Registered number
03580996
Edwards & Company (Property) Limited
Unaudited Filleted Accounts
30 April 2024
Edwards & Company (Property) Limited
Registered number: 03580996
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,993,497 1,975,000
Investments 4 3 3
1,993,500 1,975,003
Current assets
Debtors 5 245,700 137,395
Cash at bank and in hand 14,837 132,111
260,537 269,506
Creditors: amounts falling due within one year 6 (76,732) (97,979)
Net current assets 183,805 171,527
Total assets less current liabilities 2,177,305 2,146,530
Provisions for liabilities (3,514) -
Net assets 2,173,791 2,146,530
Capital and reserves
Called up share capital 3 3
Capital redemtion reserve 1 1
Profit and loss account 2,173,787 2,146,526
Shareholders' funds 2,173,791 2,146,530
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.
Mr N M Hunter
Director
Approved by the board on 27 January 2025
Edwards & Company (Property) Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the restatement of investment properties at fair value 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).

The financial statements are prepared in Pound Sterling which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest pound.
Group accounts not prepared
The company is exempt by virtue of Section 399 of the Companies Act 2006 from the requirement to prepare consolidated accounts.
Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates, and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised, if the revision affects only that year, or in the year of the revision and future years if the revision affects both current and future years. The directors do not consider there to be any critical accounting judgements that must be applied.
Key sources of estimation uncertainty
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Those estimates and assumptions may have a significant risk of causing a material adjustments to the carrying value of assets and liabilities within the next financial year.

A key source of estimation and uncertainty relates to the valuation of investment properties, where a valuation is obtained annually, either by professionally qualified external valuers or by the company's own directors who are also qualified Chartered Surveyors. The evidence to support these valuations is based primarily on recent, comparable market transactions on an arm's length basis. However, the assumptions applied are inherently subjective and so are subject to a degree of uncertainty. Property valuations is the principal uncertainty of the company. The carrying amount of investment properties is £1,975,000 (2023 -£1,975,000).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises the rental income and service charges from investment property held and arises wholly in United Kingdom. Where rental income is received from tenants in advance, the amounts are recorded as deferred income and included as part of creditors due within one year. Property rental income are accounted for on accrual basis and recognised on a straight line basis over the lease term.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than investment property, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, and equipment 15% straight line
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director observes market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company (including directors) 3 3
3 Tangible fixed assets
Investment properties Plant and machinery etc Total
£ £ £
Cost or valuation
At 1 May 2023 1,975,000 - 1,975,000
Additions - 21,761 21,761
At 30 April 2024 1,975,000 21,761 1,996,761
Depreciation
Charge for the year - 3,264 3,264
At 30 April 2024 - 3,264 3,264
Net book value
At 30 April 2024 1,975,000 18,497 1,993,497
At 30 April 2023 1,975,000 - 1,975,000
Investment properties 2024 2023
£ £
Historical cost 2,115,503 2,115,503
2,115,503 2,115,503
Investment properties comprise of freehold and long leasehold commercial properties. Investment properties were revalued by the directors who are qualified Chartered Surveyors at the year end based on their open market value. The historical cost of the investment properties, determined by the historical cost convention are as stated above.
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 May 2023 3
At 30 April 2024 3
Details of subsidiary undertaking
The investment in subsidiary undertaking comprises of the cost of the company's investment in 75% (2023 - 75%) ordinary shares in issue of Edwards Property SPV1 Limited.

Edwards Property SPV1 Limited is registered in England and Wales, its activities comprise of property development, letting and management, and its registered office is situated at 26 King Street, Manchester, M2 6AY.
5 Debtors 2024 2023
£ £
Trade debtors 31,435 20,739
Amounts owed by group undertakings and undertakings in which the company has a participating interest 210,495 114,465
Other debtors 3,770 2,191
245,700 137,395
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 15,516 15,212
Taxation and social security costs 21,243 43,131
Other creditors 39,973 39,636
76,732 97,979
7 Related party transactions
At the balance sheet date the company was owed £209,965 (2023 - £114,465) in respect of loans made to its subsidiary undertaking, Edwards Property SPV1 Limited. The loans are unsecured and free from interest.
8 Other information
Edwards & Company (Property) Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 King Street
Manchester
M2 6AY
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