Edge Of The World Limited 03315945 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is Retail Shops Digita Accounts Production Advanced 6.30.9574.0 true 03315945 2024-02-01 2025-01-31 03315945 2025-01-31 03315945 core:RetainedEarningsAccumulatedLosses 2025-01-31 03315945 core:ShareCapital 2025-01-31 03315945 core:CurrentFinancialInstruments 2025-01-31 03315945 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 03315945 core:Non-currentFinancialInstruments 2025-01-31 03315945 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 03315945 core:FurnitureFittings 2025-01-31 03315945 core:LandBuildings core:OwnedOrFreeholdAssets 2025-01-31 03315945 core:MotorVehicles 2025-01-31 03315945 bus:SmallEntities 2024-02-01 2025-01-31 03315945 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 03315945 bus:FilletedAccounts 2024-02-01 2025-01-31 03315945 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 03315945 bus:RegisteredOffice 2024-02-01 2025-01-31 03315945 bus:Director1 2024-02-01 2025-01-31 03315945 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 03315945 core:Goodwill 2024-02-01 2025-01-31 03315945 core:FurnitureFittings 2024-02-01 2025-01-31 03315945 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 03315945 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-01 2025-01-31 03315945 core:MotorVehicles 2024-02-01 2025-01-31 03315945 countries:EnglandWales 2024-02-01 2025-01-31 03315945 2024-01-31 03315945 core:FurnitureFittings 2024-01-31 03315945 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 03315945 core:MotorVehicles 2024-01-31 03315945 2023-02-01 2024-01-31 03315945 2024-01-31 03315945 core:RetainedEarningsAccumulatedLosses 2024-01-31 03315945 core:ShareCapital 2024-01-31 03315945 core:CurrentFinancialInstruments 2024-01-31 03315945 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 03315945 core:Non-currentFinancialInstruments 2024-01-31 03315945 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 03315945 core:FurnitureFittings 2024-01-31 03315945 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-31 03315945 core:MotorVehicles 2024-01-31 iso4217:GBP xbrli:pure

Registration number: 03315945

Edge Of The World Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 January 2025

 

Edge Of The World Limited

(Registration number: 03315945)
Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

908,817

456,751

Current assets

 

Stocks

5

-

94,980

Debtors

6

651,035

681,655

Cash at bank and in hand

 

156,450

398,046

 

807,485

1,174,681

Creditors: Amounts falling due within one year

7

(465,342)

(565,343)

Net current assets

 

342,143

609,338

Total assets less current liabilities

 

1,250,960

1,066,089

Creditors: Amounts falling due after more than one year

7

(235,548)

(145,069)

Provisions for liabilities

(189,856)

(89,583)

Net assets

 

825,556

831,437

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

825,456

831,337

Shareholders' funds

 

825,556

831,437

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 11 August 2025
 

 

Edge Of The World Limited

(Registration number: 03315945)
Statement of Financial Position as at 31 January 2025

.........................................
Mr A S North
Director

 

Edge Of The World Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Merchant House, Market Square, Kirby Lonsdale, Cumbria, LA6 2AN. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

 

Edge Of The World Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% on the reducing balance or straight line over the initial lease period

Motor Vehicles

33% on the reducing balance

Amortisation

Asset class

Amortisation method and rate

Goodwill

Straight Line over 5 years

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Edge Of The World Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 50 (2024 - 53).

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

110,000

1,304,384

12,435

1,426,819

Additions

-

559,619

-

559,619

Disposals

-

(122,349)

-

(122,349)

At 31 January 2025

110,000

1,741,654

12,435

1,864,089

Depreciation

At 1 February 2024

2,000

956,331

11,737

970,068

Charge for the year

400

106,639

233

107,272

Eliminated on disposal

-

(122,068)

-

(122,068)

At 31 January 2025

2,400

940,902

11,970

955,272

Carrying amount

At 31 January 2025

107,600

800,752

465

908,817

At 31 January 2024

108,000

348,053

698

456,751

Included within the net book value of land and buildings above is £107,600 (2024 - £108,000) in respect of freehold land and buildings.
 

5

Stocks

2025
£

2024
£

Finished goods and goods for resale

-

94,980

6

Debtors

 

Edge Of The World Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Note

2025
£

2024
£

Trade debtors

 

90,536

30,971

Amounts owed by group undertakings and undertakings in which the company has a participating interest

511,996

613,398

Prepayments

 

48,253

37,286

Other debtors

 

250

-

   

651,035

681,655

Less non-current portion

 

(500,000)

(600,000)

 

151,035

81,655

Details of non-current trade and other debtors

£500,000 (2024 -£600,000) of Amounts owed by related parties is classified as non current.

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Bank loans and overdrafts

8

60,000

60,000

Trade creditors

 

79,970

102,201

Taxation and social security

 

17,252

104,502

Accruals and deferred income

 

23,708

20,607

Other creditors

 

284,412

278,033

 

465,342

565,343

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Loans and borrowings

8

235,548

145,069

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

85,039

145,069

Other borrowings

150,509

-

235,548

145,069

Current loans and borrowings

2025
£

2024
£

Bank borrowings

60,000

60,000