IRIS Accounts Production v24.2.0.383 05253250 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh052532502022-12-31052532502023-12-31052532502023-01-012023-12-31052532502021-12-31052532502022-01-012022-12-31052532502022-12-3105253250ns15:EnglandWales2023-01-012023-12-3105253250ns14:PoundSterling2023-01-012023-12-3105253250ns10:Director12023-01-012023-12-3105253250ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3105253250ns10:SmallEntities2023-01-012023-12-3105253250ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3105253250ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3105253250ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3105253250ns10:FullAccounts2023-01-012023-12-310525325012023-01-012023-12-3105253250ns10:OrdinaryShareClass12023-01-012023-12-3105253250ns10:Director22023-01-012023-12-3105253250ns10:CompanySecretary12023-01-012023-12-3105253250ns10:RegisteredOffice2023-01-012023-12-3105253250ns5:CurrentFinancialInstruments2023-12-3105253250ns5:CurrentFinancialInstruments2022-12-3105253250ns5:ShareCapital2023-12-3105253250ns5:ShareCapital2022-12-3105253250ns5:RetainedEarningsAccumulatedLosses2023-12-3105253250ns5:RetainedEarningsAccumulatedLosses2022-12-3105253250ns5:NetGoodwill2023-01-012023-12-3105253250ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3105253250ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3105253250ns5:FurnitureFittings2023-01-012023-12-3105253250ns5:ComputerEquipment2023-01-012023-12-3105253250ns5:NetGoodwill2022-12-3105253250ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3105253250ns5:NetGoodwill2023-12-3105253250ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3105253250ns5:NetGoodwill2022-12-3105253250ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3105253250ns5:FurnitureFittings2022-12-3105253250ns5:ComputerEquipment2022-12-3105253250ns5:FurnitureFittings2023-12-3105253250ns5:ComputerEquipment2023-12-3105253250ns5:FurnitureFittings2022-12-3105253250ns5:ComputerEquipment2022-12-3105253250ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3105253250ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3105253250ns5:DeferredTaxation2022-12-3105253250ns5:DeferredTaxation2023-12-3105253250ns10:OrdinaryShareClass12023-12-3105253250ns5:RetainedEarningsAccumulatedLosses2022-12-3105253250ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-31
REGISTERED NUMBER: 05253250 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

GEORGE EDWARDS & SON LIMITED

GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEORGE EDWARDS & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: G Edwards
C Edwards



SECRETARY: C Edwards



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 05253250 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: HSBC Bank plc
17-19 Regent Street
Wrexham
LL11 1RN

GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2 2
Tangible assets 5 298,821 365,689
298,823 365,691

CURRENT ASSETS
Stocks 6 4,026 4,451
Debtors 7 53,350 64,068
Cash at bank and in hand 270,509 129,973
327,885 198,492
CREDITORS
Amounts falling due within one year 8 219,170 199,552
NET CURRENT ASSETS/(LIABILITIES) 108,715 (1,060 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

407,538

364,631

PROVISIONS FOR LIABILITIES 9 74,705 91,422
NET ASSETS 332,833 273,209

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 332,733 273,109
SHAREHOLDERS' FUNDS 332,833 273,209

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)

BALANCE SHEET - continued
31ST DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10th September 2024 and were signed on its behalf by:





C Edwards - Director


GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

George Edwards & Son 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Intangible assets
Intangible assets are written off at the following rates: -

Patents and licences - 20% on cost

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 10% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 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 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 40,000 3,192 43,192
AMORTISATION
At 1st January 2023
and 31st December 2023 39,999 3,191 43,190
NET BOOK VALUE
At 31st December 2023 1 1 2
At 31st December 2022 1 1 2

GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

5. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st January 2023
and 31st December 2023 795,162 10,009 805,171
DEPRECIATION
At 1st January 2023 433,182 6,300 439,482
Charge for year 66,487 381 66,868
At 31st December 2023 499,669 6,681 506,350
NET BOOK VALUE
At 31st December 2023 295,493 3,328 298,821
At 31st December 2022 361,980 3,709 365,689

6. STOCKS
31.12.23 31.12.22
£    £   
Stocks 4,026 4,451

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 40,055 49,829
VAT 10,480 11,526
Prepayments 2,815 2,713
53,350 64,068

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,564 2,698
Credit card control account 1,849 619
Tax 45,260 19,522
Social security and other taxes 1,735 -
Other creditors 135 -
Directors' current accounts 165,442 173,505
Accrued expenses 3,185 3,208
219,170 199,552

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 74,705 91,422

GEORGE EDWARDS & SON LIMITED (REGISTERED NUMBER: 05253250)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1st January 2023 91,422
Movement in period due to -
Changes in tax allowances (16,717 )
Changes in tax rates
Balance at 31st December 2023 74,705

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1st January 2023 273,109
Profit for the year 99,624
Dividends (40,000 )
At 31st December 2023 332,733