BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the management and letting of properties. 31 July 2024 0 0 02691363 2024-03-31 02691363 2023-03-31 02691363 2022-03-31 02691363 2023-04-01 2024-03-31 02691363 2022-04-01 2023-03-31 02691363 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02691363 uk-curr:PoundSterling 2023-04-01 2024-03-31 02691363 uk-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02691363 uk-bus:FullAccounts 2023-04-01 2024-03-31 02691363 uk-core:ShareCapital 2024-03-31 02691363 uk-core:ShareCapital 2023-03-31 02691363 uk-core:OtherReservesSubtotal 2024-03-31 02691363 uk-core:OtherReservesSubtotal 2023-03-31 02691363 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 02691363 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 02691363 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 02691363 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 02691363 uk-bus:FRS102 2023-04-01 2024-03-31 02691363 uk-core:PlantMachinery 2023-04-01 2024-03-31 02691363 uk-core:CurrentFinancialInstruments 2024-03-31 02691363 uk-core:CurrentFinancialInstruments 2023-03-31 02691363 uk-core:WithinOneYear 2024-03-31 02691363 uk-core:WithinOneYear 2023-03-31 02691363 uk-core:OtherMiscellaneousReserve 2023-03-31 02691363 uk-core:OtherMiscellaneousReserve 2023-04-01 2024-03-31 02691363 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 02691363 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-03-31 02691363 uk-core:OtherDeferredTax 2024-03-31 02691363 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-03-31 02691363 uk-core:OtherMiscellaneousReserve 2024-03-31 02691363 2023-04-01 2024-03-31 02691363 uk-bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 02691363 uk-bus:Director1 2023-04-01 2024-03-31 02691363 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
Company Registration Number: 02691363
 
 
Edwards (KL) Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 March 2024



Edwards (KL) Ltd
Company Registration Number: 02691363
BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 1,072,656 1,018,125
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Current Assets
Debtors 6 1,837 -
Cash at bank and in hand 33,837 14,025
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35,674 14,025
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Creditors: amounts falling due within one year 7 (44,140) (40,553)
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Net Current Liabilities (8,466) (26,528)
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Total Assets less Current Liabilities 1,064,190 991,597
 
Provisions for liabilities 9 (124,602) (84,915)
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Net Assets 939,588 906,682
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Capital and Reserves
Called up share capital 10,002 10,002
Other reserves 635,602 623,037
Retained earnings 293,984 273,643
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Shareholders' Funds 939,588 906,682
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 31 July 2024 and signed on its behalf by
           
           
           
________________________________          
Mr. R Edwards          
Director          
           



Edwards (KL) Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Edwards (KL) Ltd is a company limited by shares incorporated in the United Kingdom. 36-38 King Street, King's Lynn, Norfolk, PE301ES, England is the registered office. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of rents receivable by the company.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 15% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by the directors. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value 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.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 4, (2023 - 4).
       
4. Dividends 2024 2023
  £ £
Dividends on equity shares:
 
Ordinary Shares - Interim paid 2,000 4,000
  ═════════ ═════════
         
5. Tangible assets
  Investment Plant and Total
  properties machinery  
       
  £ £ £
Cost or Valuation
At 1 April 2023 1,015,000 11,774 1,026,774
Additions 2,681 - 2,681
Revaluation 52,319 - 52,319
  ───────── ───────── ─────────
At 31 March 2024 1,070,000 11,774 1,081,774
  ───────── ───────── ─────────
Depreciation
At 1 April 2023 - 8,649 8,649
Charge for the financial year - 469 469
  ───────── ───────── ─────────
At 31 March 2024 - 9,118 9,118
  ───────── ───────── ─────────
Net book value
At 31 March 2024 1,070,000 2,656 1,072,656
  ═════════ ═════════ ═════════
At 31 March 2023 1,015,000 3,125 1,018,125
  ═════════ ═════════ ═════════
 
In accordance with FRS 102 the fair value gain/(loss) on revaluation for the year is reflected in the profit and loss account. The fair value adjustment is shown as other gains and losses and the deferred tax adjustment is included within tax on profit on ordinary activities. The properties have been revalued by the directors.
       
6. Debtors 2024 2023
  £ £
 
Directors' current accounts (Note 11) 1,487 -
Prepayments and accrued income 350 -
  ───────── ─────────
  1,837 -
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Taxation  (Note 8) 7,665 2,263
Directors' current accounts 34,326 36,149
Other creditors 29 -
Accruals 2,120 2,141
  ───────── ─────────
  44,140 40,553
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Creditors:
Corporation tax 5,365 2,263
PAYE / NI 2,300 -
  ───────── ─────────
  7,665 2,263
  ═════════ ═════════
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Property Total Total
  allowances revaluations    
         
      2024 2023
  £ £ £ £
 
At financial year start 448 84,467 84,915 66,719
Charged to profit and loss (67) 39,754 39,687 18,196
  ───────── ───────── ───────── ─────────
At financial year end 381 124,221 124,602 84,915
  ═════════ ═════════ ═════════ ═════════
           
10. Related party transactions
 
During the year dividends totalling £2,000 were paid to the directors.
   
11. Directors' advances, credits and guarantees
 
The director's loan account was repaid on 25 July 2024.