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COMPANY REGISTRATION NUMBER: 02852735
The Edington Station Yard Limited
Filleted Unaudited Financial Statements
31 December 2024
The Edington Station Yard Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,539,597
940,634
Current assets
Debtors
6
3,091
37,081
Investments
7
157,555
150,000
Cash at bank and in hand
341,496
328,058
---------
---------
502,142
515,139
Creditors: amounts falling due within one year
8
123,119
144,375
---------
---------
Net current assets
379,023
370,764
------------
------------
Total assets less current liabilities
1,918,620
1,311,398
Provisions
Taxation including deferred tax
158,893
18,170
------------
------------
Net assets
1,759,727
1,293,228
------------
------------
Capital and reserves
Called up share capital
116,300
116,300
Share premium account
48,900
48,900
Fair Value reserve
1,054,150
595,804
Repairs & Maintenance reserve
100,000
100,000
Profit and loss account
440,377
432,224
------------
------------
Shareholders funds
1,759,727
1,293,228
------------
------------
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.
For the year ending 31 December 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 .
The Edington Station Yard Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 14 March 2025 , and are signed on behalf of the board by:
Mr S McGregor-Johnson
Director
Company registration number: 02852735
The Edington Station Yard Limited
Notes to the Financial Statements
Year ended 31 December 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 Enterprise House, Timbrell Street, Trowbridge, Wiltshire, BA14 8PL.
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.
Trade debtors
Trade debtors are amounts due from clients for rent and services provided in the ordinary course of business. Trade debtors are recognised at the transaction price.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are recognised at the transaction price.
Share capital
Ordinary shares and Ordinary B shares are classified as equity. Equity instruments are measured at the fair value of the cash received.
Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable during the year, exclusive of Value Added Tax. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
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. Investment properties are measured at fair value at each reporting date with changes in fair value 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:
Equipment
-
10% on cost
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 4 ).
5. Tangible assets
Investment Property (Freehold)
Equipment
Total
£
£
£
Valuation/Cost
At 1 January 2024
940,000
3,040
943,040
Revaluations
599,042
599,042
------------
-------
------------
At 31 December 2024
1,539,042
3,040
1,542,082
------------
-------
------------
Depreciation
At 1 January 2024
2,406
2,406
Charge for the year
79
79
------------
-------
------------
At 31 December 2024
2,485
2,485
------------
-------
------------
Carrying amount
At 31 December 2024
1,539,042
555
1,539,597
------------
-------
------------
At 31 December 2023
940,000
634
940,634
------------
-------
------------
An independent valuation was carried out on 24 December 2024 by a professional valuer, resulting in the open market value at that date being £1,539,042. The historical cost of Investment Property (Freehold) is £574,598.
2024 2023
£ £
Property Historical Cost 574,598 574,598
Revaluation 964,444 365,402
------------ ---------
As above 1,539,042 940,000
------------ ---------
2024 2023
£ £
Fair Value reserve brought forward 595,804 595,804
Revaluation 599,042
Deferred tax on revaluation (140,696)
------------ ---------
Fair Value reserve carried forward 1,054,150 595,804
------------ ---------
6. Debtors
2024
2023
£
£
Trade debtors
3,091
30,553
Other debtors
6,528
-------
--------
3,091
37,081
-------
--------
7. Investments
2024
2023
£
£
Other investments
157,555
150,000
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
50,000
50,540
Corporation tax
9,867
22,980
Social security and other taxes
7,280
11,955
Other creditors
55,972
58,900
---------
---------
123,119
144,375
---------
---------
Other creditors include:
2024 2023
£ £
Tenants Deposits Held 36,770 34,248
Income Received in Advance 4,152 7,882
Accrued Expenses 3,050 3,170
Net Wages Payable 12,000 13,600
-------- --------
Total 55,972 58,900
-------- --------