Edgecumbe Securities Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00564677 (England and Wales)

Unaudited Financial Statements

for the Year Ended 5 April 2019

for

EDGECUMBE SECURITIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J K Lewis

E K Muggridge

SECRETARY:

E K Muggridge

REGISTERED OFFICE:

Ground Floor

Southfield House

2 Southfield Road

Westbury-on-Trym

Bristol

BS9 3BH

REGISTERED NUMBER:

00564677 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6 - 8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

348

409

CURRENT ASSETS

Debtors

5

2,949,778

2,207,257

Cash at bank

532,496

726,114

3,482,274

2,933,371

CREDITORS

Amounts falling due within one year

6

88,040

101,037

NET CURRENT ASSETS

3,394,234

2,832,334

TOTAL ASSETS LESS CURRENT LIABILITIES

3,394,582

2,832,743

CAPITAL AND RESERVES

Called up share capital

7

279,500

238,684

Share premium

1,811,907

1,352,727

Retained earnings

1,303,175

1,241,332

SHAREHOLDERS' FUNDS

3,394,582

2,832,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors on 2 January 2020 and were signed on its behalf by:

J K Lewis - Director

1.	COMPANY INFORMATION

Edgecumbe Securities Limited 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 the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

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 £.

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Turnover

Turnover represents interest receivable from the provision of hire purchase and finance facilities and property

management fees. Interest is calculated on a monthly basis and invoiced up to the period end date. Property

management fees are invoiced annually and allocated to the periods to which they relate.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

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. Financial instruments are

recognised 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, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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.

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

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 6 April 2018

and 5 April 2019

1,310

DEPRECIATION

At 6 April 2018

901

Charge for year

61

At 5 April 2019

962

NET BOOK VALUE

At 5 April 2019

348

At 5 April 2018

409

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Trade debtors

2,885,997

2,153,963

Other debtors

33,419

20,510

Directors' current accounts

1,100

1,000

Prepayments and accrued income

29,262

31,784

2,949,778

2,207,257

Included within trade debtors is a balance of £2,757,992 (2018: £2,125,685) which is due in more than one

year.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.19

5.4.18

£

£

Trade creditors

186

983

Corporation tax

20,522

16,869

Social security and other taxes

533

-

Other creditors

61,999

72,965

Directors' current accounts

-

5,900

Accruals and deferred income

4,800

4,320

88,040

101,037

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

5.4.19

5.4.18

value:

£

£

262,500

Ordinary

£1

262,500

221,684

12,000

10% Preference

£1

12,000

12,000

5,000

Ordinary A

£1

5,000

5,000

279,500

238,684

During the year 40,816 ordinary £1 shares were issued for the total consideration of £500,000.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 5 April 2019 and the period

ended 5 April 2018:

5.4.19

5.4.18

£

£

J K Lewis

Balance outstanding at start of year

1,000

396

Amounts advanced

1,100

1,000

Amounts repaid

(1,000

)

(396

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,100

1,000