REGISTERED NUMBER:
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EYG Domestic Limited |
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 31st October 2019 |
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REGISTERED NUMBER:
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EYG Domestic Limited |
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 31st October 2019 |
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EYG Domestic Limited (Registered number: 06266000) |
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Contents of the Financial Statements |
for the year ended 31st October 2019 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 4 |
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Statement of Comprehensive Income | 6 |
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Balance Sheet | 7 |
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Statement of Changes in Equity | 8 |
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Notes to the Financial Statements | 9 |
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EYG Domestic Limited |
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Company Information |
for the year ended 31st October 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
EYG Domestic Limited (Registered number: 06266000) |
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Strategic Report |
for the year ended 31st October 2019 |
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The directors present their strategic report for the year ended 31st October 2019. |
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REVIEW OF BUSINESS |
Following a difficult start to the year with domestic customers deferring installation dates due to the Brexit uncertainty, |
together with increasing material costs, the company improved margins and reduced costs in the second half of the |
year. In the opinion of the Directors, the company performed satisfactorily during the year. The directors will continue |
to seek ways to improve further the company's turnover and operating profit. |
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Clearly with the advent of the COVID-19 pandemic we are in uncertain times and the directors are mindful of the |
impact on the future prospects for the company. The directors have therefore assessed the likely impact of this, and |
more details have been disclosed in the accounting policies. |
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Given the straightforward nature of the business, the company's directors are of the opinion that an analysis using Key |
Performance Indicators is not necessary for an understanding of the development, performance or position of the |
business. |
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ON BEHALF OF THE BOARD: |
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EYG Domestic Limited (Registered number: 06266000) |
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Report of the Directors |
for the year ended 31st October 2019 |
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The directors present their report with the financial statements of the company for the year ended 31st October 2019. |
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DIVIDENDS |
No dividends will be distributed for the year ended 31st October 2019. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st November 2018 to the date of this |
report. |
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Other changes in directors holding office are as follows: |
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In accordance with the company's Articles of Association the directors are not required to retire by rotation. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial |
statements in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the |
directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted |
Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the |
directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the |
state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial |
statements, the directors are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible |
for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of |
fraud and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies |
Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought |
to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish |
that the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
EYG Domestic Limited |
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Opinion |
We have audited the financial statements of EYG Domestic Limited (the 'company') for the year ended |
31st October 2019 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in |
Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial |
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting |
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and |
Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
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In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 31st October 2019 and of its profit for the year
then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. |
Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the |
financial statements section of our report. We are independent of the company in accordance with the ethical |
requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, |
and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit |
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
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Conclusions relating to going concern |
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to |
you where: |
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the directors' use of the going concern basis of accounting in the preparation of the financial statements is not
appropriate; or |
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the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. |
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Other information |
The directors are responsible for the other information. The other information comprises the information in the |
Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the |
Auditors thereon. |
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Our opinion on the financial statements does not cover the other information and, except to the extent otherwise |
explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
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In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing |
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge |
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or |
apparent material misstatements, we are required to determine whether there is a material misstatement in the |
financial statements or a material misstatement of the other information. If, based on the work we have performed, we |
conclude that there is a material misstatement of this other information, we are required to report that fact. We have |
nothing to report in this regard. |
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Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
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the information given in the Strategic Report and the Report of the Directors for the financial year for which the
financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal
requirements. |
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Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the |
audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
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We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to |
you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Report of the Independent Auditors to the Members of |
EYG Domestic Limited |
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Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are |
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, |
and for such internal control as the directors determine necessary to enable the preparation of financial statements that |
are free from material misstatement, whether due to fraud or error. |
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In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a |
going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of |
accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic |
alternative but to do so. |
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Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from |
material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. |
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with |
ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and |
are considered material if, individually or in the aggregate, they could reasonably be expected to influence the |
economic decisions of users taken on the basis of these financial statements. |
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A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting |
Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
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Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Statutory Auditor |
Regent's Court |
Princess Street |
Hull |
East Yorkshire HU2 8BA |
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EYG Domestic Limited (Registered number: 06266000) |
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Statement of Comprehensive Income |
for the year ended 31st October 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
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TURNOVER | 2 |
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Cost of sales |
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GROSS PROFIT |
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Distribution costs |
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Administrative expenses |
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907,854 | 1,358,403 |
OPERATING PROFIT | 4 |
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Interest receivable and similar income |
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38,860 | 74,217 |
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Interest payable and similar expenses | 5 |
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PROFIT BEFORE TAXATION |
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Tax on profit | 6 | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR |
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EYG Domestic Limited (Registered number: 06266000) |
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Balance Sheet |
31st October 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 7 |
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CURRENT ASSETS |
Stocks | 8 |
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Debtors | 9 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 10 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
11 |
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PROVISIONS FOR LIABILITIES | 15 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 16 |
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Retained earnings | 17 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
by: |
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EYG Domestic Limited (Registered number: 06266000) |
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Statement of Changes in Equity |
for the year ended 31st October 2019 |
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Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
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Balance at 1st November 2017 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 31st October 2018 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 31st October 2019 |
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EYG Domestic Limited (Registered number: 06266000) |
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Notes to the Financial Statements |
for the year ended 31st October 2019 |
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1. | ACCOUNTING POLICIES |
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General information basis of preparing the financial statements |
EYG Domestic Limited is a private company, limited by shares, registered in England and Wales. The address |
of the registered office is given in the company information on page 1 of these financial statements. |
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The financial statements have been prepared in accordance with applicable accounting standards including |
Financial Reporting Standard 102: "The Financial Reporting Standard in the UK and Republic of Ireland" (FRS |
102) and the Companies Act 2006. The financial statements have been prepared on a going concern basis |
under the historical cost convention, modified to include certain items at fair value. |
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The directors have considered the economic impact of COVID-19 on the ability of the business to continue. |
There is clearly some uncertainty surrounding the future of the wider economy, customers, suppliers and our |
staff, but we consider that our core business will remain in the long-term. We have therefore updated our |
existing forecasts to allow for the impact of a reduction in trade, whilst also having access to support currently |
being offered by the United Kingdom Government. We believe that our assumptions are realistic based on |
evidence currently available, and that the company will consequently have enough headroom within its liquid |
capital to continue for the foreseeable future. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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The financial statements are prepared in Sterling. |
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Financial Reporting Standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows; |
• | the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d); |
• | the requirement of Section 33 Related Party Disclosures paragraph 33.7. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade |
discounts. The policies adopted for recognition of turnover are as follows: |
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Turnover from the the manufacturing and installation of single and double glazed windows and doors together |
with ancillary services is recognised when significant risks and rewards of ownership of the good have |
transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic |
benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in |
respect of the transaction can be measured reliably. |
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Tangible fixed assets |
Tangible fixed assets stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of |
operating as intended. |
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Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated |
residual value based on prices prevailing at the date of acquisition of each asset, evenly over its expected |
useful life, as follows: |
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Plant and machinery, fixtures and fittings | - | 10 years |
Motor Vehicles | - | 25% reducing balance |
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Stock and work in progress |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and install. Cost |
includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present |
location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, |
obsolete and slow-moving stock where appropriate. |
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Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of |
activity. Provision is made for any foreseeable losses where appropriate. |
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EYG Domestic Limited (Registered number: 06266000) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2019 |
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1. | ACCOUNTING POLICIES - continued |
Taxation |
Current tax represents the amount payable or receivable in respect of the taxable profit or loss for the current or |
past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and |
laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax represents the future tax consequences of transactions and events recognised in the financial |
statements of current and previous periods. It is recognised in respect of all timing differences, with certain |
exceptions. Timing differences are differences between taxable profits and total comprehensive income as |
stated in the financial statements that arise from the inclusion of income and expense in tax assessments in |
periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and |
other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against |
the reversal of deferred tax liabilities or other future taxable profits. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued |
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances |
that apply to the sale of the asset. |
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Leases |
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the |
expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the |
reduction of the outstanding lease liability using the effective interest method. The related obligations, net of |
future finance charges, are included in creditors. |
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Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights |
to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance |
income and the reduction of the lease debtor with finance income allocated so as to produce a constant |
periodic rate of interest on the net investment in the finance lease. |
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Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight |
line basis over the period of the lease. |
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Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees |
are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
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The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed |
as they become payable. |
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Debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each |
balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash |
generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its |
recoverable amount, an impairment loss is recognised in the profit and loss account unless the asset is carried |
at a revalued amount where the impairment loss is a revaluation decrease. |
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2. | TURNOVER |
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Turnover comprises the invoice value of goods and services supplied by the company exclusive of value added |
tax and arises from the one continuing activity of the company wholly within the United Kingdom. |
EYG Domestic Limited (Registered number: 06266000) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2019 |
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3. | EMPLOYEES AND DIRECTORS |
2019 | 2018 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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The average number of employees during the year was as follows: |
2019 | 2018 |
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Management and administration | 6 | 25 |
Production, sales and installation | 213 | 185 |
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2019 | 2018 |
£ | £ |
Directors' remuneration |
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Seven of the directors of the company are members of the EYG Group's pension scheme. Four of the |
directors of the company are remunerated through EYG Holdings Limited. |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2019 | 2018 |
£ | £ |
Hire of plant and machinery |
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Depreciation - owned assets |
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Depreciation - assets on finance leases |
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Loss on disposal of fixed assets |
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Auditors' remuneration for audit services |
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Operating lease costs - land and buildings |
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Operating lease costs - motor vehicles |
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5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2019 | 2018 |
£ | £ |
Finance charges payable under |
finance leases |
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EYG Domestic Limited (Registered number: 06266000) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2019 |
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6. | TAXATION |
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Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
2019 | 2018 |
£ | £ |
Current tax: |
UK corporation tax |
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Prior year underprovision | - | 69 |
Total current tax |
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Deferred tax | ( |
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Tax on profit | ( |
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UK corporation tax has been charged at 19% . |
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Reconciliation of total tax (credit)/charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is |
explained below: |
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2019 | 2018 |
£ | £ |
Profit before tax |
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Profit multiplied by the standard rate of corporation tax in the UK of
(2018 - |
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Effects of: |
Expenses not deductible for tax purposes |
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Prior year underprovision |
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Group relief surrendered | ( |
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Total tax (credit)/charge | (17,434 | ) | 14,383 |
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The expected net reversal of deferred tax assets and liabilities in 2020 is £22,564. This is due to the reversal of |
accelerated capital allowances. |
EYG Domestic Limited (Registered number: 06266000) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2019 |
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7. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1st November 2018 |
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Additions |
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Disposals |
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( |
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Transfer from group company | ( |
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( |
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At 31st October 2019 |
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DEPRECIATION |
At 1st November 2018 |
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Charge for year |
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Eliminated on disposal |
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( |
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Transfer to group company | ( |
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( |
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At 31st October 2019 |
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NET BOOK VALUE |
At 31st October 2019 |
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At 31st October 2018 |
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The net book value of fixed assets includes £222,087 (2018 £434,287) in respect of assets held under finance |
leases. |
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8. | STOCKS |
2019 | 2018 |
£ | £ |
Raw materials |
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Work-in-progress |
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Stock recognised in cost of sales during the year as an expense was £4,150,426 (2018 £4,206,666). |
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9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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10. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank overdrafts (see note 12) |
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Finance leases (see note 13) |
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Trade creditors |
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Amounts owed to group undertakings |
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Corporation tax |
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Social security and other taxes |
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Accruals and deferred income |
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EYG Domestic Limited (Registered number: 06266000) |
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Notes to the Financial Statements - continued |
for the year ended 31st October 2019 |
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11. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Finance leases (see note 13) |
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12. | BANK OVERDRAFTS |
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An analysis of the maturity of bank overdrafts is given below: |
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2019 | 2018 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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The bank overdraft is secured by way of various debentures. |
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13. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Finance leases |
2019 | 2018 |
£ | £ |
Net obligations repayable: |
Within one year |
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Between one and five years |
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Non-cancellable |
operating leases |
2019 | 2018 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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14. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2019 | 2018 |
£ | £ |
Finance leases | 199,128 | 335,739 |
|
15. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 73,860 | 100,731 |
EYG Domestic Limited (Registered number: 06266000) |
|
Notes to the Financial Statements - continued |
for the year ended 31st October 2019 |
|
15. | PROVISIONS FOR LIABILITIES - continued |
|
Deferred |
tax |
£ |
Balance at 1st November 2018 |
|
Credit to Statement of Comprehensive Income during year | ( |
) |
Balance at 31st October 2019 |
|
|
16. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
|
Equity - ordinary | £1 | 2 | 2 |
|
17. | RESERVES |
Retained |
earnings |
£ |
|
At 1st November 2018 |
|
Profit for the year |
|
At 31st October 2019 |
|
|
Retained Earnings |
|
Retained earnings represents cumulative profits and losses net of dividends and other adjustments. |
|
18. | PENSION COMMITMENTS |
|
The group operates a defined contribution scheme. The total contributions to the scheme in the year were |
£84,946 (2018 £71,221).There were no amounts outstanding at 31 October 2019 (2018: £Nil). |
|
19. | ULTIMATE PARENT COMPANY |
|
EYG Holdings Limited is regarded by the directors as being the company's ultimate parent company by virtue |
of its 100% shareholding. |
|
Copies of the group accounts can be obtained from Companies House, Crown Way, Cardiff, Wales. |
|
20. | CONTINGENT LIABILITIES |
|
The company is also party to a group VAT registration with EYG Holdings Limited and East Yorkshire |
Aluminium and Glass Limited. At 31st October 2019 the additional maximum potential liability of the company |
was £129,701 (2018 £Nil). |
|
21. | RELATED PARTY DISCLOSURES |
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
|
22. | ULTIMATE CONTROLLING PARTY |
|
EYG Holdings Limited is regarded by the directors as being the ultimate parent company which is not under the |
control of any one party. |