Company Registration No. 08853423 (England and Wales)
EDGIOAKE CONSTRUCTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
PAGES FOR FILING WITH REGISTRAR
EDGIOAKE CONSTRUCTION LIMITED
COMPANY INFORMATION
Directors
Mr N J Tatlow
Mrs M A E Tatlow
Company number
08853423
Registered office
Manor Farm
Edgioake Lane
Astwood Bank
Redditch
Worcestershire
B96 6LL
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Handelsbanken
Birmingham Temple Row Branch
Third Floor
67 Temple Row
Birmingham
B2 5LS
EDGIOAKE CONSTRUCTION LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
EDGIOAKE CONSTRUCTION LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDGIOAKE CONSTRUCTION LIMITED FOR THE YEAR ENDED 31 JANUARY 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Edgioake Construction Limited for the year ended 31 January 2023 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Edgioake Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Edgioake Construction Limited and state those matters that we have agreed to state to the Board of Directors of Edgioake Construction Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Edgioake Construction Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Edgioake Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Edgioake Construction Limited. You consider that Edgioake Construction Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Edgioake Construction Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
22 August 2023
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
EDGIOAKE CONSTRUCTION LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2023
31 January 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
168,412
211,665
Current assets
Stocks
3,672
48,362
Debtors
4
217,093
297,903
Cash at bank and in hand
402
692
221,167
346,957
Creditors: amounts falling due within one year
5
(239,357)
(374,880)
Net current liabilities
(18,190)
(27,923)
Total assets less current liabilities
150,222
183,742
Creditors: amounts falling due after more than one year
6
-
0
(22,054)
Provisions for liabilities
8
(31,695)
(35,507)
Net assets
118,527
126,181
Capital and reserves
Called up share capital
9
102
102
Profit and loss reserves
118,425
126,079
Total equity
118,527
126,181

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

EDGIOAKE CONSTRUCTION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2023
31 January 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 22 August 2023 and are signed on its behalf by:
Mr N J Tatlow
Director
Company Registration No. 08853423
EDGIOAKE CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
- 4 -
1
Accounting policies
Company information

Edgioake Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is Manor Farm, Edgioake Lane, Astwood Bank, Redditch, Worcestershire, B96 6LL.

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 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 services provided in the normal course of business, and is shown net of VAT.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion and where the amount of revenue can be measured reliably.

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.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
20% on reducing balance
Office equipment
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
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.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

EDGIOAKE CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
1
Accounting policies
(Continued)
- 5 -
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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.7
Government grants

Government grants are recognised at the fair value of the asset received 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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2022 - 2).

EDGIOAKE CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 6 -
3
Tangible fixed assets
Plant and machinery
Office equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 February 2022 and 31 January 2023
365,472
5,299
111,192
481,963
Depreciation and impairment
At 1 February 2022
172,217
5,299
92,782
270,298
Depreciation charged in the year
38,651
-
0
4,602
43,253
At 31 January 2023
210,868
5,299
97,384
313,551
Carrying amount
At 31 January 2023
154,604
-
0
13,808
168,412
At 31 January 2022
193,255
-
0
18,410
211,665
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
213,676
289,865
Other debtors
3,417
8,038
217,093
297,903
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,241
117,218
Amounts owed to group undertakings
211,055
223,611
Taxation and social security
7,422
2,538
Other creditors
16,639
31,513
239,357
374,880
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
-
0
22,054
EDGIOAKE CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2023
- 7 -
7
Secured debts
The following secured debts are included within creditors:
2023
2022
£
£
Hire purchase contracts
22,054
51,445
Hire purchase contracts are secured against the assets to which they relate.
8
Provisions for liabilities
2023
2022
£
£
Deferred tax liabilities
31,695
35,507
9
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary A of £1 each
100
100
1 Ordinary B of £1 each
1
1
1 Ordinary C of £1 each
1
1
102
102
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11
Control

Ultimate parent company

The ultimate parent company is Tatlow Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr N J Tatlow and Mrs M A E Tatlow, by virtue of their controlling interest in the ultimate parent company.

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