27
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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
2,000,000
2,000,000
107,474
12,061
119,535
76,724
9,811
86,535
33,000
30,750
xbrli:pure
xbrli:shares
iso4217:GBP
08283399
2023-04-01
2024-03-31
08283399
2024-03-31
08283399
2023-03-31
08283399
2022-04-01
2023-03-31
08283399
2023-03-31
08283399
2022-03-31
08283399
core:NetGoodwill
2023-04-01
2024-03-31
08283399
core:FurnitureFittings
2023-04-01
2024-03-31
08283399
bus:Director1
2023-04-01
2024-03-31
08283399
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2023-04-01
2024-03-31
08283399
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2023-04-01
2024-03-31
08283399
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2023-04-01
2024-03-31
08283399
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2024-03-31
08283399
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2023-03-31
08283399
core:FurnitureFittings
2024-03-31
08283399
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2024-03-31
08283399
core:WithinOneYear
2023-03-31
08283399
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2024-03-31
08283399
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2023-03-31
08283399
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2024-03-31
08283399
core:ShareCapital
2023-03-31
08283399
core:RetainedEarningsAccumulatedLosses
2024-03-31
08283399
core:RetainedEarningsAccumulatedLosses
2023-03-31
08283399
core:FurnitureFittings
2023-03-31
08283399
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2023-04-01
2024-03-31
08283399
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2023-04-01
2024-03-31
08283399
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2024-03-31
08283399
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08283399
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2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
08283399
Edwards Veeder (UK) Limited |
|
Filleted Unaudited Financial Statements |
|
Edwards Veeder (UK) Limited |
|
Statement of Financial Position |
|
31 March 2024
Fixed assets
Tangible assets |
6 |
|
33,000 |
30,750 |
|
|
|
|
|
Current assets
Stocks |
148,292 |
|
138,937 |
Debtors |
7 |
467,306 |
|
420,695 |
Cash at bank and in hand |
31,941 |
|
18,748 |
|
--------- |
|
--------- |
|
647,539 |
|
578,380 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
420,361 |
|
345,888 |
|
--------- |
|
--------- |
Net current assets |
|
227,178 |
232,492 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
260,178 |
263,242 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
70,833 |
120,833 |
|
|
--------- |
--------- |
Net assets |
|
189,345 |
142,409 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
2,001 |
2,001 |
Profit and loss account |
|
187,344 |
140,408 |
|
|
--------- |
--------- |
Shareholders funds |
|
189,345 |
142,409 |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Edwards Veeder (UK) Limited |
|
Statement of Financial Position (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
18 December 2024
, and are signed on behalf of the board by:
A. J. Wadsworth |
A. G. Basger |
Director |
Director |
|
|
L. D. Lederberg |
E. B. Edwards |
Director |
Director |
|
|
Company registration number:
08283399
Edwards Veeder (UK) Limited |
|
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Broadgate, Broadway Business PArk, Chadderton, Oldham, OL9 XA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, for the company's principle activity, exclusive of Value Added Tax.
Income tax
Deferred taxation is provided using the liability method on all timing differences, including those relating to pensions, which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse. Advance corporation tax which is expected to be recoverable in the future is deducted from the deferred taxation balance.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwil |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
27
(2023:
26
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 April 2023 and 31 March 2024 |
2,000,000 |
|
------------ |
Amortisation |
|
At 1 April 2023 and 31 March 2024 |
2,000,000 |
|
------------ |
Carrying amount |
|
At 31 March 2024 |
– |
|
------------ |
At 31 March 2023 |
– |
|
------------ |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Total |
|
£ |
£ |
Cost |
|
|
At 1 April 2023 |
107,474 |
107,474 |
Additions |
12,061 |
12,061 |
|
--------- |
--------- |
At 31 March 2024 |
119,535 |
119,535 |
|
--------- |
--------- |
Depreciation |
|
|
At 1 April 2023 |
76,724 |
76,724 |
Charge for the year |
9,811 |
9,811 |
|
--------- |
--------- |
At 31 March 2024 |
86,535 |
86,535 |
|
--------- |
--------- |
Carrying amount |
|
|
At 31 March 2024 |
33,000 |
33,000 |
|
--------- |
--------- |
At 31 March 2023 |
30,750 |
30,750 |
|
--------- |
--------- |
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
330,186 |
363,022 |
Other debtors |
137,120 |
57,673 |
|
--------- |
--------- |
|
467,306 |
420,695 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
41,667 |
41,667 |
Trade creditors |
43,027 |
33,047 |
Corporation tax |
143,194 |
102,072 |
Social security and other taxes |
126,891 |
128,600 |
Other creditors |
65,582 |
40,502 |
|
--------- |
--------- |
|
420,361 |
345,888 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
70,833 |
120,833 |
|
-------- |
--------- |
|
|
|
10.
Directors' advances, credits and guarantees
At the year-end included in debtors was a balance of £96,479 (2023 £18,533)due from the directors. This amount was interest free and repayable on demand and repaid within 9 months of the year-end. At the year-end included in creditors was a balance of £0 (2023 £981) due to the directors. This amount was interest free, repayable on demand.
11.
Related party transactions
The company was under the control of
E. B. Edwards
, A.J. Wadsworth, L.D. Lederberg and A.G. Basger throughout the current year and previous period. E.B. Edwards, A.J. Wadsworth, L.D. Lederberg and A.G. Basger are directors' and majority shareholders. During the year dividends of £3855,000 were paid to the directors.