Eclipse Access Solutions Limited
Company Registration No. 05413810 (England And Wales)
Unaudited Financial Statements
Year Ended 31 August 2021
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
BALANCE SHEET
AS AT 31 AUGUST 2021
31 August 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
73,982
44,429
Current assets
Stocks
56,000
56,076
Debtors
5
144,364
65,217
Cash at bank and in hand
280,750
261,824
481,114
383,117
Creditors: amounts falling due within one year
6
(87,195)
(82,105)
Net current assets
393,919
301,012
Total assets less current liabilities
467,901
345,441
Provisions for liabilities
(7,045)
(6,555)
Net assets
460,856
338,886
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
460,756
338,786
Total equity
460,856
338,886
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2021
31 August 2021
- 2 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 4 July 2022
Mr P D Hughes
Director
Company Registration No. 05413810
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
- 3 -
1
Accounting policies
Company information
Eclipse Access Solutions Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Bank Chambers, 3 Churchyardside, Nantwich, England, CW5 5DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Plant and equipment
25% on reducing balance
Fixtures and fittings
20% on reducing balance
Computers
20% on reducing balance
Motor vehicles
25% on reducing balance
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the
company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.13
Foreign exchange
Transactions in currencies other than
pounds sterling
are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
8
10
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 6 -
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2020
49,468
6,768
910
51,339
108,485
Additions
380
857
86,880
88,117
Disposals
(4,838)
(51,339)
(56,177)
At 31 August 2021
45,010
6,768
1,767
86,880
140,425
Depreciation and impairment
At 1 September 2020
39,686
6,134
444
17,792
64,056
Depreciation charged in the year
2,418
127
265
21,720
24,530
Eliminated in respect of disposals
(4,351)
(17,792)
(22,143)
At 31 August 2021
37,753
6,261
709
21,720
66,443
Carrying amount
At 31 August 2021
7,257
507
1,058
65,160
73,982
At 31 August 2020
9,782
634
466
33,547
44,429
4
Directors' advances, credit and guarantees
Included within other debtors is a loan to the directors for £
11,327
(20
20
: £
1,358
). Interest has been charged on this loan at the official rate.
The loan was fully repaid by 31 May 2022.
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
118,784
53,037
Other debtors
25,580
12,180
144,364
65,217
ECLIPSE ACCESS SOLUTIONS LIMITED
Eclipse Access Solutions Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
- 7 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
35,319
22,593
Corporation tax
45,399
54,113
Other taxation and social security
3,829
3,068
Other creditors
2,648
2,331
87,195
82,105