A&R Edelman Limited
Financial Statements
For the year ended 30 June 2024
Pages for Filing with Registrar
Company Registration No. 03280816 (England and Wales)
A&R Edelman Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 6
A&R Edelman Limited
Balance Sheet
As at 30 June 2024
Page 1
2024
2023
Notes
£
£
£
£
Current assets
Debtors
2
2,544,777
2,530,073
Creditors: amounts falling due within one year
3
(84,195)
(87,893)
Net current assets
2,460,582
2,442,180
Capital and reserves
Called up share capital
4
100
100
Capital contribution reserve
293,490
293,490
Profit and loss reserves
2,166,992
2,148,590
Total equity
2,460,582
2,442,180

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

The financial statements were approved by the board of directors and authorised for issue on 21 March 2025 and are signed on its behalf by:
M J R Murphy
Director
Company Registration No. 03280816
A&R Edelman Limited
Notes to the Financial Statements
For the year ended 30 June 2024
Page 2
1
Accounting policies
Company information

A&R Edelman Limited is a private company limited by shares incorporated in England and Wales. The registered office is Francis House, 11 Francis Street, London, England, SW1P 1DE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company made a trueprofit after tax of £18,402 (2023: loss after tax of £29,170) and has net current assets of £2,460,582 (2023: £2,442,180). The directors confirm that they are satisfied that the company has adequate resources to continue in business for the foreseeable future.

 

They have considered the company's profit in the year, the net current assets, future profits projected, the company's ongoing cash requirements, the availability of cash through the group cash pooling arrangement and the written letter of support received from the ultimate parent, Daniel J. Edelman Holdings, Inc.

 

As a result of the review which includes an assessment of the ability and confirmation of the ultimate parent to provide this support, the directors are confident the company has sufficient resources to continue as a going concern for at least 12 months from the date of signing these financial statements and on this basis, they consider that it is appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover

The company recognises turnover when a) the significant risks and rewards of ownership have been transferred to the buyer; b) the company retains no continuing involvement or control over the services; c) the amount of turnover can be measured reliably; d) it is probable that future economic benefits will flow to the entity; e) and when the specific criteria relating to each of the company's sales channels have been met, as described below.

 

Turnover represents amounts receivable for services, net of value added tax and trade discounts.

 

Turnover is normally recognised at the point at which the service is provided and the value can be determined. In those instances where there is no formal arrangement in place, however the services have begun, the turnover is deferred until the arrangement is formalised. To the extent that services have been invoiced but the service has not been provided in the financial year covered by these financial statements, that turnover will be held as deferred income until the service has been provided.

 

All client work is carried out on the Company's behalf by Edelman group companies, as the Company acts the agent in this arrangement, no turnover is recognised. As the Company invoices third party clients on behalf of other group companies that provide the services, no third party costs are recognised within these financial statements.

A&R Edelman Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 3
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest rate method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

A&R Edelman Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
Page 4
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
176,690
220,190
Corporation tax recoverable
75
4,116
Amounts owed by group undertakings
2,350,685
2,287,286
Other debtors
13,737
5,923
Prepayments and accrued income
-
0
2,834
2,541,187
2,520,349
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
3,590
9,724
Total debtors
2,544,777
2,530,073
A&R Edelman Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 5
3
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
51,941
Amounts owed to group undertakings
-
0
4,100
Accruals and deferred income
84,195
31,852
Total creditors
84,195
87,893
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Esther Carder
Statutory Auditor:
Moore Kingston Smith LLP
6
Financial commitments, guarantees and contingent liabilities

The company together with certain other Edelman group companies has entered into a cash pooling arrangement with JP Morgan Chase Bank, NA. JP Morgan Chase Bank, NA has the right to apply positive cash balances of the company against indebtedness or liabilities of any of the other companies named in the agreement. The facility is limited to the amount in an overdraft agreement with JP Morgan Chase Bank, NA which is guaranteed by Daniel J. Edelman Inc.

7
Related party transactions

The company has taken advantage of the exemption as per paragraph 33.1A of FRS102, 'Related Party Disclosures', from disclosing transactions with related parties, which are wholly owned within the Daniel J. Edelman Holdings, Inc. Group.

A&R Edelman Limited
Notes to the Financial Statements (Continued)
For the year ended 30 June 2024
Page 6
8
Parent company

The company's immediate parent undertaking is Daniel J. Edelman Inc.

The directors regard the ultimate controlling party as Daniel J. Edelman Holdings, Inc., a company registered in the USA, which is the smallest and largest group to consolidate these financial statements.

 

Copies of the financial statements of both Daniel J. Edelman Inc. and Daniel J. Edelman Holdings, Inc., can be obtained from 111 N Canal Street, Suite 1100, Chicago, IL 60606, United States.

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