Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28true2023-01-01falseNo description of principal activity33trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01015687 2023-01-01 2023-02-28 01015687 2022-01-01 2022-12-31 01015687 2023-02-28 01015687 2022-12-31 01015687 c:Director2 2023-01-01 2023-02-28 01015687 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-02-28 01015687 d:Buildings d:ShortLeaseholdAssets 2023-02-28 01015687 d:Buildings d:ShortLeaseholdAssets 2022-12-31 01015687 d:LandBuildings 2023-02-28 01015687 d:LandBuildings 2022-12-31 01015687 d:FurnitureFittings 2023-01-01 2023-02-28 01015687 d:FurnitureFittings 2023-02-28 01015687 d:FurnitureFittings 2022-12-31 01015687 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-02-28 01015687 d:OfficeEquipment 2023-01-01 2023-02-28 01015687 d:OfficeEquipment 2023-02-28 01015687 d:OfficeEquipment 2022-12-31 01015687 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-02-28 01015687 d:ComputerEquipment 2023-01-01 2023-02-28 01015687 d:ComputerEquipment 2023-02-28 01015687 d:ComputerEquipment 2022-12-31 01015687 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-02-28 01015687 d:OwnedOrFreeholdAssets 2023-01-01 2023-02-28 01015687 d:ComputerSoftware 2023-01-01 2023-02-28 01015687 d:ComputerSoftware 2023-02-28 01015687 d:ComputerSoftware 2022-12-31 01015687 d:CurrentFinancialInstruments 2023-02-28 01015687 d:CurrentFinancialInstruments 2022-12-31 01015687 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01015687 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01015687 d:ShareCapital 2023-02-28 01015687 d:ShareCapital 2022-12-31 01015687 d:CapitalRedemptionReserve 2023-02-28 01015687 d:CapitalRedemptionReserve 2022-12-31 01015687 d:RetainedEarningsAccumulatedLosses 2023-02-28 01015687 d:RetainedEarningsAccumulatedLosses 2022-12-31 01015687 c:FRS102 2023-01-01 2023-02-28 01015687 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-02-28 01015687 c:FullAccounts 2023-01-01 2023-02-28 01015687 c:PrivateLimitedCompanyLtd 2023-01-01 2023-02-28 01015687 2 2023-01-01 2023-02-28 iso4217:GBP xbrli:pure

Registered number: 01015687










CHARLES EDE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 FEBRUARY 2023

 
CHARLES EDE LIMITED
REGISTERED NUMBER: 01015687

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

28 February
31 December
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
-
167,402

  
-
167,402

Current assets
  

Stocks
 6 
-
2,478,753

Debtors: amounts falling due within one year
 7 
4,527,513
296,415

Cash at bank and in hand
  
-
1,844,865

  
4,527,513
4,620,033

Creditors: amounts falling due within one year
 8 
-
(206,833)

Net current assets
  
 
 
4,527,513
 
 
4,413,200

Total assets less current liabilities
  
4,527,513
4,580,602

  

Net assets
  
4,527,513
4,580,602


Capital and reserves
  

Called up share capital 
  
18,848
18,848

Capital redemption reserve
  
18,744
18,744

Profit and loss account
  
4,489,921
4,543,010

  
4,527,513
4,580,602


Page 1

 
CHARLES EDE LIMITED
REGISTERED NUMBER: 01015687
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




................................................
C R Tyndall
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 01015687), is a privately owned company limited by shares. The registered office address is 1 Three Kings Yard, London, W1K 4JP. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are prepared in GBP rounded to the nearest £.
 

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:.


Leasehold property improvements
-
19%
 years straight line basis
Fixtures and fittings
-
25%
Reducing Balance
Office equipment
-
15%
Reducing Balance
Computer equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 4

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.12

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.13

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Page 6

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2022 - 3).

Page 7

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

4.


Intangible assets






Computer software

£





At 1 January 2023
8,000


Intra-group transfers
(8,000)



At 28 February 2023

-





At 1 January 2023
8,000


Amortisation transfer from group
(8,000)



At 28 February 2023

-



Net book value



At 28 February 2023
-



At 31 December 2022
-



Page 8

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets







Short-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£





At 1 January 2023
310,023
54,308
60,471
18,169
442,971


Additions
-
-
-
823
823


Transfers intra group
(310,023)
(54,308)
(60,471)
(18,992)
(443,794)



At 28 February 2023

-
-
-
-
-





At 1 January 2023
146,515
52,630
58,570
17,854
275,569


Charge for the period on owned assets
1,360
139
265
41
1,805


Transfers intra group
(147,875)
(52,769)
(58,835)
(17,895)
(277,374)



At 28 February 2023

-
-
-
-
-



Net book value



At 28 February 2023
-
-
-
-
-



At 31 December 2022
163,508
1,678
1,901
315
167,402




The net book value of land and buildings may be further analysed as follows:


28 February
31 December
2023
2022
£
£

Short leasehold
-
163,508

-
163,508


Page 9

 
CHARLES EDE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2023

6.


Stocks

28 February
31 December
2023
2022
£
£

Finished goods and goods for resale
-
2,478,753

-
2,478,753



7.


Debtors

28 February
31 December
2023
2022
£
£


Trade debtors
-
265,683

Amounts owed by group undertakings
4,527,513
-

Other debtors
-
3,207

Prepayments and accrued income
-
19,594

Deferred taxation
-
7,931

4,527,513
296,415



8.


Creditors: Amounts falling due within one year

28 February
31 December
2023
2022
£
£

Trade creditors
-
83,928

Other taxation and social security
-
21,312

Other creditors
-
13,250

Accruals and deferred income
-
88,343

-
206,833



9.


Controlling party

The ultimate controlling party is M J Tyndall. The parent company is Aglaia Antiquities Ltd, a company registered in England and Wales.

 
Page 10