Company Registration No. 09987276 (England and Wales)
EDWARD 25 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
PAGES FOR FILING WITH REGISTRAR
EDWARD 25 LIMITED
BALANCE SHEET
AS AT 28 FEBRUARY 2018
28 February 2018
1
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,715
450
Current assets
Debtors
4
11,046
5,959
Cash at bank and in hand
6,508
1,482
17,554
7,441
Creditors: amounts falling due within one year
5
(14,683)
(14,092)
Net current assets/(liabilities)
2,871
(6,651)
Total assets less current liabilities
7,586
(6,201)
Provisions for liabilities
(896)
-
Net assets/(liabilities)
6,690
(6,201)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
6,688
(6,203)
Total equity
6,690
(6,201)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
EDWARD 25 LIMITED
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2018
28 February 2018
2
The financial statements were approved and signed by the director and authorised for issue on 28 November 2018
Mr D Tot
Director
Company Registration No. 09987276
EDWARD 25 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2018
3
1
Accounting policies
Company information
Edward 25 Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% straight line
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand
and
deposits held at call with banks
.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
EDWARD 25 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
1
Accounting policies (Continued)
4
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017: 1).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2017 and 28 February 2018
6,471
Depreciation and impairment
At 1 March 2017
-
Depreciation charged in the year
1,756
At 28 February 2018
1,756
Carrying amount
At 28 February 2018
4,715
At 28 February 2017
450
EDWARD 25 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2018
5
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
11,046
5,959
5
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
677
-
Other creditors
14,006
14,092
14,683
14,092
6
Related party transactions
During the year the director repaid the overdrawn director's loan account balance of £952 that was outstanding at 28 February 2017.