Registered number
04111604
Edwards & Company (Glos) Limited
Filleted Accounts
31 December 2023
Edwards & Company (Glos) Limited
Company Information
Director
A M Edwards
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
The Clock House
Stafford Mill
Thrupp
Stroud
Glos
Registered number
04111604
Edwards & Company (Glos) Limited
Registered number: 04111604
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 6,930 9,875
Current assets
Stocks 13,940 14,612
Debtors 5 50,089 57,201
Cash at bank and in hand 57,701 55,689
121,730 127,502
Creditors: amounts falling due within one year 6 (38,628) (51,488)
Net current assets 83,102 76,014
Net assets 90,032 85,889
Capital and reserves
Called up share capital 100 100
Share premium 71,242 71,242
Profit and loss account 18,690 14,547
Shareholders' funds 90,032 85,889
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A M Edwards
Director
Approved by the board on 31 March 2024
Edwards & Company (Glos) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Disco equipment over four years
Machinery fixtures and computer equipment over four years
Motor vehicles over four years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 75,515
At 31 December 2023 75,515
Amortisation
At 1 January 2023 75,515
At 31 December 2023 75,515
Net book value
At 31 December 2023 -
4 Tangible fixed assets
Disco equipment Machinery fixtures & computer equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 24,450 35,403 55,055 114,908
Additions - 590 - 590
At 31 December 2023 24,450 35,993 55,055 115,498
Depreciation
At 1 January 2023 24,450 35,258 45,325 105,033
Charge for the year - 290 3,245 3,535
At 31 December 2023 24,450 35,548 48,570 108,568
Net book value
At 31 December 2023 - 445 6,485 6,930
At 31 December 2022 - 145 9,730 9,875
5 Debtors 2023 2022
£ £
Trade debtors 10,010 4,720
Directors loan 32,041 44,443
Other debtors 8,038 8,038
50,089 57,201
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 8,951 27,427
Taxation and social security costs 26,937 20,390
Other creditors 2,740 3,671
38,628 51,488
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 5,847 5,958
8 Controlling party
The company is controlled by the director.
9 Other information
Edwards & Company (Glos) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Clock House
Stafford Mill
Thrupp
Stroud
Glos
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