18
false
false
false
false
false
false
false
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true
false
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false
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false
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No description of principal activity
2020-08-01
Sage Accounts Production Advanced 2020 - FRS102_2019
100
100
100
xbrli:pure
xbrli:shares
iso4217:GBP
2601888
2020-08-01
2021-07-31
2601888
2021-07-31
2601888
2020-07-31
2601888
2019-08-01
2020-07-31
2601888
2020-07-31
2601888
core:FurnitureFittings
2020-08-01
2021-07-31
2601888
core:MotorVehicles
2020-08-01
2021-07-31
2601888
bus:Director1
2020-08-01
2021-07-31
2601888
core:WithinOneYear
2021-07-31
2601888
core:WithinOneYear
2020-07-31
2601888
core:AfterOneYear
2021-07-31
2601888
core:AfterOneYear
2020-07-31
2601888
core:ShareCapital
2021-07-31
2601888
core:ShareCapital
2020-07-31
2601888
core:RetainedEarningsAccumulatedLosses
2021-07-31
2601888
core:RetainedEarningsAccumulatedLosses
2020-07-31
2601888
core:CostValuation
core:Non-currentFinancialInstruments
2021-07-31
2601888
core:Non-currentFinancialInstruments
2021-07-31
2601888
core:Non-currentFinancialInstruments
2020-07-31
2601888
bus:SmallEntities
2020-08-01
2021-07-31
2601888
bus:AuditExemptWithAccountantsReport
2020-08-01
2021-07-31
2601888
bus:AbridgedAccounts
2020-08-01
2021-07-31
2601888
bus:SmallCompaniesRegimeForAccounts
2020-08-01
2021-07-31
2601888
bus:PrivateLimitedCompanyLtd
2020-08-01
2021-07-31
COMPANY REGISTRATION NUMBER:
2601888
Golden Eagle International Limited
|
|
Filleted Unaudited Abridged Financial Statements
|
|
Golden Eagle International Limited
|
|
Abridged Statement of Financial Position
|
|
31 July 2021
Fixed assets
Tangible assets
|
5
|
|
184,745
|
143,826
|
Investments
|
6
|
|
100
|
100
|
|
|
---------
|
---------
|
|
|
184,845
|
143,926
|
|
|
|
|
|
Current assets
Debtors
|
490,220
|
|
275,228
|
Cash at bank and in hand
|
1,134,454
|
|
839,183
|
|
------------
|
|
------------
|
|
1,624,674
|
|
1,114,411
|
|
|
|
|
Creditors: amounts falling due within one year
|
1,168,579
|
|
930,067
|
|
------------
|
|
------------
|
Net current assets
|
|
456,095
|
184,344
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
640,940
|
328,270
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
|
282,582
|
50,000
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
34,460
|
26,544
|
|
|
---------
|
---------
|
Net assets
|
|
323,898
|
251,726
|
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
300
|
300
|
Profit and loss account
|
|
323,598
|
251,426
|
|
|
---------
|
---------
|
Shareholders funds
|
|
323,898
|
251,726
|
|
|
---------
|
---------
|
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 July 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Golden Eagle International Limited
|
|
Abridged Statement of Financial Position (continued)
|
|
31 July 2021
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
28 April 2022
, and are signed on behalf of the board by:
Company registration number:
2601888
Golden Eagle International Limited
|
|
Notes to the Abridged Financial Statements
|
|
Year ended 31 July 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 151 Askew Road, London, W12 9AU.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rent and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings
|
-
|
25% reducing balance
|
|
Motor vehicles
|
-
|
25% reducing balance
|
|
Equipment
|
-
|
|
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
18
(2020:
18
).
5.
Tangible assets
|
£
|
Cost
|
|
At 1 August 2020
|
405,597
|
Additions
|
102,500
|
|
---------
|
At 31 July 2021
|
508,097
|
|
---------
|
Depreciation
|
|
At 1 August 2020
|
261,771
|
Charge for the year
|
61,581
|
|
---------
|
At 31 July 2021
|
323,352
|
|
---------
|
Carrying amount
|
|
At 31 July 2021
|
184,745
|
|
---------
|
At 31 July 2020
|
143,826
|
|
---------
|
|
|
6.
Investments
|
Other investments other than loans
|
|
£
|
Cost
|
|
At 1 August 2020 and 31 July 2021
|
100
|
|
----
|
Impairment
|
|
At 1 August 2020 and 31 July 2021
|
–
|
|
----
|
|
|
Carrying amount
|
|
At 31 July 2021
|
100
|
|
----
|
At 31 July 2020
|
100
|
|
----
|
|
|
7.
Deferred tax
The deferred tax included in the abridged statement of financial position is as follows:
|
2021
|
2020
|
|
£
|
£
|
Included in provisions
|
34,460
|
26,544
|
|
--------
|
--------
|
|
|
|
8.
Directors' advances, credits and guarantees
At year end
Mr R Siha
owed the company £61,530 (2020: £61,661).
9.
Related party transactions
At year end the company owed St George Properties (UK) Limited £109,274 (2020: £113,012). During the year the company paid the directors £35,000 (2020: 57,000) in dividends.