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REGISTERED NUMBER: 05429980 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

EDGEWORTH & CO LIMITED

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EDGEWORTH & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: T C Edgeworth
Mrs J K Edgeworth
D Edgeworth





SECRETARY: Mrs J K Edgeworth





REGISTERED OFFICE: 40 Palace Chambers
London Road
Stroud
Gloucestershire
GL5 2AJ





REGISTERED NUMBER: 05429980 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,407 8,909
7,407 8,909

CURRENT ASSETS
Stocks 45,785 20,300
Debtors 6 1,376,678 1,412,051
Cash at bank 1,282 1,258
1,423,745 1,433,609
CREDITORS
Amounts falling due within one year 7 1,287,703 1,216,566
NET CURRENT ASSETS 136,042 217,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,449

225,952

CREDITORS
Amounts falling due after more than one
year

8

9,581

19,377
NET ASSETS 133,868 206,575

CAPITAL AND RESERVES
Called up share capital 100,001 100,001
Retained earnings 33,867 106,574
SHAREHOLDERS' FUNDS 133,868 206,575

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

BALANCE SHEET - continued
30 JUNE 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





D Edgeworth - Director


EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Edgeworth & Co Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provision of section 1A "Small entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents the invoiced value of services provided during the year, stated net of Value Added Tax.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. The specific method used to recognise revenue earned by the company is set out below:

Revenue from contracts is recognised by reference to the stage of completion of contract activity at the balance sheet date. This is normally determined by the proportion that the contract costs incurred to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. If the nature of a particular contract means that costs incurred do not accurately reflect the progress of contract activity, an alternative approach is used such as the achievement of pre-determined contract milestones.

Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably assessed. On all contracts, full provision is made for any losses in the year in which they are first foreseen.

Revenue from services provided on a short-term or one-off basis is recognised when the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Operating lease and hire purchase commitments
Rentals paid under opening leases are charged to the profit and loss accounts on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives.

The interest element of those obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
Due to the economic conditions surrounding housebuilding that many others in this sector are experiencing, at the date of signing the accounts the company is reliant upon the continuing support of the directors. The directors believe the going concern basis of preparing the financial statements to be appropriate as the company has signed contracts to cover future work and has completed a cost reduction exercise during the current year.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 250,000
AMORTISATION
At 1 July 2023
and 30 June 2024 250,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 31,816 15,965 37,355 85,136
Additions 320 - - 320
At 30 June 2024 32,136 15,965 37,355 85,456
DEPRECIATION
At 1 July 2023 26,606 15,403 34,218 76,227
Charge for year 1,084 111 627 1,822
At 30 June 2024 27,690 15,514 34,845 78,049
NET BOOK VALUE
At 30 June 2024 4,446 451 2,510 7,407
At 30 June 2023 5,210 562 3,137 8,909


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Trade debtors 737,092 885,816
Provision for doubtful debts (49,576 ) (143,937 )
Amounts recoverable on contracts 326,600 395,250
Other debtors 104,630 88,458
Directors' loan accounts 176,924 134,954
VAT 73,849 35,432
Prepayments 7,159 16,078
1,376,678 1,412,051

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank overdrafts 569,814 635,069
Trade creditors 591,795 422,212
Corporation tax 33,263 27,828
Social security and other taxes 37,722 34,270
Pension 1,634 1,690
Other creditors 53,475 95,497
1,287,703 1,216,566

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 9,581 19,377

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
as restated
£    £   
Bank overdrafts 559,466 624,421
Bank loans 19,929 30,025
579,395 654,446

Debenture including fixed charge over all present freehold and leasehold property; first fixed charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and first floating charge over all assets and undertaking, both present and future, dated 19 September 2005.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
as restated
£    £   
T C Edgeworth
Balance outstanding at start of year 20,651 (409 )
Amounts advanced 35,324 35,319
Amounts repaid (27,896 ) (14,259 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,079 20,651

EDGEWORTH & CO LIMITED (REGISTERED NUMBER: 05429980)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

D Edgeworth
Balance outstanding at start of year 94,549 (304 )
Amounts advanced 77,927 123,684
Amounts repaid (23,633 ) (28,831 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 148,843 94,549

Mrs J K Edgeworth
Balance outstanding at start of year 19,753 (941 )
Amounts advanced 1,641 34,332
Amounts repaid (21,394 ) (13,638 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,753

Interest is being charged at the HM Revenue & Customs official rate where necessary and there are no set repayment terms.

11. FINANCIAL COMMITMENTS

The company had total commitments at the year end of £86,181.