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Registered number: SC611228










EDGE TECHNOLOGIES LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

 
EDGE TECHNOLOGIES LIMITED
 

COMPANY INFORMATION


Directors
Mr G Davie 
Mr R Hamilton 
Mr A Kassab 
Mr S Beattie 




Company secretary
Mr R Hamilton



Registered number
SC611228



Registered office
Unit 14 City Quay
Dundee

DD1 3JA




Accountants
EQ Accountants Limited
Chartered Accountants

14 City Quay

Dundee

DD1 3JA





 
EDGE TECHNOLOGIES LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9

 
EDGE TECHNOLOGIES LIMITED
REGISTERED NUMBER: SC611228

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 5 
391
711

  
391
711

Current assets
  

Stocks
  
90,841
135,967

Debtors: amounts falling due after more than one year
 6 
13,750
13,750

Debtors: amounts falling due within one year
 6 
77,739
93,068

Cash at bank and in hand
  
108,906
8,592

  
291,236
251,377

Creditors: amounts falling due within one year
 7 
(437,148)
(388,853)

Net current liabilities
  
 
 
(145,912)
 
 
(137,476)

Total assets less current liabilities
  
(145,521)
(136,765)

Creditors: amounts falling due after more than one year
 8 
(11,294)
(21,595)

  

Net liabilities
  
(156,815)
(158,360)


Capital and reserves
  

Called up share capital 
 9 
4,148
4,148

Share premium account
  
445,872
445,872

Profit and loss account
  
(606,835)
(608,380)

  
(156,815)
(158,360)

Page 1

 
EDGE TECHNOLOGIES LIMITED
REGISTERED NUMBER: SC611228

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 21 July 2025.




Mr G Davie
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Edge Technologies Limited is a private company, limited by shares, domiciled in Scotland with registration number SC611228. The registered office is Unit 14 City Quay, Dundee, DD1 3JA. The trading address is Unit 8 Harlaw Way, Harlaw Industrial Estate, Inverurie, Aberdeenshire, AB51 4SG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

As at 31 October 2024 the Statement of Financial Position reports a net liability position. The company can only continue to operate with the support of the directors, who have confirmed that they will financially support the company for the forseeable future. Therefore, the company will continue to adopt the going concern basis for the preperation of the financial statements. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Where the company claims for research and development tax relief, the benefit is only recognised within the financial statements once the claim has been submitted and approved by HM Revenue & Customs.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 4

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight line & reducing balance method..

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
20%
Straight line
Other fixed assets
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2023 - 6).

Page 6

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Intangible assets




Patents

£



Cost


At 1 November 2023
10,240



At 31 October 2024

10,240



Amortisation


At 1 November 2023
10,240



At 31 October 2024

10,240



Net book value



At 31 October 2024
-



At 31 October 2023
-




5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 November 2023
5,879
2,045
2,099
10,023



At 31 October 2024

5,879
2,045
2,099
10,023



Depreciation


At 1 November 2023
5,418
1,886
2,008
9,312


Charge for the year on owned assets
194
57
69
320



At 31 October 2024

5,612
1,943
2,077
9,632



Net book value



At 31 October 2024
267
102
22
391



At 31 October 2023
461
159
91
711

Page 7

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
13,750
13,750

13,750
13,750


2024
2023
£
£

Due within one year

Trade debtors
63,912
1,440

Other debtors
8,777
5,555

Prepayments and accrued income
5,050
15,925

Tax recoverable
-
70,148

77,739
93,068



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,225
9,973

Trade creditors
22,748
28,880

Other taxation and social security
6,033
4,084

Other creditors
395,270
339,900

Accruals and deferred income
2,872
6,016

437,148
388,853



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,294
21,595

11,294
21,595


Page 8

 
EDGE TECHNOLOGIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,148 (2023 - 4,148) Ordinary shares of £1.00 each
4,148
4,148



Page 9