Registration number:
Eagle One MMIII Limited
for the Year Ended 31 March 2018
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
Eagle One MMIII Limited
(Registration number: 04614207)
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Eagle One MMIII Limited
(Registration number: 04614207)
Company Information
Directors |
C D Fayers P J Goodes N I Hole P R Withers |
Registered office |
|
Accountants |
|
Page 1 |
Eagle One MMIII Limited
(Registration number: 04614207)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
|
Fixed assets |
|||
Investment property |
|
- |
|
Current assets |
|||
Work in progress |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Revaluation reserve |
|
- |
|
Profit and loss account |
|
|
|
Total equity |
|
|
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:
• |
|
• |
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
.........................................
Director
Page 2 |
Eagle One MMIII Limited
(Registration number: 04614207)
Notes to the Financial Statements for the Year Ended 31 March 2018
General information |
The company is a 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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- legal completion has taken place.
Tax
The current 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.
Investment property
Page 3 |
Eagle One MMIII Limited
(Registration number: 04614207)
Notes to the Financial Statements for the Year Ended 31 March 2018
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.
Work in progress
Work in progress is measured at the lower of cost and net realisable value.
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.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Page 4 |
Eagle One MMIII Limited
(Registration number: 04614207)
Notes to the Financial Statements for the Year Ended 31 March 2018
Investment properties |
2018 |
|
Transfers from work in progress |
|
Revaluation of investment property |
|
At 31 March 2018 |
|
Valuation
The fair value of the company's Investment property was valued by the directors on 31 March 2018 on an open market basis. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £402,016.
There has been no valuation of investment property by an independent valuer.
Work In Progress |
2018 |
2017 |
|
Work in progress |
|
|
Debtors |
2018 |
2017 |
|
Amounts owed by group undertakings |
|
|
Other debtors |
- |
|
Prepayments |
|
|
Total current trade and other debtors |
|
|
Page 5 |
Eagle One MMIII Limited
(Registration number: 04614207)
Notes to the Financial Statements for the Year Ended 31 March 2018
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accrued expenses |
|
|
Amounts owed to group undertakings |
|
|
|
|
The loan owed to group undertakings is secured by a bank charge over the company's assets. The company has provided a cross guarantee in respect of the loan. The loan will be repaid in full on 30 April 2020.
Parent and ultimate parent undertaking |
The company's immediate parent company is
The company's ultimate parent company is
The company's 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 Investment Holdings Limited is:
Page 6 |