Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true132023-01-01No description of principal activity13true 07546236 2023-01-01 2023-12-31 07546236 2022-01-01 2022-12-31 07546236 2023-12-31 07546236 2022-12-31 07546236 c:Director1 2023-01-01 2023-12-31 07546236 d:Buildings 2023-01-01 2023-12-31 07546236 d:Buildings 2023-12-31 07546236 d:Buildings 2022-12-31 07546236 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07546236 d:PlantMachinery 2023-01-01 2023-12-31 07546236 d:PlantMachinery 2023-12-31 07546236 d:PlantMachinery 2022-12-31 07546236 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07546236 d:MotorVehicles 2023-01-01 2023-12-31 07546236 d:MotorVehicles 2023-12-31 07546236 d:MotorVehicles 2022-12-31 07546236 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07546236 d:OfficeEquipment 2023-01-01 2023-12-31 07546236 d:OfficeEquipment 2023-12-31 07546236 d:OfficeEquipment 2022-12-31 07546236 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07546236 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07546236 d:CurrentFinancialInstruments 2023-12-31 07546236 d:CurrentFinancialInstruments 2022-12-31 07546236 d:Non-currentFinancialInstruments 2023-12-31 07546236 d:Non-currentFinancialInstruments 2022-12-31 07546236 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07546236 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07546236 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07546236 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07546236 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 07546236 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 07546236 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 07546236 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 07546236 d:ShareCapital 2023-12-31 07546236 d:ShareCapital 2022-12-31 07546236 d:RetainedEarningsAccumulatedLosses 2023-12-31 07546236 d:RetainedEarningsAccumulatedLosses 2022-12-31 07546236 c:OrdinaryShareClass1 2023-01-01 2023-12-31 07546236 c:OrdinaryShareClass1 2023-12-31 07546236 c:OrdinaryShareClass1 2022-12-31 07546236 c:FRS102 2023-01-01 2023-12-31 07546236 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07546236 c:FullAccounts 2023-01-01 2023-12-31 07546236 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07546236 2 2023-01-01 2023-12-31 07546236 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07546236










EDGE RENEWABLES LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
EDGE RENEWABLES LTD
REGISTERED NUMBER: 07546236

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,922,103
1,914,620

  
1,922,103
1,914,620

Current assets
  

Stocks
  
963,951
853,341

Debtors: amounts falling due within one year
 5 
833,498
594,951

Cash at bank and in hand
 6 
297,722
341,475

  
2,095,171
1,789,767

Creditors: amounts falling due within one year
 7 
(924,391)
(935,076)

Net current assets
  
 
 
1,170,780
 
 
854,691

Total assets less current liabilities
  
3,092,883
2,769,311

Creditors: amounts falling due after more than one year
 8 
(1,345,663)
(560,230)

Provisions for liabilities
  

Deferred tax
  
(220,198)
(224,422)

  
 
 
(220,198)
 
 
(224,422)

Net assets
  
1,527,022
1,984,659


Capital and reserves
  

Called up share capital 
 10 
1,000
1,000

Profit and loss account
  
1,526,022
1,983,659

  
1,527,022
1,984,659


Page 1

 
EDGE RENEWABLES LTD
REGISTERED NUMBER: 07546236
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr S V Lloyd-Jones
Director

Date: 19 August 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Edge Renewables Limited is a private limited company, limited by shares, incorporated in England and Wales, with its registered office at Lea Querry, Stretton Westwood, Much Wenlock, Shropshire, TF13 6DG.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
Plant and machinery
-
5%-20% straight line
Motor vehicles
-
5%-20% straight line
Office equipment
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention
Page 6

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2022 - 13).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
829,826
1,733,711
593,954
58,287
3,215,778


Additions
43,345
123,294
83,865
-
250,504


Disposals
(28,959)
(132,441)
(6,785)
(5,388)
(173,573)



At 31 December 2023

844,212
1,724,564
671,034
52,899
3,292,709



Depreciation


At 1 January 2023
135,702
689,668
422,191
53,597
1,301,158


Charge for the year on owned assets
17,284
106,590
53,620
3,973
181,467


Disposals
(6,291)
(94,724)
(5,938)
(5,066)
(112,019)



At 31 December 2023

146,695
701,534
469,873
52,504
1,370,606



Net book value



At 31 December 2023
697,517
1,023,030
201,161
395
1,922,103



At 31 December 2022
694,124
1,044,043
171,763
4,690
1,914,620

Page 7

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
591,123
336,962

Amounts owed by group undertakings
73,961
39,238

Other debtors
2,834
9,227

Prepayments and accrued income
165,580
209,524

833,498
594,951



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
297,722
341,475

297,722
341,475



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,108
10,108

Trade creditors
519,646
627,334

Amounts owed to group undertakings
98,449
204,873

Other taxation and social security
76,100
32,122

Obligations under finance lease and hire purchase contracts
48,057
22,962

Other creditors
7,773
6,331

Accruals and deferred income
164,258
31,346

924,391
935,076


Page 8

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,807
24,693

Net obligations under finance leases and hire purchase contracts
65,902
40,583

Amounts owed to group undertakings
1,264,954
494,954

1,345,663
560,230



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,108
10,108


10,108
10,108

Amounts falling due 1-2 years

Bank loans
10,108
10,108


10,108
10,108


Amounts falling due after more than 5 years

Bank loans
4,699
14,585

4,699
14,585

24,915
34,801



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,000 (2022 - 1,000) Ordinary shares of £1.00 each
1,000
1,000


Page 9

 
EDGE RENEWABLES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,166 (2022 - £8,700). Contributions totalling £1,987 (2022 - £1,938) were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

The ultimate parent undertaking of the Company is Edge Topco Limited, a company which owns 100% of the issued share capital of the company.
The ultimate controlling party is considered to be Simon Lloyd-Jones by virtue of his shareholding in Edge Topco Limited. 

 
Page 10