REGISTERED NUMBER: 04527643 (England and Wales)

Financial Statements

for the Period 1 June 2024 to 30 May 2025

for

R J Edwards & Sons Ltd

Trading as

Frederic Smart

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr D B Jenkins

Mr D N Smart

REGISTERED OFFICE:

7 Papworth Business Park

Stirling Way

Papworth Everard

Cambridge

Cambridgeshire

CB23 3GY

BUSINESS ADDRESS:

Unit 1 Lyncastle Road

Barleycastle Lane

Appleton

Warrington

Cheshire

WA4 4SN

REGISTERED NUMBER:

04527643 (England and Wales)

AUDITORS:

Freedman Frankl & Taylor

Statutory Auditors

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,211,183

1,171,203

1,211,183

1,171,203

CURRENT ASSETS

Stocks

38,767

25,315

Debtors

6

1,004,360

1,064,842

Cash at bank

200,774

233,554

1,243,901

1,323,711

CREDITORS

Amounts falling due within one year

7

(683,648

)

(930,667

)

NET CURRENT ASSETS

560,253

393,044

TOTAL ASSETS LESS CURRENT LIABILITIES

1,771,436

1,564,247

CREDITORS

Amounts falling due after more than one year

8

(384,474

)

(301,849

)

PROVISIONS FOR LIABILITIES

(221,403

)

(186,419

)

NET ASSETS

1,165,559

1,075,979

CAPITAL AND RESERVES

Called up share capital

10

1,000

1,000

Retained earnings

1,164,559

1,074,979

SHAREHOLDERS' FUNDS

1,165,559

1,075,979

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 November 2025 and were signed on its behalf by:

Mr D N Smart - Director

1.	STATUTORY INFORMATION

R J Edwards & Sons Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention and on a basis other than as a going concern.

Related party exemption

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 entities within the group.

Significant judgements and estimates

In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Key sources of estimation uncertainty

The key assumptions concerning the future, and other key sources of estimation uncertainty, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are disclosed below.

Assessing indicators of impairment

In assessing whether there have been any indicators of impairment assets, the directors have considered both external and internal sources of information such as market conditions and experience of recoverability. There have been no indicators of impairments identified during the current financial year.

Tangible fixed assets

Tangible fixed assets, are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover

Revenue comprises the fair value of consideration received or receivable for the provision of services in the ordinary course of the company's activities. Revenue is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

1. The amount of revenue can be reliably measured;

2. it is probable that future economic benefit will flow into the entity;

3. and specific criteria have been met for each of the company's activities.

Interest income

Interest income is recognised in the statement of income and retained earnings using the effective interest method.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets

Tangible fixed assets are initially recorded at cost less any tax, discounts and rebates. Cost includes the original purchase price of the asset and costs attributable to bringing the asset into its working condition for its intended use. Subsequently they are recorded at cost less accumulated depreciation and impairment.

Depreciation is provided at the following annual rates on straight line basis in order to write off each asset over its estimated useful life.

Short leasehold

- The period of the lease

Plant and machinery

- 20% on cost and 10% on cost

Fixtures and fittings

- 10% on cost

Motor vehicles

- 25% on reducing balance

Computer equipment

- 20% on cost

Impairment of fixed assets

Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Fixed assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

Where indicators exist for a decrease in an impairment loss previously recognised for assets, the prior impairment loss is tested to determine whether all or part of the impairment loss should be reversed. An impairment loss is reversed on an individual impaired asset to the extent that it does not increase the carrying amount of the asset above the carrying amount that would have been determined (net of depreciation) had no impairment been recognised.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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 the 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.

Amounts payable under operating leases are charged to the profit and loss account in the period in which they are incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The company's financial statements for the period ended 30 May 2025 have been prepared on a basis other than going concern. These financial statements have been prepared on this basis as the company ceased trading on 30 May 2025 following a group restructure on 31 May 2025. The trade of this company has been transferred to Frederic Smart Logistics Limited. This change in the basis of preparation of these financial statements has led to no material adjustments to the balance sheet at 30 May 2025.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 54 (2024 - 62 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 30 May 2025

60,000

AMORTISATION

At 1 June 2024

and 30 May 2025

60,000

NET BOOK VALUE

At 30 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 June 2024

115,229

791,853

232,204

Additions

-

128,648

-

Disposals

-

(88,150

)

-

At 30 May 2025

115,229

832,351

232,204

DEPRECIATION

At 1 June 2024

50,316

628,284

175,417

Charge for period

7,682

67,414

16,652

Eliminated on disposal

-

(83,754

)

-

At 30 May 2025

57,998

611,944

192,069

NET BOOK VALUE

At 30 May 2025

57,231

220,407

40,135

At 31 May 2024

64,913

163,569

56,787

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2024

1,196,500

156,493

2,492,279

Additions

350,479

-

479,127

Disposals

(153,850

)

-

(242,000

)

At 30 May 2025

1,393,129

156,493

2,729,406

DEPRECIATION

At 1 June 2024

328,200

138,859

1,321,076

Charge for period

275,079

4,476

371,303

Eliminated on disposal

(90,402

)

-

(174,156

)

At 30 May 2025

512,877

143,335

1,518,223

NET BOOK VALUE

At 30 May 2025

880,252

13,158

1,211,183

At 31 May 2024

868,300

17,634

1,171,203

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST

At 1 June 2024

and 30 May 2025

204,000

DEPRECIATION

Charge for period

51,000

At 30 May 2025

51,000

NET BOOK VALUE

At 30 May 2025

153,000

At 31 May 2024

204,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

573,347

693,968

Amounts owed by group undertakings

96,019

63,811

Other debtors

-

18,000

Tax

6,591

-

Prepayments

328,403

289,063

1,004,360

1,064,842

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Finance leases (see note 9)

37,934

43,746

Trade creditors

477,648

284,885

Corporation tax

-

142,128

Social security and other taxes

68,629

133,506

Other creditors

6,787

7,491

Accrued expenses

92,650

318,911

683,648

930,667

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Finance leases (see note 9)

119,278

160,254

Accruals

265,196

141,595

384,474

301,849

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases

2025

2024

£

£

Gross obligations repayable:

Within one year

47,871

55,849

Between one and five years

131,644

183,504

179,515

239,353

Finance charges repayable:

Within one year

9,937

12,103

Between one and five years

12,366

23,250

22,303

35,353

Net obligations repayable:

Within one year

37,934

43,746

Between one and five years

119,278

160,254

157,212

204,000

Non-cancellable

operating leases

2025

2024

£

£

Within one year

657,500

555,000

Between one and five years

3,287,500

2,220,000

In more than five years

721,129

1,572,500

4,666,129

4,347,500

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Financial statements prepared on a basis other than going concern

We draw attention to Note 2 to the financial statements which explains that following a Group restructure on 31 May 2025, the directors no longer intend to trade from this company, instead trade will be transferred to Frederic Smart Logistics Limited and therefore they do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in Note 2. Our opinion is not modified in respect of this matter.

S Bacall BSc (Hons) BFP FCA (Senior Statutory Auditor)

for and on behalf of Freedman Frankl & Taylor

12.	CAPITAL COMMITMENTS

2025

2024

£

£

Contracted but not provided for in the

financial statements

-

107,000

13.	SUBSEQUENT EVENTS

There was a Group restructure on 31 May 2025. Further details of this and the impact on these financial statements can be found in Note 2.

14.	ULTIMATE CONTROLLING PARTY

The company's ultimate parent undertaking is Frederic Smart & Son Limited, a company incorporated and registered in England and Wales. Copies of the financial statements of these undertakings can be obtained from 7 Papworth Business Park Stirling Way, Papworth Everard, Cambridge, CB23 3GY.