Registered number
07522682
E & D SOLUTIONS LTD
Filleted Accounts
28 February 2023
E & D SOLUTIONS LTD
Registered number: 07522682
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 128,520 67,885
Current assets
Debtors 4 26,126 23,319
Cash at bank and in hand 6,871 30,382
32,997 53,701
Creditors: amounts falling due within one year 5 (103,158) (118,607)
Net current liabilities (70,161) (64,906)
Total assets less current liabilities 58,359 2,979
Creditors: amounts falling due after more than one year 6 (52,078) (56,550)
Net assets/(liabilities) 6,281 (53,571)
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,181 (53,671)
Shareholders' funds 6,281 (53,571)
The directors are 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 directors acknowledge their 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.
Mrs Emma Gosling
Director
Approved by the board on 9 November 2023
E & D SOLUTIONS 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 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:
Equipment over 5 years
Motor vehicles over 5 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 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Equip Motor vehicles Total
£ £ £
Cost
At 1 March 2022 298,760 60,570 359,330
Additions 131,312 39,959 171,271
Disposals (82,138) (25,414) (107,552)
At 28 February 2023 347,934 75,115 423,049
Depreciation
At 1 March 2022 230,876 60,569 291,445
Charge for the year 23,411 15,023 38,434
On disposals (11,437) (23,913) (35,350)
At 28 February 2023 242,850 51,679 294,529
Net book value
At 28 February 2023 105,084 23,436 128,520
At 28 February 2022 67,884 1 67,885
4 Debtors 2023 2022
£ £
Trade debtors 24,850 19,244
Other debtors 1,276 4,075
26,126 23,319
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loan 7,454 7,454
HP agreement 2,711 -
Trade creditors 892 499
Directors' loan accounts 88,361 104,613
Taxation and social security costs 2,900 5,222
Other creditors 840 819
103,158 118,607
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loan 16,822 23,550
HP agreement 2,256 -
Other loan 33,000 33,000
52,078 56,550
7 Other information
E & D SOLUTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Lydmore House
St Ann's Fort
Kings Lynn
Norfolk
PE30 2EU
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