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Registration number: 00221288

Edwards Dining Rooms Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

(filleted for filing purposes)

 

Edwards Dining Rooms Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Financial Statements

6 to 12

 

Edwards Dining Rooms Limited

Company Information

Managing Director

P Loxton Edwards

Directors

P J Loxton Edwards

V E C Loxton Edwards

B F Loxton Edwards

Company secretary

P J Loxton Edwards

Registered office

The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Edwards Dining Rooms Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Edwards Dining Rooms Limited for the year ended 31 March 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Edwards Dining Rooms Limited, as a body, in accordance with the terms of our engagement letter dated 10 May 2018. Our work has been undertaken solely to prepare for your approval the accounts of Edwards Dining Rooms Limited and state those matters that we have agreed to state to the Board of Directors of Edwards Dining Rooms Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Edwards Dining Rooms Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Edwards Dining Rooms Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Edwards Dining Rooms Limited. You consider that Edwards Dining Rooms Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Edwards Dining Rooms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Batchelor Coop Ltd
Chartered accountants
The New Barn
Mill Lane
Eastry
Kent
CT13 0JW

28 February 2025

 

Edwards Dining Rooms Limited

(Registration number: 00221288)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

664

Investment property

5

8,992,650

9,294,340

Investments

6

2

2

 

8,992,652

9,295,006

Current assets

 

Debtors

7

70,747

71,470

Cash at bank and in hand

 

274,892

140,797

 

345,639

212,267

Creditors: Amounts falling due within one year

8

(1,694,496)

(1,726,018)

Net current liabilities

 

(1,348,857)

(1,513,751)

Total assets less current liabilities

 

7,643,795

7,781,255

Creditors: Amounts falling due after more than one year

8

(116,161)

(148,818)

Provisions for liabilities

(790,669)

(852,177)

Net assets

 

6,736,965

6,780,260

Capital and reserves

 

Called up share capital

10

17,898

17,898

Capital redemption reserve

333,226

333,226

Profit and loss account - non distributable

3,170,315

3,410,662

Retained earnings

3,215,526

3,018,474

Shareholders' funds

 

6,736,965

6,780,260

For the financial year ending 31 March 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

 

Edwards Dining Rooms Limited

(Registration number: 00221288)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................

P Loxton Edwards

Managing Director

 

Edwards Dining Rooms Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Capital redemption reserve
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 April 2023

17,898

333,226

3,410,662

3,018,474

6,780,260

Profit for the year

-

-

-

15,768

15,768

Total comprehensive income

-

-

-

15,768

15,768

Dividends

-

-

-

(59,063)

(59,063)

Transfers

-

-

(240,347)

240,347

-

At 31 March 2024

17,898

333,226

3,170,315

3,215,526

6,736,965

Share capital
£

Capital redemption reserve
£

Profit and loss account - non distributable
£

Retained earnings
£

Total
£

At 1 April 2022

17,898

333,226

3,008,461

2,821,268

6,180,853

Profit for the year

-

-

-

654,891

654,891

Dividends

-

-

-

(55,484)

(55,484)

Transfers

-

-

402,201

(402,201)

-

At 31 March 2023

17,898

333,226

3,410,662

3,018,474

6,780,260

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The New Barn Mill Lane
Eastry
Sandwich
Kent
CT13 0JW
England

These financial statements were authorised for issue by the Board on 26 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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Plant & machinery

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director using external valuers where considered necessary. The directors (and their professional advisors where utilised) use observable 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 equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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 creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

2,216

2,216

Disposals

(2,216)

(2,216)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

1,552

1,552

Eliminated on disposal

(1,552)

(1,552)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

664

664

5

Investment properties

2024
£

At 1 April

9,294,340

Fair value adjustments

(301,690)

At 31 March

8,992,650

There has been no valuation of investment property by an independent valuer.

6

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 April 2023

2

Provision

Carrying amount

At 31 March 2024

2

At 31 March 2023

2

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Holdenbridge Limited

The New Barn, Mill Lane, Eastry, Sandwich, Kent CT13 0JW

United Kingdom

Ordinary

100%

100%

Subsidiary undertakings

Holdenbridge Limited

The principal activity of Holdenbridge Limited is property investment.

7

Debtors

Current

2024
£

2023
£

Trade debtors

36,274

52,038

Prepayments

12,681

10,101

Other debtors

21,792

9,331

 

70,747

71,470

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

11

29,040

25,423

Trade creditors

 

20,534

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,460,595

1,460,595

Taxation and social security

 

3,338

1,445

Other creditors

 

180,989

238,555

 

1,694,496

1,726,018

Due after one year

 

Loans and borrowings

11

116,161

148,818

Creditors falling due within one year include bank loans and overdrafts which are secured of £29,040 (2023 - £25,423)

Creditors falling due after more than one year include bank loans and overdrafts which are secured of £116,161 (2023 - £148,818)

9

Provisions for liabilities

Deferred tax
£

Total
£

At 1 April 2023

852,177

852,177

Increase (decrease) in existing provisions

(61,508)

(61,508)

At 31 March 2024

790,669

790,669

The vast majority of the Deferred Tax provision relates to tax which would be payable if the investment properties were to be sold at their revalued amounts. This provision has been calculated at the current rate of Corporation Tax in accordance with the accounting policy.

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

2,697

2,697

2,697

2,697

Non-voting Ordinary A shares of £1 each

15,201

15,201

15,201

15,201

 

17,898

17,898

17,898

17,898

 

Edwards Dining Rooms Limited

Notes to the Financial Statements for the Year Ended 31 March 2024

11

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

116,161

148,818

2024
£

2023
£

Current loans and borrowings

Bank borrowings

29,040

25,423