REGISTERED NUMBER: |
R. Edwards & Sons (1997) Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
R. Edwards & Sons (1997) Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
R. Edwards & Sons (1997) Limited (Registered number: 03312941) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
R. Edwards & Sons (1997) Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 King Square |
Bridgwater |
Somerset |
TA6 3YF |
BANKERS: |
5 High Street |
Swindon |
Wiltshire |
SN1 3EN |
R. Edwards & Sons (1997) Limited (Registered number: 03312941) |
Statement of Financial Position |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Freehold land revaluation |
reserve | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
R. Edwards & Sons (1997) Limited (Registered number: 03312941) |
Statement of Financial Position - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
R. Edwards & Sons (1997) Limited (Registered number: 03312941) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
R. Edwards & Sons (1997) Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services. |
Goodwill |
Goodwill, being the amount paid in connection with the acquisition of a business in 1997, has been written off over its estimated useful life of five years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Investment properties |
Investment property consisting solely of land is included within the financial statements at fair value. Where applicable, gains and losses in relation to this value are recognised within the income statement and held within a separate, non-distributable reserve. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. Edwards & Sons (1997) Limited (Registered number: 03312941) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
AMORTISATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | TANGIBLE FIXED ASSETS |
Freehold |
land |
£ |
COST OR VALUATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The freehold land was acquired as an investment. |
Cost or valuation at 31 March 2024 is represented by: |
Freehold |
land |
£ |
Valuation in 2020 | 525,000 |
If freehold land had not been revalued it would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 497,350 | 497,350 |
Freehold land was valued on an open market basis on 7 November 2018 by Lambert Smith Hampton . |
R. Edwards & Sons (1997) Limited (Registered number: 03312941) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |
8. | RESERVES |
Freehold |
land |
revaluation |
reserve |
£ |
At 1 April 2023 |
and 31 March 2024 |
9. | CONTINGENT LIABILITIES |
The directors and other parties engaged by the company have incurred considerable management time on behalf of the company over many years for which no formal claim has yet been made, totalling £422,955; in addition the directors have incurred legal fees relating to the conduct of the company of £11,317 for which no formal claim has yet been made. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
The company was controlled throughout the current and previous periods by its directors, H B Farr, L E Farr and a member of their close family, by virtue of the fact that between them they own all the issued share capital of the company. |