Registration number:
Eagle One Residential Limited
for the Year Ended 30 September 2019
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG
Eagle One Residential Limited
(Registration number: 09696778)
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Eagle One Residential Limited
(Registration number: 09696778)
Company Information
Directors |
P J Goodes C D Fayers N I Hole J M Symons |
Registered office |
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Accountants |
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Eagle One Residential Limited
(Registration number: 09696778)
Balance Sheet as at 30 September 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Work in progress |
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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 assets |
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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 30 September 2019 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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Eagle One Residential Limited
(Registration number: 09696778)
Balance Sheet as at 30 September 2019
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Director
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Eagle One Residential Limited
(Registration number: 09696778)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
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.
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 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 Residential Limited
(Registration number: 09696778)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
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
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.
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 valued 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.
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Eagle One Residential Limited
(Registration number: 09696778)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
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
Tangible assets |
Investment property |
Total |
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Cost or valuation |
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At 1 October 2018 |
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Revaluations |
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Additions |
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At 30 September 2019 |
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Carrying amount |
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At 30 September 2019 |
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At 30 September 2018 |
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The investments represent freehold titles for rented properties.
Revaluation
The fair value of the company's investment property was valued on an open market basis by the directors on 30 September 2019. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £17 (2018 - £13).
Work in progress |
2019 |
2018 |
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Work in progress |
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Eagle One Residential Limited
(Registration number: 09696778)
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2019
Debtors |
2019 |
2018 |
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Trade debtors |
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Prepayments and accrued income |
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Other debtors |
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Amounts owed by related parties |
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Creditors |
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Accrued expenses |
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Taxation and social security |
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Amounts owed to related parties |
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Other creditors |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The ultimate controlling party is
Relationship between entity and parent
The parent of the smallest group in which these financial statements are consolidated is
The address of Eagle One Holdings Limited is:
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