Edge Medical Ltd - Accounts to registrar (filleted) - small 18.2

Edge Medical Ltd - Accounts to registrar (filleted) - small 18.2

EDGE MEDICAL LTD - Company Information

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REGISTERED NUMBER: 07884317 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

EDGE MEDICAL LTD
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EDGE MEDICAL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2018







DIRECTOR: M P Vujovich





REGISTERED OFFICE: 500 Styal Road
Manchester
M22 5HQ





REGISTERED NUMBER: 07884317 (England and Wales)





ACCOUNTANTS: Sedulo Accountants Limited
Chartered Certified Accountants
62-66 Deansgate
Manchester
M3 2EN
Page 1
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

BALANCE SHEET
31 DECEMBER 2018

31.12.18 31.12.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 110,419 116,054

CURRENT ASSETS
Stocks 123,058 126,000
Debtors 5 743,749 602,354
Cash at bank 117,447 65,681
984,254 794,035
CREDITORS
Amounts falling due within one year 6 622,180 610,162
NET CURRENT ASSETS 362,074 183,873
TOTAL ASSETS LESS CURRENT
LIABILITIES
472,493
299,927

PROVISIONS FOR LIABILITIES 18,000 -
NET ASSETS 454,493 299,927

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 454,393 299,827
454,493 299,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2 continued...
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

BALANCE SHEET - continued
31 DECEMBER 2018


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 Income Statement has not been delivered.

The financial statements were approved by the director on 18 September 2019 and were signed by:





M P Vujovich - Director


The notes form part of these financial statements

Page 3
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018


1. STATUTORY INFORMATION

Edge Medical 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary
amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

Page 4 continued...
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other Financial Instruments Issues' of FRS102 to all of its financial statements.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is
a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to
realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which includes 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 present
value of the future receipts discounted at a market rate of interest. Financial asserts classified as receivable
within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of
the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares that are classified as debt, 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 payments
discounted at a market rate of interest. Financial liabilities classified as payable within one year are not
amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of
business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year
or less, if not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction
price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Page 5 continued...
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018


2. ACCOUNTING POLICIES - continued
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 year 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2018 259,578
Additions 27,288
At 31 December 2018 286,866
DEPRECIATION
At 1 January 2018 143,524
Charge for year 32,923
At 31 December 2018 176,447
NET BOOK VALUE
At 31 December 2018 110,419
At 31 December 2017 116,054

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Trade debtors 622,478 583,356
Other debtors 121,271 18,998
743,749 602,354

Page 6 continued...
EDGE MEDICAL LTD (REGISTERED NUMBER: 07884317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2018


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.18 31.12.17
£    £   
Trade creditors 294,915 261,564
Amounts owed to group undertakings - 279,484
Taxation and social security 38,913 56,670
Other creditors 288,352 12,444
622,180 610,162

Page 7