Registered number
07476794
Edwards Powell Limited
Unaudited Filleted Accounts
31 December 2021
Edwards Powell Limited
Registered number: 07476794
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 3 6,115 7,640
Current assets
Debtors 4 9,008 3,145
Cash at bank and in hand 21,103 18,951
30,111 22,096
Creditors: amounts falling due within one year 5 (20,135) (17,601)
Net current assets 9,976 4,495
Total assets less current liabilities 16,091 12,135
Creditors: amounts falling due after more than one year 6 (14,656) (10,585)
Provisions for liabilities (945) (1,411)
Net assets 490 139
Capital and reserves
Called up share capital 100 100
Profit and loss account 390 39
Shareholders' funds 490 139
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P. Fulker
Director
Approved by the board on 22 August 2022
Edwards Powell Limited
Notes to the Accounts
for the year ended 31 December 2021
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 2-10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets, other than loans to the employees, are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2021 26,290
Additions 1,142
At 31 December 2021 27,432
Depreciation
At 1 January 2021 18,650
Charge for the year 2,667
At 31 December 2021 21,317
Net book value
At 31 December 2021 6,115
At 31 December 2020 7,640
4 Debtors 2021 2020
£ £
Other debtors 9,008 3,145
5 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 3,543 970
Trade creditors 6,784 5,157
Taxation and social security costs 9,419 11,474
Other creditors 389 -
20,135 17,601
6 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 14,331 10,585
Other creditors 325 -
14,656 10,585
7 Loans 2021 2020
£ £
Creditors include:
Instalments falling due for payment after more than five years - 980
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P. Fulker
Overdrawn director's loan account, interest free and repayable on demand - 6,345 - 6,345
- 6,345 - 6,345
9 Controlling party
The company is controlled by the director and his family.
10 Other information
Edwards Powell Limited is a private company limited by shares and incorporated in England. Its registered office is:
Clearways Accountants
Clearways
Colley Way
Reigate
RH2 9JH
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