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REGISTERED NUMBER: 04527643 (England and Wales)














Financial Statements

for the Year Ended 31 May 2024

for

R J Edwards & Sons Ltd

R J Edwards & Sons Ltd (Registered number: 04527643)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


R J Edwards & Sons Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr D B Jenkins
Mr D N Smart





REGISTERED OFFICE: 7 Papworth Business Park
Stirling Way
Papworth Everard
Cambridge
Cambridgeshire
CB23 3GY





REGISTERED NUMBER: 04527643 (England and Wales)





AUDITORS: Freedman Frankl & Taylor
Statutory Auditors
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

R J Edwards & Sons Ltd (Registered number: 04527643)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,171,203 1,083,678
1,171,203 1,083,678

CURRENT ASSETS
Stocks 25,315 38,331
Debtors 6 1,064,842 975,570
Cash at bank 233,554 464,924
1,323,711 1,478,825
CREDITORS
Amounts falling due within one year 7 930,667 1,496,471
NET CURRENT ASSETS/(LIABILITIES) 393,044 (17,646 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,564,247

1,066,032

CREDITORS
Amounts falling due after more than one year 8 (301,849 ) (160,333 )

PROVISIONS FOR LIABILITIES (186,419 ) (201,553 )
NET ASSETS 1,075,979 704,146

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 1,074,979 703,146
SHAREHOLDERS' FUNDS 1,075,979 704,146

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 2 October 2024 and were signed on its behalf by:




Mr D N Smart - Director


R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

R J Edwards & Sons 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned entities within the group.

Significant judgements and estimates
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below.

Assessing indicators of impairment
In assessing whether there have been any indicators of impairment assets, the directors have considered both external and internal sources of information such as market conditions and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Tangible fixed assets
Tangible fixed assets, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Turnover
Revenue comprises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefit will flow into the entity;
and specific criteria have been met for each of the company's activities.

Interest income
Interest income is recognised in the statement of comprehensive income using the effective interest method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - The period of the lease
Plant and machinery - 20% on cost and 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Tangible fixed assets are initially recorded at cost less any tax, discounts and rebates. Subsequently they are recorded at cost less accumulated depreciation and impairment.

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.

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.

R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

Amounts payable under operating leases are charged to the profit and loss account in the period in which they are incurred.

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.

Going concern
The company's financial statements for the year ended 31 May 2024 have been prepared on a going concern basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 62 (2023 - 45 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 60,000
AMORTISATION
At 1 June 2023
and 31 May 2024 60,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 June 2023 115,229 473,524 225,591
Additions - 10,906 6,613
Disposals - - -
Reclassification/transfer - 307,423 -
At 31 May 2024 115,229 791,853 232,204
DEPRECIATION
At 1 June 2023 42,634 323,644 152,216
Charge for year 7,682 74,908 23,201
Eliminated on disposal - - -
Reclassification/transfer - 229,732 -
At 31 May 2024 50,316 628,284 175,417
NET BOOK VALUE
At 31 May 2024 64,913 163,569 56,787
At 31 May 2023 72,595 149,880 73,375

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 1,249,118 150,123 2,213,585
Additions 496,200 6,370 520,089
Disposals (241,395 ) - (241,395 )
Reclassification/transfer (307,423 ) - -
At 31 May 2024 1,196,500 156,493 2,492,279
DEPRECIATION
At 1 June 2023 477,991 133,422 1,129,907
Charge for year 229,828 5,437 341,056
Eliminated on disposal (149,887 ) - (149,887 )
Reclassification/transfer (229,732 ) - -
At 31 May 2024 328,200 138,859 1,321,076
NET BOOK VALUE
At 31 May 2024 868,300 17,634 1,171,203
At 31 May 2023 771,127 16,701 1,083,678

R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
Additions 204,000
At 31 May 2024 204,000
NET BOOK VALUE
At 31 May 2024 204,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 693,968 655,772
Amounts owed by group undertakings 63,811 -
Other debtors 18,000 12,000
Prepayments 289,063 307,798
1,064,842 975,570

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 9) 43,746 -
Trade creditors 284,885 496,552
Amounts owed to group undertakings - 748,949
Corporation tax 142,128 5
Social security and other taxes 133,506 60,300
Other creditors 7,491 4,578
Accrued expenses 318,911 186,087
930,667 1,496,471

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases (see note 9) 160,254 -
Accruals 141,595 160,333
301,849 160,333

R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Gross obligations repayable:
Within one year 55,849 -
Between one and five years 183,504 -
239,353 -

Finance charges repayable:
Within one year 12,103 -
Between one and five years 23,250 -
35,353 -

Net obligations repayable:
Within one year 43,746 -
Between one and five years 160,254 -
204,000 -

Non-cancellable operating leases
2024 2023
£    £   
Within one year 555,000 555,000
Between one and five years 2,220,000 2,220,000
In more than five years 1,572,500 2,127,500
4,347,500 4,902,500

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S Bacall BSc(Hons) BFP ACA (Senior Statutory Auditor)
for and on behalf of Freedman Frankl & Taylor

R J Edwards & Sons Ltd (Registered number: 04527643)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

12. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 107,000 -

13. ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Frederic Smart & Son Limited, a company incorporated and registered in England and Wales. Copies of the financial statements of these undertakings can be obtained from 7 Papworth Business Park Stirling Way, Papworth Everard, Cambridge, CB23 3GY.