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REGISTERED NUMBER: 09024227 (England and Wales)















Michael Edwards Consultants Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Michael Edwards Consultants Limited (Registered number: 09024227)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Michael Edwards Consultants Limited

Company Information
for the year ended 30 April 2024







Directors: S H Goodall
P Juniper
M O'Hanlon
M E Saint
P Skillicorn
A W Allsopp-Jones





Registered office: Oak House
Tanshire Park
Shackleford Road
Elstead
Surrey
GU8 6LB





Registered number: 09024227 (England and Wales)





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

Michael Edwards Consultants Limited (Registered number: 09024227)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 9,375 121,875
Tangible assets 5 21,402 23,322
30,777 145,197

Current assets
Debtors 6 570,287 549,685
Cash at bank and in hand 208,605 294,230
778,892 843,915
Creditors
Amounts falling due within one year 7 297,085 344,268
Net current assets 481,807 499,647
Total assets less current liabilities 512,584 644,844

Creditors
Amounts falling due after more than one
year

8

(11,735

)

(21,674

)

Provisions for liabilities (1,550 ) (1,550 )
Net assets 499,299 621,620

Capital and reserves
Called up share capital 10 10,000 10,000
Retained earnings 489,299 611,620
Shareholders' funds 499,299 621,620

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Michael Edwards Consultants Limited (Registered number: 09024227)

Balance Sheet - continued
30 April 2024


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 October 2024 and were signed on its behalf by:





S H Goodall - Director


Michael Edwards Consultants Limited (Registered number: 09024227)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Michael Edwards Consultants 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.

2. Accounting policies

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Where services have been rendered but not invoiced, an amount has been included in accrued income based on the director's estimate.

Goodwill
Goodwill represents the excess of the cost of acquisition of a Limited Liability Partnership over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Buildings Leasehold10% straight line
Fixtures, fittings & equipment25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Michael Edwards Consultants Limited (Registered number: 09024227)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. This assessment has been made for a period of twelve months from the date of approving these financial statements.

3. Employees and directors

The average number of employees during the year was 20 (2023 - 21 ) .

Michael Edwards Consultants Limited (Registered number: 09024227)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023
and 30 April 2024 1,125,000
Amortisation
At 1 May 2023 1,003,125
Amortisation for year 112,500
At 30 April 2024 1,115,625
Net book value
At 30 April 2024 9,375
At 30 April 2023 121,875

5. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£ £ £
Cost
At 1 May 2023 16,483 61,456 77,939
Additions - 6,749 6,749
Disposals (1,421 ) - (1,421 )
At 30 April 2024 15,062 68,205 83,267
Depreciation
At 1 May 2023 5,413 49,204 54,617
Charge for year 1,506 6,007 7,513
Eliminated on disposal (265 ) - (265 )
At 30 April 2024 6,654 55,211 61,865
Net book value
At 30 April 2024 8,408 12,994 21,402
At 30 April 2023 11,070 12,252 23,322

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 267,151 273,622
Amounts owed by group undertakings 62,342 52,699
Other debtors 240,794 223,364
570,287 549,685

Michael Edwards Consultants Limited (Registered number: 09024227)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 19,818 78,995
Taxation and social security 241,996 225,351
Other creditors 24,623 29,274
297,085 344,268

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 11,735 21,674

9. Leasing agreements
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024 2023
£    £   

89,521 47,255

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
10,000 Ordinary £1 10,000 10,000

11. Directors' advances, credits and guarantees

At the year end an amount of £87,734 (2023 - £70,324) is owed by the directors. The maximum balance owed in the year was £102,887 (2023 - £101,757).

12. Related party disclosures

At the year end included in debtors, amounts owed by group undertakings, is an amount of £62,342 (2023 - £52,699) due from MIMASE Limited, the parent company.

At the year end included in other debtors is an amount of £32 (2023 - £13) due from a connected companies under common control.

13. Parent company

The ultimate parent company is Mimase Limited, whose registered office is the same as the company, whose registered office is Oak House, Tanshire Park, Shackleford Road, Elstead, Surrey, GU8 6LB.