Company registration number 10194990 (England and Wales)
EDX LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EDX LTD
COMPANY INFORMATION
Director
Mr T W East
Company number
10194990
Registered office
20 The Street
Wittersham
Tenterden
Kent
England
TN30 7ED
Accountants
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
United Kingdom
ME10 5BH
EDX LTD
CONTENTS
Page
Director's report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 7
EDX LTD
DIRECTOR'S REPORT
FOR THE YEAR ENDED 26 SEPTEMBER 2024
- 1 -
The director presents his annual report and financial statements for the year ended 26 September 2024.
Principal activities
The principal activity of the company continued to be that of air conditioning engineers.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr T W East
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr T W East
Director
16 May 2025
EDX LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDX LTD FOR THE YEAR ENDED 26 SEPTEMBER 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of EDX Ltd for the year ended 26 September 2024 which comprise, the balance sheet and the 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 https://www.icaew.com/regulation.
This report is made solely to the board of directors of EDX Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of EDX Ltd and state those matters that we have agreed to state to the board of directors of EDX Ltd, 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 EDX Ltd and its board of directors as a body, for our work or for this report.
It is your duty to ensure that EDX Ltd 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 profit of EDX Ltd. You consider that EDX Ltd 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 EDX Ltd. 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.
Xeinadin South East Limited
12 Conqueror Court
Sittingbourne
Kent
ME10 5BH
United Kingdom
16 May 2025
EDX LTD
BALANCE SHEET
AS AT
26 SEPTEMBER 2024
26 September 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
34,576
38,081
Current assets
Stocks
44,389
63,956
Debtors
4
67,545
48,907
Cash at bank and in hand
281,559
180,540
393,493
293,403
Creditors: amounts falling due within one year
5
(121,071)
(87,333)
Net current assets
272,422
206,070
Total assets less current liabilities
306,998
244,151
Creditors: amounts falling due after more than one year
6
(2,688)
(6,719)
Provisions for liabilities
(8,198)
(9,520)
Net assets
296,112
227,912
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
296,111
227,911
Total equity
296,112
227,912
EDX LTD
BALANCE SHEET (CONTINUED)
AS AT
26 SEPTEMBER 2024
26 September 2024
- 4 -
For the financial year ended 26 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 16 May 2025
Mr T W East
Director
Company registration number 10194990 (England and Wales)
EDX LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 26 SEPTEMBER 2024
- 5 -
1
Accounting policies
Company information
EDX Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 20 The Street, Wittersham, Tenterden, Kent, England, TN30 7ED.
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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
These financial statements for the year ended 26 September 2024 are the first financial statements of EDX Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 27 September 2022. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
15% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
EDX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 26 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
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.
1.7
Leases
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
8
6
EDX LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 26 SEPTEMBER 2024
- 7 -
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 27 September 2023
4,006
54,387
58,393
Additions
567
8,495
9,062
Disposals
(7,999)
(7,999)
At 26 September 2024
4,573
54,883
59,456
Depreciation and impairment
At 27 September 2023
1,527
18,785
20,312
Depreciation charged in the year
430
9,713
10,143
Eliminated in respect of disposals
(5,575)
(5,575)
At 26 September 2024
1,957
22,923
24,880
Carrying amount
At 26 September 2024
2,616
31,960
34,576
At 26 September 2023
2,479
35,602
38,081
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
24,258
12,181
Other debtors
43,287
36,726
67,545
48,907
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
65,978
65,816
Corporation tax
21,711
433
Other taxation and social security
156
11,540
Other creditors
33,226
9,544
121,071
87,333
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
2,688
6,719