Registered number
12459626
Edwards Cladding Ltd
Filleted Accounts
28 February 2023
Edwards Cladding Ltd
Registered number: 12459626
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 16,149 17,532
Current assets
Debtors 4 25,583 21,384
Cash at bank and in hand 151,753 101,819
177,336 123,203
Creditors: amounts falling due within one year 5 (73,017) (87,785)
Net current assets 104,319 35,418
Net assets 120,468 52,950
Capital and reserves
Called up share capital 100 100
Profit and loss account 120,368 52,850
Shareholder's funds 120,468 52,950
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 member has 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.
Benjamin Edwards
Director
Approved by the board on 9 October 2023
Edwards Cladding Ltd
Notes to the Accounts
for the year ended 28 February 2023
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. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is not provided in the year of acquisition.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 March 2022 21,915
Additions 3,750
At 28 February 2023 25,665
Depreciation
At 1 March 2022 4,383
Charge for the year 5,133
At 28 February 2023 9,516
Net book value
At 28 February 2023 16,149
At 28 February 2022 17,532
4 Debtors 2023 2022
£ £
Other debtors 25,583 21,384
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 11,000 13,877
Trade creditors 4,548 162
Taxation and social security costs 12,140 17,822
Other creditors 45,329 55,924
73,017 87,785
6 Other information
Edwards Cladding Ltd is a private company limited by shares and incorporated in England. Its registered office is:
19 Mandir Close
Oswestry
Shropshire
SY11 2GB
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