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Registration number: 05788098

Edington and Poulter Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 May 2023 to 30 November 2023

 

Edington and Poulter Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Edington and Poulter Ltd

Company Information

Directors

Mr Christopher Edington

Mr Mark Poulter

Company secretary

Mr Christopher Edington

Registered office

3 Hogback Wood Road
Beaconsfield
Bucks
HP9 1JR

Accountants

AIMS Accountants for Business
36 Wattleton Road
Beaconsfield
Bucks
HP9 1SE

 

Edington and Poulter Ltd

(Registration number: 05788098)
Balance Sheet as at 30 November 2023

Note

2023
£

2023
£

Fixed assets

 

Tangible assets

5

-

9,404

Current assets

 

Debtors

6

27,504

18,433

Cash at bank and in hand

 

1,135

234,824

 

28,639

253,257

Creditors: Amounts falling due within one year

7

(23,235)

(165,187)

Net current assets

 

5,404

88,070

Net assets

 

5,404

97,474

Capital and reserves

 

Called up share capital

8

102

102

Retained earnings

5,302

97,372

Shareholders' funds

 

5,404

97,474

For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 January 2024 and signed on its behalf by:
 

.........................................
Mr Christopher Edington
Company secretary and director

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kongdom.

The address of its registered office is:
3 Hogback Wood Road
Beaconsfield
Bucks
HP9 1JR

These financial statements were authorised for issue by the Board on 17 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

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 taxable income.

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

12% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 6 (2023 - 6).

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

120,400

120,400

At 30 November 2023

120,400

120,400

Amortisation

At 1 May 2023

120,400

120,400

At 30 November 2023

120,400

120,400

Carrying amount

At 30 November 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

3,798

74,112

77,910

Disposals

(3,798)

(74,112)

(77,910)

At 30 November 2023

-

-

-

Depreciation

At 1 May 2023

2,736

65,770

68,506

Charge for the period

1,062

2,085

3,147

Eliminated on disposal

(3,798)

(67,855)

(71,653)

At 30 November 2023

-

-

-

Carrying amount

At 30 November 2023

-

-

-

At 30 April 2023

1,062

8,342

9,404

6

Debtors

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

Current

2023
£

2023
£

Trade debtors

-

9,450

Prepayments

-

3,476

Other debtors

27,504

5,507

 

27,504

18,433

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2023
£

Due within one year

Trade creditors

177

41,629

Taxation and social security

-

54,388

Other creditors

23,058

69,170

23,235

165,187

8

Share capital

Allotted, called up and fully paid shares

 

2023

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

 

102

102

102

102

9

Dividends

Final dividends paid

   

2023
£

 

2023
£

Final dividend of Nil per each

 

-

 

-

         

Interim dividends paid

   

2023
£

 

2023
£

Interim dividend of £Nil (2023 - £1,174.00) per each Ordinary

 

-

 

117,400

Interim dividend of £Nil (2023 - £2,000.00) per each Ordinary A

 

-

 

2,000

Interim dividend of £Nil (2023 - £2,000.00) per each Ordinary B

 

-

 

2,000

   

-

 

121,400

10

Related party transactions

 

Edington and Poulter Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 November 2023

Directors' remuneration

The directors' remuneration for the period was as follows:

2023
£

2023
£

Remuneration

16,501

32,192