Edwards Technical Limited |
Registered number: |
05194544 |
Balance Sheet |
as at 31 March 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
182,958 |
|
|
190,696 |
|
Current assets |
Stocks |
|
|
20,000 |
|
|
23,500 |
Debtors |
4 |
|
787,877 |
|
|
696,149 |
Cash at bank and in hand |
|
|
531,902 |
|
|
804,689 |
|
|
|
1,339,779 |
|
|
1,524,338 |
|
Creditors: amounts falling due within one year |
5 |
|
(608,468) |
|
|
(484,988) |
|
Net current assets |
|
|
|
731,311 |
|
|
1,039,350 |
|
Total assets less current liabilities |
|
|
|
914,269 |
|
|
1,230,046 |
|
|
Provisions for liabilities |
6 |
|
|
(134,850) |
|
|
(121,070) |
|
|
Net assets |
|
|
|
779,419 |
|
|
1,108,976 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
779,417 |
|
|
1,108,974 |
|
Shareholders' funds |
|
|
|
779,419 |
|
|
1,108,976 |
|
|
|
|
|
|
|
|
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. |
|
|
|
|
M Lockley |
Director |
Approved by the board on 24 October 2024 |
|
Edwards Technical Limited |
Notes to the Accounts |
for the year ended 31 March 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 / snagging costs |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes, and is recognised as earned. Turnover as billed does also, however, recognise that there may be further work (snagging) to undertake upon projects. These snagging costs are provided for based on long-run historical costs incurred. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulated depreciation, which is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
33-50% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Taxation |
|
Tax payable on the company's taxable profits is recognised as a creditor and timing differences between the recognition of items in the accounts and for tax assessment are recognised as a deferred liability. |
|
|
Provisions |
|
Provisions for liabilities of uncertain timing or amount are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
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 under which lease payments are recognised as an expense on a straight line basis over the lease term. The leases held by the company are all considered to be operating leases. |
|
|
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 |
31 |
|
32 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 April 2023 |
133,245 |
|
19,445 |
|
319,263 |
|
471,953 |
|
Additions |
- |
|
- |
|
48,846 |
|
48,846 |
|
Disposals |
- |
|
- |
|
(16,496) |
|
(16,496) |
|
At 31 March 2024 |
133,245 |
|
19,445 |
|
351,613 |
|
504,303 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2023 |
131,403 |
|
16,578 |
|
133,276 |
|
281,257 |
|
Charge for the year |
372 |
|
717 |
|
51,145 |
|
52,234 |
|
On disposals |
- |
|
- |
|
(12,146) |
|
(12,146) |
|
At 31 March 2024 |
131,775 |
|
17,295 |
|
172,275 |
|
321,345 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2024 |
1,470 |
|
2,150 |
|
179,338 |
|
182,958 |
|
At 31 March 2023 |
1,842 |
|
2,867 |
|
185,987 |
|
190,696 |
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Trade debtors |
681,852 |
|
576,359 |
|
Other debtors |
106,025 |
|
119,790 |
|
|
|
|
|
|
787,877 |
|
696,149 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
347,856 |
|
320,379 |
|
Taxation and social security costs |
241,662 |
|
142,953 |
|
Other creditors |
18,950 |
|
21,656 |
|
|
|
|
|
|
608,468 |
|
484,988 |
|
|
|
|
|
|
|
|
|
|
6 |
Provisions for liabilities |
Snagging |
Deferred |
costs |
tax |
Total |
£ |
£ |
£ |
|
|
At 1 April 2023 |
85,320 |
|
35,750 |
|
121,070 |
|
Charged to profit and loss |
12,030 |
|
1,750 |
|
13,780 |
|
|
At 31 March 2024 |
97,350 |
|
37,500 |
|
134,850 |
|
|
|
|
|
|
|
|
|
|
7 |
Other financial commitments |
2024 |
|
2023 |
£ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
116,400 |
|
140,900 |
|
|
|
|
|
|
|
|
|
|
8 |
Other information |
|
|
Edwards Technical Limited is wholly-owned by Edwards Technical (Mids) Limited. Both companies are private companies limited by shares and incorporated in England and Wales. The registered office for both companies is situated at Technical House, 84 Sedgley Road, Dudley, DY1 4NG. |