REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 APRIL 2022 TO 28 APRIL 2023 |
FOR |
EDWARDS & EDWARDS (PROPERTIES) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 APRIL 2022 TO 28 APRIL 2023 |
FOR |
EDWARDS & EDWARDS (PROPERTIES) LTD |
EDWARDS & EDWARDS (PROPERTIES) LTD (REGISTERED NUMBER: 10147533) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 30 April 2022 to 28 April 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
EDWARDS & EDWARDS (PROPERTIES) LTD |
COMPANY INFORMATION |
for the Period 30 April 2022 to 28 April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
EDWARDS & EDWARDS (PROPERTIES) LTD (REGISTERED NUMBER: 10147533) |
STATEMENT OF FINANCIAL POSITION |
28 April 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
EDWARDS & EDWARDS (PROPERTIES) LTD (REGISTERED NUMBER: 10147533) |
STATEMENT OF FINANCIAL POSITION - continued |
28 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
EDWARDS & EDWARDS (PROPERTIES) LTD (REGISTERED NUMBER: 10147533) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 30 April 2022 to 28 April 2023 |
1. | STATUTORY INFORMATION |
Edwards & Edwards (Properties) Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company has reported losses and has net current liabilities. It remains reliant upon the support of the directors and shareholders who are hoping to return the company to profitability in the coming period. On the basis of current trading and projections the directors believe the company is a going concern. |
Tangible fixed assets |
Tangible fixed assets are recorded at cost less depreciation and any impairment. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
Plant and machinery etc. | - | 25% on reducing balance and 20% on reducing balance |
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. |
Financial instruments |
Other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Short term financial liabilities are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due, those payable after one year should be measured at amortised cost, using the effective interest rate method. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
EDWARDS & EDWARDS (PROPERTIES) LTD (REGISTERED NUMBER: 10147533) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 30 April 2022 to 28 April 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Short term employee benefits |
Short-term employee benefits are recognised as an expense in the period in which they are incurred. |
Impairment of assets |
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss. |
Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 30 April 2022 |
and 28 April 2023 |
DEPRECIATION |
At 30 April 2022 |
Charge for period |
At 28 April 2023 |
NET BOOK VALUE |
At 28 April 2023 |
At 29 April 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
EDWARDS & EDWARDS (PROPERTIES) LTD (REGISTERED NUMBER: 10147533) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 30 April 2022 to 28 April 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Other creditors |
Directors' current accounts | 359,910 | 440,920 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other loans more than 1 year |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Other loans |
Other loans are secured against certain property. |
9. | RELATED PARTY DISCLOSURES |
Included in other loans is a balance of £181,411 (2022: £181,411) which is owed to a company with a common director. |