6 6 Edge Gain Limited 08064563 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is other education not elsewhere classified. Digita Accounts Production Advanced 6.30.9574.0 true 08064563 2023-06-01 2024-05-31 08064563 2024-05-31 08064563 bus:OrdinaryShareClass1 2024-05-31 08064563 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-05-31 08064563 core:CurrentFinancialInstruments 2024-05-31 08064563 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08064563 core:FurnitureFittings 2024-05-31 08064563 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 08064563 core:MotorVehicles 2024-05-31 08064563 core:OfficeEquipment 2024-05-31 08064563 bus:SmallEntities 2023-06-01 2024-05-31 08064563 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08064563 bus:FilletedAccounts 2023-06-01 2024-05-31 08064563 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08064563 bus:RegisteredOffice 2023-06-01 2024-05-31 08064563 bus:Director1 2023-06-01 2024-05-31 08064563 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 08064563 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08064563 core:Buildings 2023-06-01 2024-05-31 08064563 core:FurnitureFittings 2023-06-01 2024-05-31 08064563 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 08064563 core:MotorVehicles 2023-06-01 2024-05-31 08064563 core:OfficeEquipment 2023-06-01 2024-05-31 08064563 core:Vehicles 2023-06-01 2024-05-31 08064563 countries:EnglandWales 2023-06-01 2024-05-31 08064563 2023-05-31 08064563 core:FurnitureFittings 2023-05-31 08064563 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 08064563 core:MotorVehicles 2023-05-31 08064563 core:OfficeEquipment 2023-05-31 08064563 2022-06-01 2023-05-31 08064563 2023-05-31 08064563 bus:OrdinaryShareClass1 2023-05-31 08064563 core:CurrentFinancialInstruments 2023-05-31 08064563 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08064563 core:FurnitureFittings 2023-05-31 08064563 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 08064563 core:MotorVehicles 2023-05-31 08064563 core:OfficeEquipment 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 08064563

Edge Gain Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Edge Gain Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Edge Gain Limited

(Registration number: 08064563)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

14,441

22,423

Other financial assets

5

50,000

50,000

 

64,441

72,423

Current assets

 

Debtors

6

119,675

219,162

Cash at bank and in hand

 

1,936,060

1,803,448

 

2,055,735

2,022,610

Creditors: Amounts falling due within one year

7

(197,601)

(426,729)

Net current assets

 

1,858,134

1,595,881

Net assets

 

1,922,575

1,668,304

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,922,475

1,668,204

Shareholders' funds

 

1,922,575

1,668,304

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 

.........................................
Mr Gregory William Hodgson
Director

 

Edge Gain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3rd Floor
166 College Road
Harrow
Middlesex
HA1 1BH
England

These financial statements were authorised for issue by the Board on 13 February 2025.

2

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Edge Gain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

20% Straight Line

Fixtures and fittings

25% Straight Line

Office equipment

25% Straight Line

Electric bike

25% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Edge Gain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Electric bike
 £

Cost or valuation

At 1 June 2023

34,463

9,444

45,746

3,791

Additions

1,100

1,706

993

-

At 31 May 2024

35,563

11,150

46,739

3,791

Depreciation

At 1 June 2023

24,672

8,782

35,671

1,896

Charge for the year

4,638

715

5,480

948

At 31 May 2024

29,310

9,497

41,151

2,844

Carrying amount

At 31 May 2024

6,253

1,653

5,588

947

At 31 May 2023

9,791

662

10,075

1,895

 

Edge Gain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Total
£

Cost or valuation

At 1 June 2023

93,444

Additions

3,799

At 31 May 2024

97,243

Depreciation

At 1 June 2023

71,021

Charge for the year

11,781

At 31 May 2024

82,802

Carrying amount

At 31 May 2024

14,441

At 31 May 2023

22,423

Included within the net book value of land and buildings above is £6,253 (2023 - £9,791) in respect of freehold land and buildings.
 

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 June 2023

50,000

50,000

At 31 May 2024

50,000

50,000

Impairment

Carrying amount

At 31 May 2024

50,000

50,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

119,675

219,162

 

119,675

219,162

 

Edge Gain Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,301

4,057

Taxation and social security

119,695

180,164

Accruals and deferred income

3,090

4,390

Other creditors

72,515

238,118

197,601

426,729

8

Related party transactions

During the year, the company made the following related party transactions:

Director/Shareholders
At the balance sheet date, the amounts due to its directors was £Nil (2023: £31,234). These loans were unsecured, interest free and repayable on demand.
 

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100