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Registered number: 02447431
EDAG ENGINEERING LIMITED
Financial Statements
For The Year Ended 31 December 2024
Harrisons Accountancy Ltd
Harrison House Sheep Walk
Langford Road
Biggleswade
Bedfordshire
SG18 9RB
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—5
Page 1
Statement of Financial Position
Registered number: 02447431
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 32,582 36,979
32,582 36,979
CURRENT ASSETS
Debtors 5 514,066 733,632
Cash at bank and in hand 661,958 430,689
1,176,024 1,164,321
Creditors: Amounts Falling Due Within One Year 6 (788,273 ) (772,637 )
NET CURRENT ASSETS (LIABILITIES) 387,751 391,684
TOTAL ASSETS LESS CURRENT LIABILITIES 420,333 428,663
Creditors: Amounts Falling Due After More Than One Year 7 (604,410 ) (414,814 )
NET (LIABILITIES)/ASSETS (184,077 ) 13,849
CAPITAL AND RESERVES
Called up share capital 8 550,000 550,000
Share premium account 150,000 150,000
Income Statement (884,077 ) (686,151 )
SHAREHOLDERS' FUNDS (184,077) 13,849
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Piotr Pryzybyslawski
Director
26/09/2025
The notes on pages 2 to 5 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
EDAG ENGINEERING LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 02447431 . The registered office is 1 Spencer Yard, Leamington Spa, Warwickshire, CV31 3SY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Significant judgements and estimations
Management exercises significant judgement in determining the percentage of completion for each contract. This includes assessing the total expected costs, actual costs incurred, and the nature of deliverables. Due to the complexity and bespoke nature of customer projects, these estimates are inherently uncertain and may affect the reported value of deferred income.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over the term of the lease
Plant & Machinery 20% straight line
Fixtures & Fittings 20% straight line
Computer Equipment 25% straight line
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.8. Going concern
The directors are required to prepare these financial statements on a going concern basis unless it is inappropriate to presume the company will continue in business. In satisfaction of this responsibility, the directors have considered the company's ability to meet its liabilities as they fall due for the period of at least twelve months from the signing date of the financial statements.
The directors did not identify any uncertainty that cast significant doubt about the ability of the company to continue as a going concern.
The company is dependent on funding from EDAG Engineering GmbH. The directors have made the judgement that EDAG Engineering GmbH is in a position to provide such funding. The directors have prepared forecasts from which they believe the company will be able to continue to meet its liabilities as they fall due for the foreseeable future. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis.
2.9. Income received in advance
Income received in advance is recorded as deferred revenue within current liabilities on the balance sheet. This typically arises from upfront payments made by the customers to cover anticipated costs. As contract activity progresses, turnover and related costs are recognized in proportion to the estimated stage of completion. 
The stage of completion is determined through detailed calculations for each customer project, incorporating management's estimates of total contract costs and progress to date. These estimates involve subjective assumptions and are reviewed regularly.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 19 (2023: 32)
19 32
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2024 73,155 57,947 75,846 234,900 441,848
Additions 5,642 - 1,870 6,759 14,271
Disposals (73,155 ) (57,947 ) - (169,267 ) (300,369 )
As at 31 December 2024 5,642 - 77,716 72,392 155,750
Depreciation
As at 1 January 2024 73,155 57,947 74,900 198,867 404,869
Provided during the period 313 - 626 17,729 18,668
Disposals (73,155 ) (57,947 ) - (169,267 ) (300,369 )
As at 31 December 2024 313 - 75,526 47,329 123,168
Net Book Value
As at 31 December 2024 5,329 - 2,190 25,063 32,582
As at 1 January 2024 - - 946 36,033 36,979
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 410,722 701,512
Prepayments and accrued income 24,232 17,120
Other debtors 29,855 15,000
Amounts owed by group undertakings 49,257 -
514,066 733,632
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 196,412 106,543
Bank loans and overdrafts 10,404 10,149
Other taxes and social security 35,293 27,138
VAT 158,384 111,849
Other creditors 8,333 197,923
Accruals and deferred income 296,544 169,802
Amounts owed to group undertakings 82,903 149,233
788,273 772,637
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,410 14,814
Amounts owed to group undertakings 600,000 400,000
604,410 414,814
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 550,000 550,000
9. Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of  Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
10. Ultimate Controlling Party
The immediate parent company is EDAG Engineering GmbH incorporated in Germany. The ultimate parent company and ultimate controlling party is EDAG Engineering Group AG incorporated in Switzerland. The smallest group into which EDAG Engineering Limited is consolidated is that of EDAG Engineering Group AG. The group accounts of EDAG Engineering Group AG can be obtained in the Swiss company register Zefix.
11. Audit Information
The auditor's report on the accounts of EDAG ENGINEERING LIMITED for the year ended 31 December 2024 was unqualified.
The auditor's report was signed by Amy Claire Hancock (Senior Statutory Auditor) for and on behalf of Hancock & Hastings Ltd , Statutory Auditor.
Hancock & Hastings Ltd
Suite 2 Ashton Square Business Centre
22 Ashton Square
Dunstable
LU6 3SN
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