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REGISTERED NUMBER: 02482925 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

EDWARD SOWDEN LIMITED

EDWARD SOWDEN LIMITED (REGISTERED NUMBER: 02482925)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


EDWARD SOWDEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: B.R. Aston
Mrs H J Aston





SECRETARY: Mr. B.R. Aston





REGISTERED OFFICE: 134 Furbarn Lane
Rochdale
Lancashire
OL11 5RA





REGISTERED NUMBER: 02482925 (England and Wales)





ACCOUNTANTS: Wyatt Morris Golland Ltd
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

EDWARD SOWDEN LIMITED (REGISTERED NUMBER: 02482925)

ABRIDGED BALANCE SHEET
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,473 1,578,875
Investments 5 907,558 876,781
Investment property 6 8,855,000 -
9,765,031 2,455,656

CURRENT ASSETS
Debtors 1,300,303 1,235,238
Cash at bank 403,900 220,381
1,704,203 1,455,619
CREDITORS
Amounts falling due within one year 467,239 403,019
NET CURRENT ASSETS 1,236,964 1,052,600
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,001,995

3,508,256

CREDITORS
Amounts falling due after more than one year (726,781 ) (726,781 )

PROVISIONS FOR LIABILITIES (1,119,078 ) (439 )
NET ASSETS 9,156,136 2,781,036

CAPITAL AND RESERVES
Called up share capital 1,260 1,260
Other reserves 779,612 779,612
Retained earnings 8,375,264 2,000,164
SHAREHOLDERS' FUNDS 9,156,136 2,781,036

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

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.

EDWARD SOWDEN LIMITED (REGISTERED NUMBER: 02482925)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 January 2024 and were signed on its behalf by:





B.R. Aston - Director


EDWARD SOWDEN LIMITED (REGISTERED NUMBER: 02482925)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Edward Sowden Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents property rentals due and net invoiced sales of goods and services, excluding V.A.T.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance
Computer equipment - 25% on cost

All land and buildings owned by the company was previously shown as fixed assets irrespective of their investment potential. As such, the provisions relating to investment properties as set out in the Financial Reporting Standard for Smaller Entities had not been applied. During the year the decision was made to show as Investment properties at fair value.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Group accounts
The company and its subsidiary company are a small group. The company has therefore taken advantage of the exemption provided by section 248 of the Companies Act 1985 not to prepare group accounts.

Fixed asset investments
Fixed asset investments other than property were stated at cost less provision for permanent diminution in value of those investments. Where the investment is quoted it is now included at the year end valuation

EDWARD SOWDEN LIMITED (REGISTERED NUMBER: 02482925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 2,524,823
Additions 1,136
Reclassification/transfer (2,450,893 )
At 31 May 2023 75,066
DEPRECIATION
At 1 June 2022 945,948
Charge for year 972
Reclassification/transfer (874,327 )
At 31 May 2023 72,593
NET BOOK VALUE
At 31 May 2023 2,473
At 31 May 2022 1,578,875

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 June 2022 780,242
Revaluations 30,777
Reclassification/transfer 150,000
At 31 May 2023 961,019
PROVISIONS
At 1 June 2022
and 31 May 2023 53,461
NET BOOK VALUE
At 31 May 2023 907,558
At 31 May 2022 726,781

Cost or valuation at 31 May 2023 is represented by:
Totals
£   
Valuation in 2023 30,777
Cost 930,242
961,019

If the fixed asset investment had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 930,242 780,242

EDWARD SOWDEN LIMITED (REGISTERED NUMBER: 02482925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. FIXED ASSET INVESTMENTS - continued

The Aviva investment was reclassified during the year as listed.

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Aviva General Investment
Account - 150,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Tiledeep Limited
Registered office: inside the UK
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00
2023 2022
£    £   
Aggregate capital and reserves 726,781 726,781

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 7,278,435
Reclassification/transfer 1,576,565
At 31 May 2023 8,855,000
NET BOOK VALUE
At 31 May 2023 8,855,000

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 6,404,107
Cost 2,450,893
8,855,000

If the property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,450,893 -
Aggregate depreciation (923,345 ) -

Investment property was valued on on a market value basis on 17 January 2023 by Longden Cook .

7. RELATED PARTY DISCLOSURES

Included in debtors is an investment of £1,260,000 in a partnership where the Edward Sowden Limited is a 50% partner.

In other creditors, £34,370 relates to the amount owed by Edward Sowden Limited in respect of the partnership trading to 31 March 2023.