Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Provisions for liabilities | ( |
- | |||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Capital redemtion reserve | 1 | 1 | |||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Mr N M Hunter | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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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 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. |
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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). |
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Turnover | ||||||||
Tangible fixed assets | ||||||||
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 | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company (including directors) | ||||||||
3 | Tangible fixed assets | |||||||
Investment properties | Plant and machinery etc | Total | ||||||
£ | £ | £ | ||||||
Cost or valuation | ||||||||
At 1 May 2023 | - | |||||||
Additions | - | |||||||
At 30 April 2024 | ||||||||
Depreciation | ||||||||
Charge for the year | - | |||||||
At 30 April 2024 | - | |||||||
Net book value | ||||||||
At 30 April 2024 | ||||||||
At 30 April 2023 | - | |||||||
Investment properties | 2024 | 2023 | ||||||
£ | £ | |||||||
Historical cost | 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 | ||||||||
At 30 April 2024 | ||||||||
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. |
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5 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Amounts owed by group undertakings and undertakings in which the company has a participating interest | ||||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
7 | Related party transactions | |||||||
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 |