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REGISTERED NUMBER: 00795675 (England and Wales)















Group Strategic Report,

Report of the Directors and

Consolidated Financial Statements

for the Year Ended 31 October 2023

for

EDE HOLDINGS LIMITED

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Contents of the Consolidated Financial Statements
for the year ended 31 October 2023










Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 8

Consolidated Other Comprehensive Income 9

Consolidated Statement of Financial Position 10

Company Statement of Financial Position 12

Consolidated Statement of Changes in Equity 14

Company Statement of Changes in Equity 15

Consolidated Statement of Cash Flows 16

Notes to the Consolidated Statement of Cash Flows 17

Notes to the Consolidated Financial Statements 18


EDE HOLDINGS LIMITED

Company Information
for the year ended 31 October 2023







Directors: J Ede
S D Ingledew
D R C Ede
Mrs S J C Ede





Registered office: Park House
Station Lane
Witney
Oxfordshire
OX28 4LH





Registered number: 00795675 (England and Wales)





Auditors: Cooper Parry Group Limited
Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Group Strategic Report
for the year ended 31 October 2023


The directors present their strategic report of the company and the group for the year ended 31 October 2023.

Review of business
During 2023, the company maintained its focus on development of existing residential sites and renewing the land bank.

Principal risks and uncertainties
The major risk to the group continued to be the potential effect on the housing market caused by uncertainty in the UK and global economies.

As previously, the directors continue to exercise caution in protecting cash resources and the strength and diversity of the group's income streams.

The company has risk management procedures in place to identify and effectively manage risk across the group. Exposure to credit and interest rate risks are in the normal course of the group's business

Development and performance
The results for the year are set out on page 8. The directors consider the state of affairs to be satisfactory.

Financial key performance indicators
The company operates in a low margin/high risk sector. Consequently, the most important financial performance indicators are turnover, gross margin and net margin. These, together with all the group's activities are closely monitored by the directors.

Financials This year Last year Variance

Turnover £19.2m £12.9m +49%

Profit after tax £5.1m £1.9m +168%

On behalf of the board:





D R C Ede - Director


26 July 2024

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Report of the Directors
for the year ended 31 October 2023


The directors present their report with the financial statements of the company and the group for the year ended 31 October 2023.

Principal activity
The group's principal activities continue to be property development, property management, building and contracting.

Dividends
No dividends will be distributed for the year ended 31 October 2023.

Future developments
Speculative housing development will continue to be the core business activity of the group. Political uncertainties remain a concern and generally higher activity in housebuilding has brought supply and demand closer together. Although the market has become and most likely will remain softer, this has not yet been reflected in the price of development land. There are therefore probable opportunities as well as challenges ahead.

Directors
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

J Ede
S D Ingledew
D R C Ede
Mrs S J C Ede

Directors' responsibilities statement
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement as to disclosure of information to auditors
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Report of the Directors
for the year ended 31 October 2023


Auditors
The auditors, Cooper Parry Group Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

On behalf of the board:





D R C Ede - Director


26 July 2024

Report of the Independent Auditors to the Members of
Ede Holdings Limited


Opinion
We have audited the financial statements of Ede Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Report of the Independent Auditors to the Members of
Ede Holdings Limited


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Ede Holdings Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory framework applicable to both the group itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our experience and through discussion with the management. The most significant were identified as the Companies Act 2006, UK GAAP (FRS102), GDPR and relevant tax legislation. We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included:

- making enquires of directors and management as to where they consider there to be a susceptibility to fraud and whether they have any knowledge or suspicion of fraud;
- obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- assessing the design effectiveness of the controls in place to prevent and detect fraud;
- assessing the risk of management override of internal controls, including identifying and testing journal entries;
- challenging the assumptions and judgements made by management in its significant accounting estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




George Style ACA (Senior Statutory Auditor)
for and on behalf of Cooper Parry Group Limited
Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

29 July 2024

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Consolidated
Income Statement
for the year ended 31 October 2023

2023 2022
Notes £ £

Turnover
Group and share of associates 20,925,525 15,816,136
Less:
Share of associates' turnover (1,680,032 ) (2,913,244 )
Group turnover 19,245,493 12,902,892

Cost of sales (16,877,515 ) (11,797,531 )
Gross profit 2,367,978 1,105,361

Administrative expenses (1,585,454 ) (1,276,161 )
782,524 (170,800 )

Other operating income 597,530 1,167,983
Group operating profit 4 1,380,054 997,183

Share of operating profit in
Associates 584,918 508,152

Profit on disposal of
tangible fixed assets 5 11,679 4,679
Profit/loss on sale of
investment property 5 287,862 -
2,264,513 1,510,014

Interest receivable and similar income 209,032 31,656
2,473,545 1,541,670
Gain/loss on revaluation of
investment property 3,304,679 842,272
5,778,224 2,383,942

Interest payable and similar expenses 6 (66,363 ) (207,746 )
Profit before taxation 5,711,861 2,176,196

Tax on profit 7 (535,202 ) (314,374 )
Profit for the financial year 5,176,659 1,861,822
Profit attributable to:
Owners of the parent 5,176,659 1,861,822

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Consolidated
Other Comprehensive Income
for the year ended 31 October 2023

2023 2022
Notes £ £

Profit for the year 5,176,659 1,861,822


Other comprehensive income
Movement in deferred tax provision
Income tax relating to other comprehensive
income

-

-
Other comprehensive income for the year,
net of income tax

-

-
Total comprehensive income for the year 5,176,659 1,861,822

Total comprehensive income attributable to:
Owners of the parent 5,176,659 1,861,822

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Consolidated Statement of Financial Position
31 October 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 9 1,246,047 142,936
Investments 10
Interest in associate 2,655,868 2,240,981
Investment property 11 23,222,555 20,052,606
27,124,470 22,436,523

Current assets
Stocks 12 3,115,633 2,396,826
Debtors 13 19,382,632 18,009,713
Cash at bank 4,056,627 4,873,873
26,554,892 25,280,412
Creditors
Amounts falling due within one year 14 3,801,766 2,770,486
Net current assets 22,753,126 22,509,926
Total assets less current liabilities 49,877,596 44,946,449

Creditors
Amounts falling due after more than one
year

15

(3,325,598

)

(3,325,598

)

Provisions for liabilities 16 (972,813 ) (136,155 )
Net assets 45,579,185 41,484,696

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Consolidated Statement of Financial Position - continued
31 October 2023

2023 2022
Notes £ £ £ £

Capital and reserves
Called up share capital 17 5,159,125 5,199,690
Share premium 18 120 120
Capital redemption reserve 18 269,037 228,472
Fair value reserve 18 6,636,050 4,355,541
Retained earnings 18 33,514,853 31,700,873
Shareholders' funds 45,579,185 41,484,696

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





D R C Ede - Director


EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Company Statement of Financial Position
31 October 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 9 1,109,388 1,142
Investments 10 895,216 895,216
Investment property 11 5,275,000 3,439,600
7,279,604 4,335,958

Current assets
Stocks 12 3,025,631 2,306,824
Debtors 13 25,365,004 20,231,750
Cash at bank 3,608,787 4,470,519
31,999,422 27,009,093
Creditors
Amounts falling due within one year 14 12,138,453 6,047,226
Net current assets 19,860,969 20,961,867
Total assets less current liabilities 27,140,573 25,297,825

Creditors
Amounts falling due after more than one
year

15

(3,325,598

)

(3,325,598

)

Provisions for liabilities 16 (508,881 ) (50,031 )
Net assets 23,306,094 21,922,196

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Company Statement of Financial Position - continued
31 October 2023

2023 2022
Notes £ £ £ £

Capital and reserves
Called up share capital 17 5,159,125 5,199,690
Share premium 18 120 120
Capital redemption reserve 18 269,037 228,472
Fair value reserve 18 3,388,491 2,011,941
Retained earnings 18 14,489,321 14,481,973
Shareholders' funds 23,306,094 21,922,196

Company's profit for the financial year 1,900,748 472,114

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:





D R C Ede - Director


EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Consolidated Statement of Changes in Equity
for the year ended 31 October 2023

Called up
share Retained Share
capital earnings premium
£ £ £
Balance at 1 November 2021 5,222,406 30,695,323 120
Reduction in share capital (22,716 ) - -
Total comprehensive income - 1,005,550 -
Balance at 31 October 2022 5,199,690 31,700,873 120
Reduction in share capital (40,565 ) - -
Total comprehensive income - 1,813,980 -
Balance at 31 October 2023 5,159,125 33,514,853 120
Capital
redemption Fair value Total
reserve reserve equity
£ £ £
Balance at 1 November 2021 228,472 3,558,168 39,704,489
Reduction in share capital - - (22,716 )
Total comprehensive income - 797,373 1,802,923
Balance at 31 October 2022 228,472 4,355,541 41,484,696
Reduction in share capital - - (40,565 )
Total comprehensive income 40,565 2,280,509 4,135,054
Balance at 31 October 2023 269,037 6,636,050 45,579,185

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Company Statement of Changes in Equity
for the year ended 31 October 2023

Called up
share Retained Share
capital earnings premium
£ £ £
Balance at 1 November 2021 5,222,406 14,443,859 120
Total comprehensive income - 38,114 -
Reduction in share capital (22,716 ) - -
Balance at 31 October 2022 5,199,690 14,481,973 120
Total comprehensive income - 7,348 -
Reduction in share capital (40,565 ) - -
Balance at 31 October 2023 5,159,125 14,489,321 120
Capital
redemption Fair value Total
reserve reserve equity
£ £ £
Balance at 1 November 2021 205,756 1,656,755 21,528,896
Total comprehensive income 22,716 355,186 416,016
Reduction in share capital - - (22,716 )
Balance at 31 October 2022 228,472 2,011,941 21,922,196
Total comprehensive income 40,565 1,376,550 1,424,463
Reduction in share capital - - (40,565 )
Balance at 31 October 2023 269,037 3,388,491 23,306,094

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Consolidated Statement of Cash Flows
for the year ended 31 October 2023

2023 2022
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (80,660 ) 1,825,237
Interest paid (33,264 ) (14,321 )
Finance costs paid (33,099 ) (193,425 )
Tax paid (213,312 ) (227,007 )
Net cash from operating activities (360,335 ) 1,390,484

Cash flows from investing activities
Purchase of tangible fixed assets (1,165,130 ) (67,776 )
Income from fixed asset investments 50,000 55,000
Sale of tangible fixed assets 10,538 15,000
Sale of investment property 400,000 -
Interest received 209,032 31,656
Net cash from investing activities (495,560 ) 33,880

Cash flows from financing activities
Amount introduced by directors 132,266 241,578
Amount withdrawn by directors (35,617 ) (136,841 )
Purchase of own shares (58,000 ) (29,000 )
Net cash from financing activities 38,649 75,737

(Decrease)/increase in cash and cash equivalents (817,246 ) 1,500,101
Cash and cash equivalents at beginning of
year

2

4,873,873

3,373,772

Cash and cash equivalents at end of year 2 4,056,627 4,873,873

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Statement of Cash Flows
for the year ended 31 October 2023


1. Reconciliation of profit before taxation to cash generated from operations
2023 2022
£ £
Profit before taxation 5,711,861 2,176,196
Depreciation charges 51,481 45,647
Profit on disposal of fixed assets (11,679 ) (4,679 )
Gain on revaluation of fixed assets (3,304,679 ) (842,272 )
Transfer of property from stock (265,270 ) (2,057,873 )
Share of equity method profits (584,918 ) (508,152 )
Profit on sale of investment property (287,862 ) -
Finance costs 66,363 207,746
Finance income (209,032 ) (31,656 )
1,166,265 (1,015,043 )
(Increase)/decrease in stocks (718,807 ) 4,999,282
Increase in trade and other debtors (1,412,765 ) (1,850,496 )
Increase/(decrease) in trade and other creditors 884,647 (308,506 )
Cash generated from operations (80,660 ) 1,825,237

2. Cash and cash equivalents

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 October 2023
31/10/23 1/11/22
£ £
Cash and cash equivalents 4,056,627 4,873,873
Year ended 31 October 2022
31/10/22 1/11/21
£ £
Cash and cash equivalents 4,873,873 3,373,772


3. Analysis of changes in net funds

At 1/11/22 Cash flow At 31/10/23
£ £ £
Net cash
Cash at bank and in hand 4,873,873 (817,246 ) 4,056,627
4,873,873 (817,246 ) 4,056,627
Total 4,873,873 (817,246 ) 4,056,627

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements
for the year ended 31 October 2023


1. Statutory information

Ede Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Basis of consolidation
The consolidated financial statements include the results of Ede Holdings Limited and its subsidiary undertakings drawn up to 31 October 2023. No profit and loss account for the company has been presented for Ede Holdings Limited, as permitted by Section 408 of the Companies Act 2006.

Associates
The results of associated undertakings are accounted for using the equity method. Those for Tenens Ede Limited and Abingdon Marina (Oxford) Limited are based on the financial statements for the year ended 30 September 2023.Those for The Edge Hotel (Oxford) LImited are based on the financial statements for the year ended 31 October 2023.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - at varying rates on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

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 Consolidated 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 statement of financial position date.


EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


2. Accounting policies - continued
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 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors
2023 2022
£ £
Wages and salaries 926,036 720,200
Social security costs 105,411 83,563
Other pension costs 34,941 30,263
1,066,388 834,026

The average number of employees during the year was as follows:
2023 2022

Office and management 19 15
Foremen and operatives 6 6
25 21

2023 2022
£ £
Directors' remuneration 340,988 266,423
Directors' pension contributions to money purchase schemes 7,162 7,764

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 4 4

Information regarding the highest paid director is as follows:
2023 2022
£ £
Emoluments etc 243,865 169,300
Pension contributions to money purchase schemes 4,248 3,879

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


4. Operating profit

The operating profit is stated after charging:

2023 2022
£ £
Depreciation - owned assets 51,481 45,647
Auditors' remuneration 17,000 17,000

5. Exceptional items
2023 2022
£ £
Profit on disposal of
tangible fixed assets 11,679 4,679
Profit/loss on sale of
investment property 287,862 -
299,541 4,679

6. Interest payable and similar expenses
2023 2022
£ £
Bank loan interest 33,252 14,321
Other interest payable 12 -
Dividend on preference shares 33,099 193,425
66,363 207,746

7. Taxation

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£ £
Current tax:
UK corporation tax 389,600 216,829
Prior year adjustment 15,083 11,293
Associates corporation tax 120,031 86,333
Total current tax 524,714 314,455

Deferred tax 10,488 (81 )
Tax on profit 535,202 314,374

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


7. Taxation - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£ £
Profit before tax 5,711,861 2,176,196
Profit multiplied by the standard rate of corporation tax in the UK of
22.518 % (2022 - 19 %)

1,286,197

413,477

Effects of:
Expenses not deductible for tax purposes 24,612 19,034
Depreciation in excess of capital allowances 12,538 4,148
Adjustments to tax charge in respect of previous periods 14,993 11,293
Dividends received (11,126 ) (10,450 )
Dividends paid 7,365 36,751
Movement in deferred tax (799,377 ) (159,879 )
Total tax charge 535,202 314,374

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 October 2023.

2022
Gross Tax Net
£ £ £
Movement in deferred tax provision

8. Individual income statement

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


9. Tangible fixed assets

Group
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 November 2022 - 182,326 259,262 143,598 585,186
Additions 1,108,531 - 699 55,900 1,165,130
Disposals - - - (38,802 ) (38,802 )
At 31 October 2023 1,108,531 182,326 259,961 160,696 1,711,514
Depreciation
At 1 November 2022 - 170,116 163,343 108,791 442,250
Charge for year - 2,933 28,505 20,043 51,481
Eliminated on disposal - - - (28,264 ) (28,264 )
At 31 October 2023 - 173,049 191,848 100,570 465,467
Net book value
At 31 October 2023 1,108,531 9,277 68,113 60,126 1,246,047
At 31 October 2022 - 12,210 95,919 34,807 142,936

Company
Fixtures
Freehold and
property fittings Totals
£ £ £
Cost
At 1 November 2022 - 16,531 16,531
Additions 1,108,531 - 1,108,531
At 31 October 2023 1,108,531 16,531 1,125,062
Depreciation
At 1 November 2022 - 15,389 15,389
Charge for year - 285 285
At 31 October 2023 - 15,674 15,674
Net book value
At 31 October 2023 1,108,531 857 1,109,388
At 31 October 2022 - 1,142 1,142

Included in cost of land and buildings is freehold land of £ 250,000 (2022 - £ 0 ) which is not depreciated.

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


10. Fixed asset investments

Group
Interest in
associate
£
Cost
At 1 November 2022 2,240,981
Share of profit/(loss) 414,887
At 31 October 2023 2,655,868
Net book value
At 31 October 2023 2,655,868
At 31 October 2022 2,240,981

Interest in associate

The group's aggregate share of associates at the year end is as follows:

2023 2022
£ £
Profit before tax 534,917 453,152
Taxation (120,030 ) (86,333 )
Profit after tax 414,887 366,819

Share of assets
Fixed assets 4,160,659 1,168,864
Current assets 13,681,606 8,495,988

Share of liabilities
Share of liabilities due within one year (15,581,482 ) (7,790,059 )
Share of liabilities due after one year or more - -


Share of net assets 2,260,783 1,874,793
Company
Shares in
group Interest in
undertakings associate Totals
£ £ £
Cost
At 1 November 2022
and 31 October 2023 894,714 502 895,216
Net book value
At 31 October 2023 894,714 502 895,216
At 31 October 2022 894,714 502 895,216

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


10. Fixed asset investments - continued

The group or the company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Subsidiaries

Builders Ede Limited
Registered office: United Kingdom
Nature of business: Building and contracting
%
Class of shares: holding
Ordinary 100.00
2023 2022
£ £
Aggregate capital and reserves 9,261,314 8,309,084
Profit for the year 952,230 193,595

Ede Developments (Oxford) Limited
Registered office: United Kingdom
Nature of business: Property investment and development
%
Class of shares: holding
Ordinary 100.00
2023 2022
£ £
Aggregate capital and reserves 3,438,228 2,649,372
Profit for the year 995,026 423,419

Oxford Parklands Limited
Registered office: United Kingdom
Nature of business: Property investment and development
%
Class of shares: holding
Ordinary 100.00
2023 2022
£ £
Aggregate capital and reserves 7,793,417 7,258,278
Profit for the year 894,289 405,874


EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


11. Investment property

Group
Total
£
Fair value
At 1 November 2022 20,052,606
Transfers from stock 265,270
Disposals (400,000 )
Revaluations 3,304,679
At 31 October 2023 23,222,555
Net book value
At 31 October 2023 23,222,555
At 31 October 2022 20,052,606

Investment properties consist of freehold properties valued by the directors at £21,247,555 (2022 - £18,077,606) and leasehold properties valued by the directors at £1,975,000 (2022 - £1,975,000.)

The original cost of the freehold properties was £14,015,881 (2022 - £13,952,611) and the original cost of the leasehold properties was £1,695,794 (2022 - £1,695,794.)

The directors are of the opinion that all investment properties are stated at their open market value at 31 October 2023.

Fair value at 31 October 2023 is represented by:
£
Valuation in 2006 2,769,774
Valuation in 2009 (9,141 )
Valuation in 2011 (82,340 )
Valuation in 2012 127,350
Valuation in 2013 134,832
Valuation in 2015 255,000
Valuation in 2020 (191,419 )
Valuation in 2021 270,145
Valuation in 2022 1,130,000
Valuation in 2023 3,106,679
Cost 15,711,675
23,222,555

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


11. Investment property - continued

Company
Total
£
Fair value
At 1 November 2022 3,439,600
Revaluations 1,835,400
At 31 October 2023 5,275,000
Net book value
At 31 October 2023 5,275,000
At 31 October 2022 3,439,600

Fair value at 31 October 2023 is represented by:
£
Valuation in 1991 1,837,408
Valuation in 1992 (769,300 )
Valuation in 1998 (36,000 )
Valuation in 2004 297,000
Valuation in 2006 200,000
Valuation in 2013 127,350
Valuation in 2020 255,000
Valuation in 2021 (820,400 )
Valuation in 2022 405,000
Valuation in 2023 1,835,400
Cost 1,943,542
5,275,000

12. Stocks

Group Company
2023 2022 2023 2022
£ £ £ £
Stock 771,150 317,646 681,148 227,644
Work-in-progress 2,344,483 2,079,180 2,344,483 2,079,180
3,115,633 2,396,826 3,025,631 2,306,824

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


13. Debtors: amounts falling due within one year

Group Company
2023 2022 2023 2022
£ £ £ £
Trade debtors 1,282,030 553,324 59,626 58,192
Amounts owed by group undertakings - - 7,841,388 7,715,479
Amounts owed by associates 12,568,435 7,036,366 12,568,435 7,036,366
Amounts recoverable on contract 207,044 4,550,014 - -
Other debtors 5,174,307 5,675,747 4,895,555 5,421,713
Directors' loan accounts 88,312 129,038 - -
Tax 19,480 18,600 - -
Section 455 tax recoverable 43,024 43,024 - -
Prepayments and accrued income - 3,600 - -
19,382,632 18,009,713 25,365,004 20,231,750

14. Creditors: amounts falling due within one year

Group Company
2023 2022 2023 2022
£ £ £ £
Trade creditors 959,362 699,407 326,403 33,094
Amounts owed to group undertakings - - 10,262,409 4,542,145
Amounts owed to associates 115,000 110,000 115,000 110,000
Corporation tax 409,080 216,829 25,715 54,450
Social security and other taxes 207,191 68,456 5,590 6,125
VAT - 2,011 - -
Other creditors 751,555 611,529 729,281 585,259
Directors' loan accounts 607,987 653,604 607,988 653,604
Accruals and deferred income 751,591 408,650 66,067 62,549
3,801,766 2,770,486 12,138,453 6,047,226

15. Creditors: amounts falling due after more than one year

Group Company
2023 2022 2023 2022
£ £ £ £
Other creditors 3,325,598 3,325,598 3,325,598 3,325,598

Other creditors consist of preference shares classed as a financial liability, as described in note 17.

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


16. Provisions for liabilities

Group Company
2023 2022 2023 2022
£ £ £ £
Deferred tax
Accelerated capital allowances 13,878 3,173 217 217
Deferred tax 958,935 132,982 508,664 49,814
972,813 136,155 508,881 50,031

Group
Deferred tax
£
Balance at 1 November 2022 136,155
Charge to Income Statement during year 836,658
Balance at 31 October 2023 972,813

Company
Deferred tax
£
Balance at 1 November 2022 50,031
Charge to Income Statement during year 458,850
Balance at 31 October 2023 508,881

17. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
1,042,170 Ordinary 1 1,082,176 1,042,170
3,675,246 A ordinary 1 3,635,240 3,675,246
504,990 B ordinary 1 441,709 482,274
5,159,125 5,199,690

EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


17. Called up share capital - continued

The holders of ordinary shares have full rights with respect to voting, full rights to receive dividends, full rights to participate in the distribution of capital on a winding up and ordinary shares are redeemable at the option of the holder.

The holders of A ordinary shares have full rights with respect to voting, full rights to receive dividends, full rights to participate in the distribution of capital on a winding up and A ordinary shares are redeemable at the option of the holder.

The holders of B ordinary shares have no rights with respect to voting, full rights to receive dividends, full rights to participate in the distribution of capital on a winding up and B ordinary shares are redeemable at the option of the holder.

The holders of A preference shares have no rights with respect to voting, the right to receive a preferential dividend of 5% increasing annually by RPI to a maximum 4%, full rights to participate in the distribution of capital on a winding up and are redeemable at the option of the holder.

The holders of 10% preference shares have no rights with respect to voting, the right to receive a fixed 10% dividend in preference to the holders of ordinary shares, full rights to participate in the distribution of capital on a winding up and are redeemable at the option of the holder.

During the year ended 31 October 2023, the company purchased 40,565 ordinary shares of £1 each from a member for £58,000 (2022 22,716 ordinary shares of £1 each for £29,000.)

18. Reserves

Group
Capital
Retained Share redemption Fair value
earnings premium reserve reserve Totals
£ £ £ £ £

At 1 November 2022 31,700,873 120 228,472 4,355,541 36,285,006
Profit for the year 5,176,659 - - - 5,176,659
Purchase of own shares (58,000 ) - 40,565 - (17,435 )
Transfer on revaluation (3,304,679 ) - - 2,280,509 (1,024,170 )
At 31 October 2023 33,514,853 120 269,037 6,636,050 40,420,060

Company
Capital
Retained Share redemption Fair value
earnings premium reserve reserve Totals
£ £ £ £ £

At 1 November 2022 14,481,973 120 228,472 2,011,941 16,722,506
Profit for the year 1,900,748 1,900,748
Purchase of own shares (58,000 ) - 40,565 - (17,435 )
Transfer on revaluation (1,835,400 ) - - 1,376,550 (458,850 )
At 31 October 2023 14,489,321 120 269,037 3,388,491 18,146,969


EDE HOLDINGS LIMITED (REGISTERED NUMBER: 00795675)

Notes to the Consolidated Financial Statements - continued
for the year ended 31 October 2023


19. Contingent liabilities

The group has entered into cross guarantees in connection with some of its bank loans and overdrafts. At 31 October 2023, the amount of these loans and overdrafts stood at £nil (2022 - £nil.)

Ede Holdings Limited and Builders Ede Limited are members of the same VAT group. At the year end the liability outstanding under this registration was £nil (2022 - £2,830.)

20. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

2023 2022
£ £
D R C Ede
Balance outstanding at start of year 129,038 102,811
Amounts advanced 46,707 46,435
Amounts repaid (87,433 ) (20,208 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 88,312 129,038

21. Related party disclosures

Entities with control, joint control or significant influence over the entity

J Ede runs a business trading as Oxon Planning Partnership.

During the year ended 31 October 2023, Builders Ede Limited recharged overheads to Oxon Planning Partnership amounting to £3,550 (2022 - £3,550.)

At 31 October 2023, Ede Holdings Limited had the following balances with companies in which D R C Ede has an interest:

Due from Tenens Ede Limited £11,298,422 (2022 - £5,901,366.)
Owed to Abingdon Marina (Oxford) Limited £115,000 (2022 - £110,000.)
Due from Ede Homes Limited £2,934,952 (2022 - £3,383,312.)
Due from The Edge Hotel (Oxford) Limited £1,270,013 (2022 - £1,135,000.)
Due from No.192 Oxford Limited £1,812,216 (2022 - £1,870,000.)
Due from No.192 Oxford (Management) Limited £Nil (2022 - £20,013.)

On the 10 August 2023, Ede Developments (Oxford) Limited purchased a residential flat from D Ede for £256,000.

22. Ultimate controlling party

The controlling party is D R C Ede.

The ultimate controlling party is D R C Ede.