Edge Umbrella Limited |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention 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). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
79,441 |
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60,119 |
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Amounts owed by other connected companies |
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- |
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135,061 |
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79,441 |
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195,180 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Amounts owed to undertakings which has an interest in the company |
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(70,977) |
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222,236 |
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Taxation and social security costs |
315,631 |
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191,902 |
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Other creditors |
198,532 |
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3,184 |
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Accruals |
3,855 |
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3,855 |
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447,041 |
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421,177 |
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5 |
Related party transactions |
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Edge Umbrella Limited acts as on behalf of and is a fiduciary agent of Deposlo Holdings Ltd, a company incorporated and based in Cyprus. The company was owed by Deposlo Holdings Ltd £70,977 (2023: The company owed Deposlo Holdings Ltd: £222,236) as at the year end. |
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6 |
Controlling party |
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The director controls the company. |
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7 |
Other information |
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Edge Umbrella Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Office 17, Innovation Way |
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Discovery Park |
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Sandwich |
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Kent |
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CT13 9FF |