Registered number
08533406
Edmunds Design & Construction Ltd
Filleted Accounts
31 May 2024
Edmunds Design & Construction Ltd
Registered number: 08533406
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 75,785 101,047
Current assets
Debtors 4 583,104 390,363
Cash at bank and in hand 79,542 87,038
662,646 477,401
Creditors: amounts falling due within one year 5 (376,559) (284,477)
Net current assets 286,087 192,924
Total assets less current liabilities 361,872 293,971
Creditors: amounts falling due after more than one year 6 (147,432) (200,609)
Net assets 214,440 93,362
Capital and reserves
Called up share capital 2 2
Profit and loss account 214,438 93,360
Shareholders' funds 214,440 93,362
The directors are 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 directors acknowledge their 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.
Mrs C Edmunds
Director
Approved by the board on 14 October 2024
Edmunds Design & Construction Ltd
Notes to the Accounts
for the year ended 31 May 2024
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.
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:
Vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 3,446 117,308 120,754
At 31 May 2024 3,446 117,308 120,754
Depreciation
At 1 June 2023 1,859 17,848 19,707
Charge for the year 397 24,865 25,262
At 31 May 2024 2,256 42,713 44,969
Net book value
At 31 May 2024 1,190 74,595 75,785
At 31 May 2023 1,587 99,460 101,047
4 Debtors 2024 2023
£ £
Trade debtors 376,160 183,419
Other debtors 206,944 206,944
583,104 390,363
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 64,788 64,425
Obligations under finance lease and hire purchase contracts 2,345 2,345
Trade creditors 133,194 100,708
Taxation and social security costs 151,452 111,168
Director's account 853 247
Other creditors 23,927 5,584
376,559 284,477
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 108,605 159,046
Obligations under finance lease and hire purchase contracts 38,827 41,563
147,432 200,609
7 Loans 2024 2023
£ £
Creditors include:
Leased assets (secured on the assets concerned) 41,172 43,908
8 Other information
Edmunds Design & Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
113 Broadway
Leigh-on-Sea
Essex
SS9 1PG
Edmunds Design & Construction Ltd 08533406 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2024 Mrs C Edmunds No description of principal activity 08533406 2022-06-01 2023-05-31 08533406 core:WithinOneYear 2023-05-31 08533406 core:AfterOneYear 2023-05-31 08533406 core:ShareCapital 2023-05-31 08533406 core:RetainedEarningsAccumulatedLosses 2023-05-31 08533406 2023-06-01 2024-05-31 08533406 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08533406 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08533406 bus:Director40 2023-06-01 2024-05-31 08533406 1 2023-06-01 2024-05-31 08533406 2 2023-06-01 2024-05-31 08533406 core:PlantMachinery 2023-06-01 2024-05-31 08533406 core:Vehicles 2023-06-01 2024-05-31 08533406 countries:England 2023-06-01 2024-05-31 08533406 bus:FRS102 2023-06-01 2024-05-31 08533406 bus:FilletedAccounts 2023-06-01 2024-05-31 08533406 2024-05-31 08533406 core:WithinOneYear 2024-05-31 08533406 core:AfterOneYear 2024-05-31 08533406 core:ShareCapital 2024-05-31 08533406 core:RetainedEarningsAccumulatedLosses 2024-05-31 08533406 core:PlantMachinery 2024-05-31 08533406 core:Vehicles 2024-05-31 08533406 2023-05-31 08533406 core:PlantMachinery 2023-05-31 08533406 core:Vehicles 2023-05-31 iso4217:GBP xbrli:pure