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Company registration number: 09308190
EDK Trading Ltd (formerly known as Cadfolio Limited)
Unaudited filleted financial statements
30 November 2024
EDK Trading Ltd (formerly known as Cadfolio Limited)
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
EDK Trading Ltd (formerly known as Cadfolio Limited)
Directors and other information
Directors Mr Ryan Edkins
Company number 09308190
Registered office Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
Accountants Murphy Collins Limited
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
EDK Trading Ltd (formerly known as Cadfolio Limited)
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of EDK Trading Ltd (formerly known as Cadfolio Limited)
Year ended 30 November 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EDK Trading Ltd (formerly known as Cadfolio Limited) for the year ended 30 November 2024 which comprise the statement of financial position, statement of changes in equity and related notes 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 /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of EDK Trading Ltd (formerly known as Cadfolio Limited), as a body, in accordance with the terms of our engagement letter dated 12 November 2014. Our work has been undertaken solely to prepare for your approval the financial statements of EDK Trading Ltd (formerly known as Cadfolio Limited) and state those matters that we have agreed to state to the board of directors of EDK Trading Ltd (formerly known as Cadfolio 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 EDK Trading Ltd (formerly known as Cadfolio Limited) and its board of directors as a body for our work or for this report.
It is your duty to ensure that EDK Trading Ltd (formerly known as Cadfolio Limited) has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of EDK Trading Ltd (formerly known as Cadfolio Limited). You consider that EDK Trading Ltd (formerly known as Cadfolio 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 financial statements of EDK Trading Ltd (formerly known as Cadfolio 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 financial statements.
Murphy Collins Limited
Sovereign House
82 West Street
Rochford
Essex
SS4 1AS
11 March 2025
EDK Trading Ltd (formerly known as Cadfolio Limited)
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 7 17,744 21,707
_______ _______
17,744 21,707
Current assets
Stocks 178,081 244,997
Debtors 8 501,788 208,063
Cash at bank and in hand 110,497 235,351
_______ _______
790,366 688,411
Creditors: amounts falling due
within one year 9 ( 809,567) ( 500,766)
_______ _______
Net current (liabilities)/assets ( 19,201) 187,645
_______ _______
Total assets less current liabilities ( 1,457) 209,352
Creditors: amounts falling due
after more than one year 10 ( 9,167) ( 19,167)
Provisions for liabilities 11 ( 4,437) ( 5,427)
_______ _______
Net (liabilities)/assets ( 15,061) 184,758
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 15,161) 184,658
_______ _______
Shareholders (deficit)/funds ( 15,061) 184,758
_______ _______
For the year ending 30 November 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 March 2025 , and are signed on behalf of the board by:
Mr Ryan Edkins
Director
Company registration number: 09308190
EDK Trading Ltd (formerly known as Cadfolio Limited)
Statement of changes in equity
Year ended 30 November 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 December 2022 100 185,794 185,894
(Loss)/profit for the year 246,264 246,264
_______ _______ _______
Total comprehensive income for the year - 246,264 246,264
Dividends paid and payable ( 247,400) ( 247,400)
_______ _______ _______
Total investments by and distributions to owners - ( 247,400) ( 247,400)
_______ _______ _______
At 30 November 2023 and 1 December 2023 100 184,658 184,758
(Loss)/profit for the year ( 118,219) ( 118,219)
_______ _______ _______
Total comprehensive income for the year - ( 118,219) ( 118,219)
Dividends paid and payable ( 81,600) ( 81,600)
_______ _______ _______
Total investments by and distributions to owners - ( 81,600) ( 81,600)
_______ _______ _______
At 30 November 2024 100 ( 15,161) ( 15,061)
_______ _______ _______
EDK Trading Ltd (formerly known as Cadfolio Limited)
Notes to the financial statements
Year ended 30 November 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 Sovereign House, 82 West Street, Rochford, Essex, SS4 1AS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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 stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tax on loss/profit
Major components of tax income/expense
2024 2023
£ £
Current tax:
UK current tax income/expense ( 33,101) 73,971
_______ _______
Deferred tax:
Origination and reversal of timing differences ( 990) 3,066
_______ _______
Tax on loss/profit ( 34,091) 77,037
_______ _______
6. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 81,600 247,400
_______ _______
7. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 December 2023 4,365 33,416 37,781
Additions - 3,228 3,228
_______ _______ _______
At 30 November 2024 4,365 36,644 41,009
_______ _______ _______
Depreciation
At 1 December 2023 4,365 11,710 16,075
Charge for the year - 7,190 7,190
_______ _______ _______
At 30 November 2024 4,365 18,900 23,265
_______ _______ _______
Carrying amount
At 30 November 2024 - 17,744 17,744
_______ _______ _______
At 30 November 2023 - 21,706 21,706
_______ _______ _______
8. Debtors
2024 2023
£ £
Trade debtors 83,997 22,961
Other debtors 417,791 185,102
_______ _______
501,788 208,063
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 120,469 10,000
Trade creditors 606,694 -
Corporation tax 43,659 153,012
Social security and other taxes 3 1,190
Other creditors 38,742 336,564
_______ _______
809,567 500,766
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 9,167 19,167
_______ _______
11. Provisions
Deferred tax (note 12) Total
£ £
At 1 December 2023 5,427 5,427
Additions ( 990) ( 990)
_______ _______
At 30 November 2024 4,437 4,437
_______ _______
12. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 11) 4,437 5,427
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 4,437 5,427
_______ _______
13. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Ryan Edkins ( 183) 160,467 ( 150,675) 9,609
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Ryan Edkins 9,737 270,088 ( 280,008) ( 183)
_______ _______ _______ _______
14. Controlling party
Mr R Edkins controls the company.