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EdEx Education Recruitment Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13790707
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 35,349 34,582
Investments 5 97,945 10,244
133,294 44,826
CURRENT ASSETS
Debtors 6 142,361 147,657
Cash at bank and in hand 701,964 418,584
844,325 566,241
Creditors: Amounts Falling Due Within One Year 7 (250,998 ) (268,193 )
NET CURRENT ASSETS (LIABILITIES) 593,327 298,048
TOTAL ASSETS LESS CURRENT LIABILITIES 726,621 342,874
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,703 ) (6,570 )
NET ASSETS 717,918 336,304
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 717,818 336,204
SHAREHOLDERS' FUNDS 717,918 336,304
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R G Bingham
Director
Mr G A Mair
Director
23 September 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
EdEx Education Recruitment Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13790707 . The registered office is Maidstone House, King Street, Maidstone, Kent, ME15 6JQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15 Straight Line
Fixtures & Fittings 15% Straight Line
Computer Equipment 20% Straight Line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Financial Instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares, which are measured at fair value, with changes recognised in profit or loss. 
Derivative financial instruments, where applicable, are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and a deferred tax provision where necessary in accordance with accounting standards.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all material taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Where a reliable tax rate cannot be forecast, a deferred tax provision is calculated at the highest tax rate possibly applicable, based on tax rates (and tax laws) enacted by the end of the reporting date. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
The average number of employees, including directors, during the year was as follows: 10 (2023: 8)
10 8
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 April 2023 - 36,656 36,656
Additions 2,211 9,562 11,773
Disposals - (1,791 ) (1,791 )
As at 31 March 2024 2,211 44,427 46,638
Depreciation
As at 1 April 2023 - 2,074 2,074
Provided during the period 332 8,883 9,215
As at 31 March 2024 332 10,957 11,289
Net Book Value
As at 31 March 2024 1,879 33,470 35,349
As at 1 April 2023 - 34,582 34,582
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5. Investments
Listed
£
Cost
As at 1 April 2023 10,244
Additions 80,000
Revaluations 7,701
As at 31 March 2024 97,945
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 97,945
As at 1 April 2023 10,244
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Trade debtors 14,437 29,368
Other debtors 103,441 118,289
117,878 147,657
Due after more than one year
Other debtors 24,483 -
142,361 147,657
7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Other creditors 27,318 83,321
Taxation and social security 223,680 184,872
250,998 268,193
Included within Other creditors above are unsecured loans from the directors of £14,486 (2023 - £15,957). These loans are interest free and repayable on demand. 
8. Secured Creditors
Of the creditors the following amounts are secured. The creditor is secured over the assets of the company by way of fixed and floating charges.
31 March 2024 31 March 2023
£ £
Other Creditors 26,936 65,773
9. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 100 100
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10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 March 2024 31 March 2023
£ £
Not later than one year 48,965 10,343
Later than one year and not later than five years 188,631 12,928
237,596 23,271
Included above are details of the property rental lease agreement which ends in May 2028.
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Ryan Bingham 20,587 96,296 94,617 - 22,266
The above loan is unsecured, repayable on demand with interest charged at the HMRC official rate.
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