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Registration number: 05799195

Andy Edwards Design Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2018

WWH (Harrogate) Limited
Royal House
110 Station Parade
Harrogate
North Yorkshire
HG1 1EP

 

Andy Edwards Design Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Andy Edwards Design Limited

Company Information

Director

Mr Andrew Edwards

Company secretary

Miss Susan Jane Howarth

Registered office

16 The Avenue
Roundhay
Leeds
West Yorkshire
LS8 1JG

Accountants

WWH (Harrogate) Limited
Royal House
110 Station Parade
Harrogate
North Yorkshire
HG1 1EP

 

Andy Edwards Design Limited

(Registration number: 05799195)
Balance Sheet as at 30 April 2018

Note

2018
£

2017
£

Current assets

 

Cash at bank and in hand

 

88,884

97,598

Creditors: Amounts falling due within one year

5

(72,912)

(72,562)

Net assets

 

15,972

25,036

Capital and reserves

 

Called up share capital

6

1

1

Profit and loss account

15,971

25,035

Total equity

 

15,972

25,036

For the financial year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 on 7 November 2018
 

.........................................

Mr Andrew Edwards
Director

 

Andy Edwards Design Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 The Avenue
Roundhay
Leeds
West Yorkshire
LS8 1JG
United Kingdom

These financial statements were authorised for issue by the director on 7 November 2018.

2

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.

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;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Furniture and fittings

25% on cost

 

Andy Edwards Design Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

Andy Edwards Design Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

3

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2017

8,500

8,500

At 30 April 2018

8,500

8,500

Amortisation

At 1 May 2017

8,500

8,500

At 30 April 2018

8,500

8,500

Carrying amount

At 30 April 2018

-

-

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2017

4,560

4,560

At 30 April 2018

4,560

4,560

Depreciation

At 1 May 2017

4,560

4,560

At 30 April 2018

4,560

4,560

Carrying amount

At 30 April 2018

-

-

5

Creditors

Creditors: amounts falling due within one year

Note

2018
£

2017
£

Due within one year

 

Bank loans and overdrafts

7

72,162

71,812

Accruals and deferred income

 

750

750

 

72,912

72,562

 

Andy Edwards Design Limited

Notes to the Financial Statements for the Year Ended 30 April 2018

6

Share capital

Allotted, called up and fully paid shares

 

2018

2017

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

7

Loans and borrowings

2018
£

2017
£

Current loans and borrowings

Other borrowings

72,162

71,812

8

Related party transactions

Summary of transactions with directors

At the balance sheet date, the company owed its director £72,162 (2017: £71,812). The loan is unsecured, interest free and repayable on demand.