REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
EDMUNDS RICHMOND LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
EDMUNDS RICHMOND LIMITED |
EDMUNDS RICHMOND LIMITED (REGISTERED NUMBER: 01885343) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
EDMUNDS RICHMOND LIMITED |
COMPANY INFORMATION |
for the year ended 31 August 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
EDMUNDS RICHMOND LIMITED (REGISTERED NUMBER: 01885343) |
BALANCE SHEET |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
EDMUNDS RICHMOND LIMITED (REGISTERED NUMBER: 01885343) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 August 2023 |
1. | STATUTORY INFORMATION |
Edmunds Richmond Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Property plant and equipment |
Property, plant and equipment are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration initially recorded at cost. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery | - 1 year |
Fixtures and fittings | - 10 years |
Motor vehicles | - 5 years |
Computer equipment | - 1 year |
The carrying values of property plant and equipment are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
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. |
EDMUNDS RICHMOND LIMITED (REGISTERED NUMBER: 01885343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
Development costs |
Expenditure on the development of new projects is written off in the year in which it is incurred. |
Financial instruments |
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments. |
Basic financial assets |
Other debtors and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses. |
A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Basic financial liabilities |
Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Trade creditors and other creditors are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled. |
Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges. |
Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired. |
Equity instruments |
The share capital of the company is classified as equity and recorded at fair value of the cash or other resources received or receivable, net of direct costs of issuing the equity instruments. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. |
EDMUNDS RICHMOND LIMITED (REGISTERED NUMBER: 01885343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
At 1 September 2022 |
and 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Director's loan account | 2,707 | 406 |
Accruals |
Amounts owed to the director is unsecured, interest free, has no fixed date of repayment and is repayable on demand. |
EDMUNDS RICHMOND LIMITED (REGISTERED NUMBER: 01885343) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 August 2023 |
8. | CALLED UP SHARE CAPITAL |
Alloted, issued and fully paid: |
Number | Class | Nominal | 2023 | 2022 |
Value | £ | £ |
50,990 | Ordinary | £1 | 50,990 | 50,990 |
7 | 'A' Ordinary | £1 | 7 | 7 |
1 | 'B' Ordinary | £1 | 1 | 1 |
1 | 'C' Ordinary | £1 | 1 | 1 |
1 | 'D' Ordinary | £1 | 1 | 1 |
51,000 | 51000 |
The board can decide to award differing dividends to the share classes. The various types of shares in the company rank equally for voting rights. |
9. | RELATED PARTY DISCLOSURES |
H R Edmunds |
Included in creditors is a directors loan account due to H R Edmunds. The loan is unsecured and there are no fixed terms relating to interest or date of payment. |
At 31 August 2023 the company owed £2,707 (2022: £406) to H R Edmunds in relation to the loan. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is H R Edmunds, who is the sole director. |