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COMPANY REGISTRATION NUMBER: 01341991
EDWARDS MODULAR CONTROL LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2024
EDWARDS MODULAR CONTROL LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
54,430
73,871
Current assets
Stocks
27,636
25,318
Debtors
6
410,635
437,607
Cash at bank and in hand
143,426
97,855
----------
----------
581,697
560,780
Creditors: amounts falling due within one year
7
152,966
173,213
----------
----------
Net current assets
428,731
387,567
----------
----------
Total assets less current liabilities
483,161
461,438
Creditors: amounts falling due after more than one year
8
18,333
28,333
----------
----------
Net assets
464,828
433,105
----------
----------
Capital and reserves
Called up share capital
200
200
Profit and loss account
464,628
432,905
----------
----------
Shareholders funds
464,828
433,105
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
EDWARDS MODULAR CONTROL LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
Mr A J Edwards
Director
Company registration number: 01341991
EDWARDS MODULAR CONTROL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% 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 includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 14 (2023: 17 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2023
50,348
5,712
157,790
213,850
Disposals
( 12,962)
( 12,962)
---------
-------
----------
----------
At 31 May 2024
50,348
5,712
144,828
200,888
---------
-------
----------
----------
Depreciation
At 1 June 2023
47,152
4,941
87,886
139,979
Charge for the year
799
193
17,151
18,143
Disposals
( 11,664)
( 11,664)
---------
-------
----------
----------
At 31 May 2024
47,951
5,134
93,373
146,458
---------
-------
----------
----------
Carrying amount
At 31 May 2024
2,397
578
51,455
54,430
---------
-------
----------
----------
At 31 May 2023
3,196
771
69,904
73,871
---------
-------
----------
----------
6. Debtors
2024
2023
£
£
Trade debtors
368,215
393,813
Other debtors
42,420
43,794
----------
----------
410,635
437,607
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
88,037
84,952
Corporation tax
22,741
7,949
Social security and other taxes
18,393
20,538
Other creditors
13,795
49,774
----------
----------
152,966
173,213
----------
----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
18,333
28,333
---------
---------