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REGISTERED NUMBER: 01489926 (England and Wales)












Financial Statements

for the Year Ended 31 March 2024

for

Glyn Edwards Office Equipment Limited

Glyn Edwards Office Equipment Limited (Registered number: 01489926)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glyn Edwards Office Equipment Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G.L. Edwards
J M Edwards



SECRETARY: J M Edwards



REGISTERED OFFICE: Caxton Buildings
4 Charles Street
MILFORD HAVEN
Pembrokeshire
SA73 2AJ



REGISTERED NUMBER: 01489926 (England and Wales)



SOLICITORS: Price and Kelway
16 Hamilton Terrace
Milford Haven
Pembrokeshire
SA73 3JA

Glyn Edwards Office Equipment Limited (Registered number: 01489926)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,559 42,484
Investments 5 100 100
48,659 42,584

CURRENT ASSETS
Stocks 6 135,100 131,200
Debtors 7 439,662 463,155
Investments 8 141,520 100,000
Cash at bank and in hand 1,115,849 1,031,192
1,832,131 1,725,547
CREDITORS
Amounts falling due within one year 9 463,453 443,948
NET CURRENT ASSETS 1,368,678 1,281,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,417,337

1,324,183

PROVISIONS FOR LIABILITIES 10,380 329
NET ASSETS 1,406,957 1,323,854

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 31,140 -
Retained earnings 1,375,717 1,323,754
SHAREHOLDERS' FUNDS 1,406,957 1,323,854

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Glyn Edwards Office Equipment Limited (Registered number: 01489926)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 December 2024 and were signed on its behalf by:





G.L. Edwards - Director


Glyn Edwards Office Equipment Limited (Registered number: 01489926)

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

1. STATUTORY INFORMATION

Glyn Edwards Office Equipment 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

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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 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 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.

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.

Glyn Edwards Office Equipment Limited (Registered number: 01489926)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 20,821 48,026 136,392 29,144 234,383
Additions - - 23,500 1,871 25,371
Disposals - - (31,430 ) - (31,430 )
At 31 March 2024 20,821 48,026 128,462 31,015 228,324
DEPRECIATION
At 1 April 2023 17,175 40,229 110,081 24,414 191,899
Charge for year 547 780 11,054 1,321 13,702
Eliminated on disposal - - (25,836 ) - (25,836 )
At 31 March 2024 17,722 41,009 95,299 25,735 179,765
NET BOOK VALUE
At 31 March 2024 3,099 7,017 33,163 5,280 48,559
At 31 March 2023 3,646 7,797 26,311 4,730 42,484

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 135,100 131,200

Glyn Edwards Office Equipment Limited (Registered number: 01489926)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 99,568 123,108
Amounts owed by group undertakings 340,000 340,000
Other debtors 94 47
439,662 463,155

8. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 141,520 100,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 49,536 53,543
Tax 37,709 17,785
Social Security and Other Taxes 5,193 7,223
VAT 20,127 17,870
Other creditors 2,717 2,503
Loan from connected company 340,904 332,252
Directors' current accounts 2,512 8,182
Accrued expenses 4,755 4,590
463,453 443,948

10. RESERVES
Fair
value
reserve
£   
Transfer 31,140

At 31 March 2024 31,140

Glyn Edwards Office Equipment Limited (Registered number: 01489926)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
G.L. Edwards
Balance outstanding at start of year (296 ) (296 )
Amounts advanced 1,269 7,188
Amounts repaid (1,269 ) (7,188 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (296 ) (296 )

J M Edwards
Balance outstanding at start of year (7,886 ) (5,196 )
Amounts advanced 7,886 -
Amounts repaid (2,215 ) (2,690 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2,215 ) (7,886 )

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £58,784 (2023 - £58,784) were paid to the directors .

13. ULTIMATE CONTROLLING PARTY

The controlling party is G.L. Edwards.