Registration number:
Eagle One Village Shopping Limited
for the Year Ended 31 March 2018
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
Eagle One Village Shopping Limited
(Registration number: 03211055)
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Eagle One Village Shopping Limited
(Registration number: 03211055)
Company Information
Directors |
P J Goodes N I Hole |
Registered office |
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Bankers |
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Accountants |
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Page 1 |
Eagle One Village Shopping Limited
(Registration number: 03211055)
Balance Sheet as at 31 March 2018
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2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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P J Goodes
Director
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Financial Statements for the Year Ended 31 March 2018
General information |
The company is a private company limited by share capital incorporated in the United Kingdom.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
The company is part of a small group. The company has taken advantage of the exemption provided by Section 399 (2A) of the Companies Act 2006 and has not prepared group accounts.
Revenue recognition
The company recognises revenue on an accruals basis, when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the company. Revenue comprises rental income from tenants of the company's investment and trading properties.
Rental income from investment property leased out under an operating lease is recognised in the income statement on a straight line basis over the term of the lease.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Financial Statements for the Year Ended 31 March 2018
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Investment property
No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation 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.
Investments
Investments are stated at historical cost less provision for any diminution in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Assets held for use in operating leases are included in fixed assets at valuation and depreciated in accordance with the class of asset.
Rental income from operating leases is recognised on a straight line basis over the term of the lease.
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Financial Statements for the Year Ended 31 March 2018
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Tangible assets |
Investment property |
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Cost or valuation |
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At 1 April 2017 |
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Additions |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Revaluation
The fair value of the company's investment property was valued on an open market basis by the directors on
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Financial Statements for the Year Ended 31 March 2018
Investments |
2018 |
2017 |
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Investments in subsidiaries |
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Subsidiaries |
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Cost or valuation |
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At 1 April 2017 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2018 |
2017 |
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Subsidiary undertakings |
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Eagle House
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Ordinary |
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United Kingdom |
The principal activity of Wilton Village Shopping Management Company Limited is |
The profit for the financial period of Wilton Village Shopping Management Company Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £(88). |
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Financial Statements for the Year Ended 31 March 2018
Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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Total current trade and other debtors |
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Creditors |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Amounts owed to related parties |
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Taxation and social security |
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Other creditors |
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Accrued expenses |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is
Relationship between entity and parents
The parent of the smallest group in which these financial statements are consolidated is
The address of Eagle One FOC Holdings Limited is:
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