital redemption reserve | 13 |
| Retained earnings | 13 |
| SHAREHOLDERS' FUNDS |
| 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. |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| BALANCE SHEET - continued |
| 31 MARCH 2017 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 1. | STATUTORY INFORMATION |
| Eagle Scientific Limited is a |
| company's registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements for the year 31 March 2017 are the first financial statements that comply with FRS |
| 102. The date of transition is 1 April 2015. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Eagle Scientific Limited as an individual company and do |
| not contain consolidated financial information as the parent of a group. The company has taken the option |
| under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of long term |
| contracts where turnover is recognised when the company obtains the right to consideration. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less impairment. |
| Investment property |
| Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied by |
| the companies in the group, is classified as investment property. Investment property is measured initially at its |
| cost, including related transaction costs |
| In accordance with Financial Reporting Standard 102 (FRS 102), investment properties are revalued and the |
| surplus or deficit is transferred to the profit and loss account, and no depreciation is provided in respect of |
| freehold investment properties. The requirement of the Companies Act 2006 is to depreciate all properties, but |
| that requirement conflicts with the generally accepted accounting principle set out in FRS 102. The director |
| considers that to depreciate such properties would not give a true and fair view, but that a true and fair view is |
| given by following FRS 102 as described above. The effect of this departure from the Companies Act 2006 has |
| not been quantified because it is impracticable and, in the opinion of the director, would be misleading. |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stock is 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 Income Statement, 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. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling |
| at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
| lease. |
| 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. |
| Financial liabilities |
| Short term creditors are measured at transaction price. Other financial liabilities, including loans from group |
| companies are measured initially at fair value, net of transaction cost and are measured subsequently at |
| amortised cost using the effective interest method, less any impairment. |
| Financial assets |
| Short term debtors are measured at transaction price, less any impairment. Other financial assets, including |
| loans to group companies are measured initially at fair value, net of transactions cost and are subsequently |
| measured at amortised cost using the effective interest method, less any impairment. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2016 |
| Additions |
| At 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| Additions |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: United Kingdom |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2017 |
| £ |
| Aggregate capital and reserves |
| Profit for the year |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 7. | STOCKS |
| 2017 | 2016 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors | - | 15,000 |
| Other loans | - | 53,160 |
| VAT |
| Prepayments |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | - | 7,993 |
| Directors' current accounts | - | 26,827 |
| Accruals and deferred income |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other creditors |
| EAGLE SCIENTIFIC LIMITED (REGISTERED NUMBER: 01446445) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2017 |
| 11. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 1,908 | 2,653 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2016 |
| Provided during year | ( |
) |
| Balance at 31 March 2017 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 150,000 | 150,000 |
| 13. | RESERVES |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 April 2016 | 3,849,331 |
| Profit for the year |
| At 31 March 2017 | 3,956,031 |
| 14. | FIRST YEAR ADOPTION |
| The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
| and have not impacted on equity or profit and loss. |