Caseware UK (AP4) 2016.0.181 2016.0.181 2017-02-282017-02-28No description of principal activityfalse2016-03-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue 05351187 2016-03-01 2017-02-28 05351187 2015-03-01 2016-02-29 05351187 2017-02-28 05351187 2016-02-29 05351187 c:Director1 2016-03-01 2017-02-28 05351187 d:PlantMachinery 2016-03-01 2017-02-28 05351187 d:PlantMachinery 2017-02-28 05351187 d:PlantMachinery 2016-02-29 05351187 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-03-01 2017-02-28 05351187 d:FurnitureFittings 2016-03-01 2017-02-28 05351187 d:ComputerEquipment 2016-03-01 2017-02-28 05351187 d:CurrentFinancialInstruments 2017-02-28 05351187 d:CurrentFinancialInstruments 2016-02-29 05351187 d:CurrentFinancialInstruments d:WithinOneYear 2017-02-28 05351187 d:CurrentFinancialInstruments d:WithinOneYear 2016-02-29 05351187 d:ShareCapital 2017-02-28 05351187 d:ShareCapital 2016-02-29 05351187 d:RetainedEarningsAccumulatedLosses 2017-02-28 05351187 d:RetainedEarningsAccumulatedLosses 2016-02-29 05351187 d:AcceleratedTaxDepreciationDeferredTax 2017-02-28 05351187 c:FRS102 2016-03-01 2017-02-28 05351187 c:AuditExempt-NoAccountantsReport 2016-03-01 2017-02-28 05351187 c:FullAccounts 2016-03-01 2017-02-28 05351187 c:PrivateLimitedCompanyLtd 2016-03-01 2017-02-28 iso4217:GBP xbrli:pure

Registered number: 05351187










EDEN ESTATE AGENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2017

 
EDEN ESTATE AGENTS LIMITED
REGISTERED NUMBER: 05351187

BALANCE SHEET
AS AT 28 FEBRUARY 2017

28 February
29 February
2017
2016
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
23,914
20,731

  
23,914
20,731

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
85,215
77,264

Cash at bank and in hand
 6 
100,518
43,149

  
185,733
120,413

Creditors: amounts falling due within one year
 7 
(60,881)
(44,495)

NET CURRENT ASSETS
  
 
 
124,852
 
 
75,918

TOTAL ASSETS LESS CURRENT LIABILITIES
  
148,766
96,649

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(4,400)
(3,679)

  
 
 
(4,400)
 
 
(3,679)

NET ASSETS
  
144,366
92,970


CAPITAL AND RESERVES
  

Called up share capital 
  
4
4

Profit and loss account
  
144,362
92,966

  
144,366
92,970


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2017.
N H T Miller
Director
Page 1

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

1.


GENERAL INFORMATION

Eden Estate Agents Limited is a private company, limited by shares, domiciled in England and Wales,
registration number 05351187. The registered office is 1 Little Dockray, Penrith, Cumbria CA11 7HL.

2.ACCOUNTING POLICIES

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Plant and machinery
-
20% reducing balance
Fixtures and fittings
-
20% reducing balance
Computer equipment
-
33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Page 2

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Page 3

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 4

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

Staff costs, including directors' remuneration, were as follows:


The average monthly number of employees, including directors, during the year was 6 (2016 -6).

Page 5

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

4.


TANGIBLE FIXED ASSETS







Plant and machinery

£



COST OR VALUATION


At 1 March 2016
71,975


Additions
12,573



At 28 February 2017

84,548



DEPRECIATION


At 1 March 2016
51,244


Charge for the year on owned assets
9,390



At 28 February 2017

60,634



NET BOOK VALUE



At 28 February 2017
23,914



At 29 February 2016
20,731


5.


DEBTORS

28 February
29 February
2017
2016
£
£


Trade debtors
29,632
18,108

Other debtors
54,555
57,787

Prepayments and accrued income
1,028
1,369

85,215
77,264


Included within other debtors due within one year is a loan to the directors amounting to £42,924 (2016 £46,224).  Interest is charged on the loan. 



Page 6

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

6.


CASH AND CASH EQUIVALENTS

28 February
29 February
2017
2016
£
£

Cash at bank and in hand
100,518
43,149

100,518
43,149



7.


CREDITORS: Amounts falling due within one year

28 February
29 February
2017
2016
£
£

Trade creditors
14,692
13,520

Corporation tax
31,884
20,803

Other taxation and social security
7,863
5,260

Other creditors
363
3,812

Accruals and deferred income
6,079
1,100

60,881
44,495



8.


DEFERRED TAXATION




2017


£






At beginning of year
3,679


Charged to profit or loss
721



AT END OF YEAR
4,400

The provision for deferred taxation is made up as follows:

28 February
2017
£


Accelerated capital allowances
4,400

4,400

Page 7

 
EDEN ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

9.


PENSION COMMITMENTS

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £180 (2016 - £Nil). 


10.


RELATED PARTY TRANSACTIONS

The company was under the control of the directors throughout the current period. The balance owed by the
directors to the company at 28 February 2017 was £42,924 (2016 £46,224).


11.


FIRST TIME ADOPTION OF FRS 102

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 or loss.


Page 8