IRIS Accounts Production v24.3.2.46 06302163 director 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063021632023-12-31063021632024-12-31063021632024-01-012024-12-31063021632022-12-31063021632023-01-012023-12-31063021632023-12-3106302163ns15:EnglandWales2024-01-012024-12-3106302163ns14:PoundSterling2024-01-012024-12-3106302163ns10:Director12024-01-012024-12-3106302163ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3106302163ns10:SmallEntities2024-01-012024-12-3106302163ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3106302163ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3106302163ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3106302163ns10:FullAccounts2024-01-012024-12-310630216312024-01-012024-12-3106302163ns10:CompanySecretary12024-01-012024-12-3106302163ns10:RegisteredOffice2024-01-012024-12-3106302163ns5:CurrentFinancialInstruments2024-12-3106302163ns5:CurrentFinancialInstruments2023-12-3106302163ns5:ShareCapital2024-12-3106302163ns5:ShareCapital2023-12-3106302163ns5:RetainedEarningsAccumulatedLosses2024-12-3106302163ns5:RetainedEarningsAccumulatedLosses2023-12-3106302163ns5:NetGoodwill2024-01-012024-12-3106302163ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-3106302163ns5:LeaseholdImprovements2024-01-012024-12-3106302163ns5:PlantMachinery2024-01-012024-12-3106302163ns5:FurnitureFittings2024-01-012024-12-3106302163ns5:MotorVehicles2024-01-012024-12-3106302163ns5:NetGoodwill2023-12-3106302163ns5:NetGoodwill2024-12-3106302163ns5:NetGoodwill2023-12-3106302163ns5:LeaseholdImprovements2023-12-3106302163ns5:PlantMachinery2023-12-3106302163ns5:FurnitureFittings2023-12-3106302163ns5:MotorVehicles2023-12-3106302163ns5:LeaseholdImprovements2024-12-3106302163ns5:PlantMachinery2024-12-3106302163ns5:FurnitureFittings2024-12-3106302163ns5:MotorVehicles2024-12-3106302163ns5:LeaseholdImprovements2023-12-3106302163ns5:PlantMachinery2023-12-3106302163ns5:FurnitureFittings2023-12-3106302163ns5:MotorVehicles2023-12-3106302163ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-3106302163ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3106302163ns5:DeferredTaxation2023-12-3106302163ns5:DeferredTaxation2024-01-012024-12-3106302163ns5:DeferredTaxation2024-12-31
REGISTERED NUMBER: 06302163 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Edwards of Conwy Ltd

Edwards of Conwy Ltd (Registered number: 06302163)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Edwards of Conwy Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTOR: I G Edwards





SECRETARY: Mrs C Edwards





REGISTERED OFFICE: 18 High Street
Conwy
LL32 8DE





REGISTERED NUMBER: 06302163 (England and Wales)





ACCOUNTANTS: Pareto Tax & Wealth LLP
The Old Schoolhouse
5-7 Byrom Street
Manchester
M3 4PF

Edwards of Conwy Ltd (Registered number: 06302163)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 217,200 271,500
Tangible assets 5 73,909 89,165
291,109 360,665

CURRENT ASSETS
Stocks 54,727 50,085
Debtors 6 62,843 41,582
Cash at bank 559,315 398,608
676,885 490,275
CREDITORS
Amounts falling due within one year 7 215,483 186,067
NET CURRENT ASSETS 461,402 304,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

752,511

664,873

PROVISIONS FOR LIABILITIES 8 13,023 15,640
NET ASSETS 739,488 649,233

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 739,388 649,133
SHAREHOLDERS' FUNDS 739,488 649,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Edwards of Conwy Ltd (Registered number: 06302163)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 March 2025 and were signed by:





I G Edwards - Director


Edwards of Conwy Ltd (Registered number: 06302163)

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

1. STATUTORY INFORMATION

Edwards of Conwy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents invoiced sales of goods despatched, excluding value added tax. Sales are recognised at the point of despatch.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 15 years
Plant and machinery - 12.5% on cost
Fixtures and fittings - 12.5% on cost
Motor vehicles - 10% - 33% on cost

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes direct expenditure on packaging materials and ingredients.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Edwards of Conwy Ltd (Registered number: 06302163)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 1,086,000
AMORTISATION
At 1 January 2024 814,500
Charge for year 54,300
At 31 December 2024 868,800
NET BOOK VALUE
At 31 December 2024 217,200
At 31 December 2023 271,500

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 67,071 244,498 420,258 28,305 760,132
Additions - 896 1,799 - 2,695
At 31 December 2024 67,071 245,394 422,057 28,305 762,827
DEPRECIATION
At 1 January 2024 43,800 188,028 410,834 28,305 670,967
Charge for year 4,471 11,249 2,231 - 17,951
At 31 December 2024 48,271 199,277 413,065 28,305 688,918
NET BOOK VALUE
At 31 December 2024 18,800 46,117 8,992 - 73,909
At 31 December 2023 23,271 56,470 9,424 - 89,165

Edwards of Conwy Ltd (Registered number: 06302163)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 41,900 26,838
Directors' current accounts 7,932 3,982
VAT 7,100 6,305
Prepayments 5,911 4,457
62,843 41,582

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 96,148 82,784
Tax 62,555 47,546
Social security and other taxes 9,450 9,396
Other creditors 7,493 6,035
Amount due from related undertaking 9,050 9,854
Accrued expenses 30,787 30,452
215,483 186,067

8. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax 13,023 15,640

Deferred
tax
£   
Balance at 1 January 2024 15,640
Utilised during year (2,617 )
Balance at 31 December 2024 13,023

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At 31st December 2024, I G Edwards owed the company £7,932 (2023: £3,982). The loan is repayable on demand and no interest has been charged in the year (2023: £Nil).

10. RELATED PARTY DISCLOSURES

During the year the company purchased goods to the value of £133,554 (2023: £129,097) from and sold goods to the value of £1,785 (2023: £2,509) to The Traditional Welsh Sausage Company Limited, a company owned by I G Edwards, the director of the company. At 31st December 2024, the company owed £9,050 (2023: £9,854) to The Traditional Welsh Sausage Company Limited. Both sales and purchases were made on a normal trading basis.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by I G Edwards, the director and majority shareholder.