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REGISTERED NUMBER: 06302163 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Edwards of Conwy Ltd

Edwards of Conwy Ltd (Registered number: 06302163)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Edwards of Conwy Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: I G Edwards





SECRETARY: Mrs C Edwards





REGISTERED OFFICE: 18 High Street
Conwy
LL32 8DE





REGISTERED NUMBER: 06302163 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
The Old Schoolhouse,
5-7 Byrom Street,
Manchester
M3 4PF

Edwards of Conwy Ltd (Registered number: 06302163)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 271,500 325,800
Tangible assets 5 89,165 108,978
360,665 434,778

CURRENT ASSETS
Stocks 50,085 51,773
Debtors 6 41,582 37,683
Cash at bank 398,608 308,365
490,275 397,821
CREDITORS
Amounts falling due within one year 7 186,067 155,911
NET CURRENT ASSETS 304,208 241,910
TOTAL ASSETS LESS CURRENT
LIABILITIES

664,873

676,688

PROVISIONS FOR LIABILITIES 8 15,640 14,541
NET ASSETS 649,233 662,147

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 649,133 662,047
SHAREHOLDERS' FUNDS 649,233 662,147

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

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

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.

Edwards of Conwy Ltd (Registered number: 06302163)

Balance Sheet - continued
31 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





I G Edwards - Director


Edwards of Conwy Ltd (Registered number: 06302163)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Edwards of Conwy Ltd 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.

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.

Turnover
Turnover represents invoiced sales of goods despatched, excluding value added tax. Sales are recognised at the point of despatch.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 15 years
Plant and machinery - 12.5% on cost
Fixtures and fittings - 12.5% on cost
Motor vehicles - 10% - 33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes direct expenditure on packaging materials and ingredients.

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.

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.

Edwards of Conwy Ltd (Registered number: 06302163)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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 28 (2022 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 1,086,000
AMORTISATION
At 1 January 2023 760,200
Charge for year 54,300
At 31 December 2023 814,500
NET BOOK VALUE
At 31 December 2023 271,500
At 31 December 2022 325,800

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 67,071 243,698 420,258 28,305 759,332
Additions - 800 - - 800
At 31 December 2023 67,071 244,498 420,258 28,305 760,132
DEPRECIATION
At 1 January 2023 39,329 176,049 406,671 28,305 650,354
Charge for year 4,471 11,979 4,163 - 20,613
At 31 December 2023 43,800 188,028 410,834 28,305 670,967
NET BOOK VALUE
At 31 December 2023 23,271 56,470 9,424 - 89,165
At 31 December 2022 27,742 67,649 13,587 - 108,978

Edwards of Conwy Ltd (Registered number: 06302163)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 26,838 27,469
Directors' current accounts 3,982 182
VAT 6,305 4,814
Prepayments 4,457 5,218
41,582 37,683

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 82,784 89,469
Tax 47,546 18,231
Social security and other taxes 9,396 8,659
Other creditors 6,035 6,209
Amount due from related undertaking 9,854 9,230
Accrued expenses 30,452 24,113
186,067 155,911

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 15,640 14,541

Deferred
tax
£   
Balance at 1 January 2023 14,541
Provided during year 1,099
Balance at 31 December 2023 15,640

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31st December 2023, I G Edwards owed the company £3,982 (2022: £182). The loan is repayable on demand and no interest has been charged in the year (2022: £Nil).

10. RELATED PARTY DISCLOSURES

During the year the company purchased goods to the value of £129,097 (2022: £100,220) from and sold goods to the value of £2,509 (2022: £3,244) to The Traditional Welsh Sausage Company Limited, a company owned by I G Edwards, the director of the company. At 31st December 2023, the company owed £9,854 (2022: £9,230) to The Traditional Welsh Sausage Company Limited. Both sales and purchases were made on a normal trading basis.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by I G Edwards, the director and majority shareholder.