Registration number:
Eagle One Village Shopping Limited
for the Year Ended 31 March 2022
Eagle One Village Shopping Limited
(Registration number: 03211055)
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Eagle One Village Shopping Limited
(Registration number: 03211055)
Company Information
Directors |
P J Goodes T G Hedges N I Hole P Maclean |
Registered office |
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Accountants |
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Balance Sheet as at 31 March 2022
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2021 |
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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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Stocks |
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Debtors |
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Cash at bank and in hand |
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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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Profit and loss account |
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Total equity |
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For the financial year ending 31 March 2022 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. |
Eagle One Village Shopping Limited
(Registration number: 03211055)
Balance Sheet as at 31 March 2022
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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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
The directors have considered the impact of COVID-19 and do not consider it to have a material impact on the balances included within the financial statements.
In addition, the directors do not consider it to cast any significant doubt upon the company's ability to continue to trade as a going concern.
The directors have taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19 including managing cash flow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.
The directors have implemented a robust system of procedures and controls in order to deal with any associated risks.
Group accounts not prepared
Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
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.
Government grants
The job retention scheme grant and Wiltshire County Council H&W Covid grants have been recognised under the accrual model and are credited to income over the periods in which the compensated costs have been recognised.
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.
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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
Over 3 to 10 years |
Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Investment property
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change 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.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Investment property |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2021 |
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Additions |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Valuation
The directors have confirmed that no change to the valuation of investment property is required as at 31 March 2022. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £
Investments |
2022 |
2021 |
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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 2021 |
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Additions |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Stocks |
2022 |
2021 |
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Other stocks |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
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Eagle One Village Shopping Limited
(Registration number: 03211055)
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Creditors |
2022 |
2021 |
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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 |
At 31 March 2022, the company’s immediate and ultimate parent undertaking was Eagle One Leisure Holdings Limited. It has included the company in its group financial statements, copies of which are available from its registered office: Eagle House, 1 Babbage Way, Exeter Science Park, Exeter, Devon, EX5 2FN.