Eclipse (Distributors) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02895472 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

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

SECRETARY:

Mr R J Pawley

REGISTERED OFFICE:

12 Romney Place

Maidstone

Kent

ME15 6LE

REGISTERED NUMBER:

02895472 (England and Wales)

ACCOUNTANTS:

Mackenzies

Chartered Accountants

12 Romney Place

Maidstone

Kent

ME15 6LE

FIXED ASSETS

Tangible assets

4

229,055

220,052

CURRENT ASSETS

Stocks

5

708,572

372,265

Debtors

6

1,006,098

681,977

Prepayments and accrued income

32,586

34,025

Cash at bank and in hand

576,485

1,235,142

2,323,741

2,323,409

CREDITORS

Amounts falling due within one year

7

1,567,693

1,212,165

NET CURRENT ASSETS

756,048

1,111,244

TOTAL ASSETS LESS CURRENT LIABILITIES

985,103

1,331,296

PROVISIONS FOR LIABILITIES

9

5,771

3,818

NET ASSETS

979,332

1,327,478

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

979,330

1,327,476

SHAREHOLDERS' FUNDS

979,332

1,327,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 26 October 2018 and were signed on its behalf by:

Mr R J Pawley - 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 17 (2017 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Long

to

Plant and

leasehold

property

machinery

£

£

£

COST

At 1 April 2017

243,452

76,732

26,013

At 31 March 2018

243,452

76,732

26,013

DEPRECIATION

At 1 April 2017

42,604

71,480

18,319

Charge for year

4,869

2,184

2,986

At 31 March 2018

47,473

73,664

21,305

NET BOOK VALUE

At 31 March 2018

195,979

3,068

4,708

At 31 March 2017

200,848

5,252

7,694

Office

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2017

26,385

-

40,137

412,719

Additions

1,119

19,800

6,025

26,944

At 31 March 2018

27,504

19,800

46,162

439,663

DEPRECIATION

At 1 April 2017

22,581

-

37,683

192,667

Charge for year

3,016

2,063

2,823

17,941

At 31 March 2018

25,597

2,063

40,506

210,608

NET BOOK VALUE

At 31 March 2018

1,907

17,737

5,656

229,055

At 31 March 2017

3,804

-

2,454

220,052

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 company has a long standing accounting policy of writing down all assets with net book value of less than £500 to

zero. The additional depreciation charge during the year relating to fixed asset write-downs was £2,738 (2017: £2,463).

5.

STOCKS

2018

2017

£

£

Stocks

708,572

372,265

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,006,098

628,543

VAT

-

53,434

1,006,098

681,977

Trade debtors includes an amount of £483,149 (2017: £nil) receivable from Synergy Lighting Limited, a group company.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

664,509

897,479

Tax

140,718

153,923

Social security and other taxes

14,609

13,290

VAT

4,887

-

Other creditors

600,000

-

Accrued expenses

142,970

147,473

1,567,693

1,212,165

Trade creditors includes an amount of £nil (2017: £5,905) payable to Synergy Lighting Limited, a group company.

Other creditors consist of loans received from R & H Pawley Ltd of £200,000, D & S Adams Ltd of £200,000 and P & L

Jackson Ltd of £200,000. All three companies are under common control.

8.	LEASING AGREEMENTS

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

2018

2017

£

£

Within one year

44,078

88,155

Between one and five years

-

44,078

44,078

132,233

The lease commitments relate to the rental of premises.

9.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

5,771

3,818

Deferred

tax

£

Balance at 1 April 2017

3,818

Provided during year

1,953

Accelerated capital allowances

Balance at 31 March 2018

5,771

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

2

Ordinary

£1

2

2

11.

RESERVES

Retained

earnings

£

At 1 April 2017

1,327,476

Profit for the year

601,854

Dividends

(950,000

)

At 31 March 2018

979,330

12.	CONTINGENT LIABILITIES

The company's bankers National Westminster Bank Plc hold a reciprocal cross-guarantee between Synergy Lighting

Limited, Eclipse (Distributors) Limited, Meltek (Leicester) Limited, Darap Limited, R & H Pawley Limited, P & L Jackson

Limited and D & S Adams Limited.

13.	RELATED PARTY DISCLOSURES

Management charges were received from Synergy Lighting Limited amounting to £44,888 (2017: £92,741).

The company received from Synergy Lighting Limited an amount of £133,746 (2017: £54,000) in respect of premises rent

and rates and a contribution to other overheads.

The above transactions were at market rates.

14.	ULTIMATE CONTROLLING PARTY

No individual is the ultimate controlling party. Richard Pawley, David Adams and Paul Jackson between them control the

majority share capital of R & H Pawley Ltd, D & S Adams Ltd and P & L Jackson Ltd respectively, which in turn hold

100% of the share capital of Darap Limited, the parent company of Eclipse (Distributors) Limited.