Registered number
08589862
Edge Asset Management (London) Limited
Filleted Accounts
30 June 2023
Edge Asset Management (London) Limited
Registered number: 08589862
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 234,102 233,140
Cash at bank and in hand 1,428,902 748,448
1,663,004 981,588
Creditors: amounts falling due within one year 4 (242,591) (101,982)
Net current assets 1,420,413 879,606
Net assets 1,420,413 879,606
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,420,313 879,506
Shareholders' funds 1,420,413 879,606
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.
A M Avery
Director
Approved by the board on 29 November 2023
Edge Asset Management (London) Limited
Notes to the Accounts
for the year ended 30 June 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.
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.
Financial instruments at fair value through profit and loss
For a financial liability designated as at fair value through the profit and loss, the amount of change, during the period and cumulatively, in the fair value of the financial instrument that is attributable to changes in the credit risk of that instrument, using an alternative method the entity believes more faithfully represents the amount of change in its fair value that is attributable to changes in the credit risk of the instrument. The method used to establish the amount of change attributable to changes in own credit risk cannot be measured reliably. The risks the company is exposed to include, but not limited to credit risk, liquidity risk and market risk. These risks are managed by the management of the company and third parties when required.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Other debtors 234,102 233,140
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 216
Taxation and social security costs 236,966 97,390
Other creditors 5,625 4,376
242,591 101,982
5 Loans to directors
Description and conditions B/fwd Advanced Repaid C/fwd
£ £ £ £
A M Avery
Directors loan account 185,287 368,842 (368,270) 185,859
185,287 368,842 (368,270) 185,859
Included in other debtors is the above loan to the directors, which incurrs interest on each month end balance at 3%.
6 Other information
Edge Asset Management (London) Limited is a private company limited by shares and incorporated in England. Its registered office is:
109 Gloucester Place
London
W1U 6JW
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