REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
EDWARD HOLDINGS (UK) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
EDWARD HOLDINGS (UK) LTD |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 3 |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
BALANCE SHEET |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
Current assets |
Debtors | 7 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
Provisions for liabilities | 11 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 12 |
Revaluation reserve |
Fair value reserve |
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. |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
BALANCE SHEET - continued |
29 FEBRUARY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | Statutory information |
Edward Holdings (UK) Limited is a private company, limited by shares, incorporated in England within the United Kingdom registration number 08520508. The address of the registered office is 7& 8 Church Street, Wimborne, Dorset, BH21 1JH and place of business is 404 Ringwood Road, Ferndown, Dorset, BH22 9AU. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Tangible fixed assets |
Freehold land and buildings are initially recorded at cost. Freehold property is subsequently carried at the revalued amount as at the balance sheet date. Any changes in the value of freehold property is taken to the revaluation reserve and gains are recognised in the statement of comprehensive income. Deferred taxation is provided on these gains at the rate applicable in the next financial year if the property were to be sold. |
The directors have reviewed the accounting policy and value of the freehold property as at the balance sheet date and have deemed any charge for depreciation to be immaterial. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment properties are included in the balance sheet at their fair value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. |
Gains are recognised in the statement of comprehensive income. Deferred taxation is provided on these gains at the rate applicable in the next financial year if the property were to be sold. |
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 that have been enacted or substantively enacted by the balance sheet date. |
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. |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
2. | Accounting policies - continued |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
Group accounts |
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiaries comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Freehold |
property |
£ |
Cost or valuation |
At 1 March 2023 |
and 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
Cost or valuation at 29 February 2024 is represented by: |
Freehold |
property |
£ |
Valuation in 2016 | 80,000 |
Valuation in 2018 | 10,000 |
Cost | 160,000 |
250,000 |
If freehold property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 160,000 | 160,000 |
Freehold property was valued on an open market basis on 29 February 2024 by the directors . |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 March 2023 |
and 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
6. | Investment property |
Total |
£ |
Fair value |
At 1 March 2023 |
and 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
Fair value at 29 February 2024 is represented by: |
£ |
Valuation in 2018 | 20,710 |
Valuation in 2021 | 23,000 |
Cost | 251,290 |
295,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 251,290 | 251,290 |
Investment property was valued on an open market basis on 29 February 2024 by the directors . |
7. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
8. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Tax |
VAT | 674 | 681 |
Other creditors |
Directors' current accounts | 129,286 | 105,401 |
Accruals and deferred income |
9. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Repayable in 1-5 years |
Repayment in more than 5 years |
by instalments | 61,425 | 13,767 |
Repayment in more than 5 years |
not by instalments | 115,741 | 127,970 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Repayment in more than 5 years |
not by instalments | 115,741 | 127,970 |
Repayable by instalments |
Repayment in more than 5 years |
by instalments | 61,425 | 13,767 |
61,425 | 13,767 |
10. | Secured debts |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
All monies due to or to become due to Lloyds Bank PLC are secured by way of a fixed and floating charge over the freehold property at 404 Ringwood Road, Ferndown, Dorset, dated 30th August 2013, and by way of a fixed and floating charge over all assets of the company, dated 15 January 2024. |
All monies due to or to become due to Aldermore Bank PLC are secured by way of a fixed and floating charge over the investment property at 39 The Kingfishers, Verwood, Dorset, dated 9th June 2016. |
EDWARD HOLDINGS (UK) LTD (REGISTERED NUMBER: 08520508) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
11. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 33,428 | 33,428 |
Deferred |
tax |
£ |
Balance at 1 March 2023 |
Balance at 29 February 2024 |
12. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | £1 | 180 | 180 |
Ordinary B | £1 | 120 | 120 |
300 | 300 |
13. | Ultimate controlling party |
The company is controlled by the director, Mr S Seyed-Rezai, and his spouse, by virtue of their 60% holding in the voting share capital. |