2 false false false false false false false false false true false false false false false false No description of principal activity 2021-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05454809 2021-04-01 2022-03-31 05454809 2022-03-31 05454809 2021-03-31 05454809 2020-04-01 2021-03-31 05454809 2021-03-31 05454809 2020-03-31 05454809 core:PlantMachinery 2021-04-01 2022-03-31 05454809 core:FurnitureFittings 2021-04-01 2022-03-31 05454809 bus:LeadAgentIfApplicable 2021-04-01 2022-03-31 05454809 bus:Director1 2021-04-01 2022-03-31 05454809 bus:Director2 2021-04-01 2022-03-31 05454809 core:WithinOneYear 2022-03-31 05454809 core:WithinOneYear 2021-03-31 05454809 core:ShareCapital 2022-03-31 05454809 core:ShareCapital 2021-03-31 05454809 core:RetainedEarningsAccumulatedLosses 2022-03-31 05454809 core:RetainedEarningsAccumulatedLosses 2021-03-31 05454809 bus:Director1 2021-03-31 05454809 bus:Director1 2022-03-31 05454809 bus:Director2 2021-03-31 05454809 bus:Director2 2022-03-31 05454809 bus:Director1 2020-03-31 05454809 bus:Director1 2021-03-31 05454809 bus:Director2 2020-03-31 05454809 bus:Director2 2021-03-31 05454809 bus:Director1 2020-04-01 2021-03-31 05454809 bus:Director2 2020-04-01 2021-03-31 05454809 bus:SmallEntities 2021-04-01 2022-03-31 05454809 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 05454809 bus:AbridgedAccounts 2021-04-01 2022-03-31 05454809 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 05454809 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 05454809 core:OfficeEquipment 2021-04-01 2022-03-31
COMPANY REGISTRATION NUMBER: 05454809
E D C Solutions Limited
Filleted Unaudited Abridged Financial Statements
31 March 2022
E D C Solutions Limited
Abridged Financial Statements
Year ended 31 March 2022
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory abridged financial statements
1
Abridged statement of financial position
2
Notes to the abridged financial statements
4
E D C Solutions Limited
Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of E D C Solutions Limited
Year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of E D C Solutions Limited for the year ended 31 March 2022, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants
2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU
E D C Solutions Limited
Abridged Statement of Financial Position
31 March 2022
2022
2021
Note
£
£
Fixed assets
Tangible assets
5
23,818
24,515
Current assets
Stocks
300
360
Debtors
24,107
16,379
Investments
6
7,689
7,689
Cash at bank and in hand
51,028
78,296
--------
---------
83,124
102,724
Creditors: amounts falling due within one year
47,930
43,528
--------
---------
Net current assets
35,194
59,196
--------
--------
Total assets less current liabilities
59,012
83,711
--------
--------
Net assets
59,012
83,711
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
58,912
83,611
--------
--------
Shareholders funds
59,012
83,711
--------
--------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2022 in accordance with Section 444(2A) of the Companies Act 2006.
E D C Solutions Limited
Abridged Statement of Financial Position (continued)
31 March 2022
These abridged financial statements were approved by the board of directors and authorised for issue on 11 July 2022 , and are signed on behalf of the board by:
Mrs C. Margromallis
Director
Company registration number: 05454809
E D C Solutions Limited
Notes to the Abridged Financial Statements
Year ended 31 March 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chesterfield Buildings, Westbourne Place, Clifton, Bristol, BS8 1RU.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exception: -Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures & Fittings
-
15% reducing balance
Equipment
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tangible assets
£
Cost
At 1 April 2021
35,403
Additions
4,375
Disposals
( 952)
--------
At 31 March 2022
38,826
--------
Depreciation
At 1 April 2021
10,888
Charge for the year
4,769
Disposals
( 649)
--------
At 31 March 2022
15,008
--------
Carrying amount
At 31 March 2022
23,818
--------
At 31 March 2021
24,515
--------
6. Investments
2022
2021
£
£
Other investments
7,689
7,689
-------
-------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mrs C. Margromallis
( 10,124)
( 35,813)
31,596
( 14,341)
Mr N. Magromallis
( 10,125)
( 35,813)
31,596
( 14,342)
--------
--------
--------
--------
( 20,249)
( 71,626)
63,192
( 28,683)
--------
--------
--------
--------
2021
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mrs C. Margromallis
( 4,220)
( 27,202)
21,298
( 10,124)
Mr N. Magromallis
( 4,220)
( 27,202)
21,297
( 10,125)
-------
--------
--------
--------
( 8,440)
( 54,404)
42,595
( 20,249)
-------
--------
--------
--------