G B Edwards Limited - Period Ending 2020-08-31
G B Edwards Limited - Period Ending 2020-08-31
Registration number:
G B Edwards Limited
for the Year Ended 31 August 2020
G B Edwards Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
G B Edwards Limited
Company Information
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Director |
Mrs Penelope Ann Truscott |
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Registered office |
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G B Edwards Limited
(Registration number: 00647625)
Balance Sheet as at 31 August 2020
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Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
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( |
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Capital and reserves |
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Called up share capital |
12,500 |
12,500 |
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Other reserves |
118,437 |
118,437 |
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Profit and loss account |
(155,558) |
(154,861) |
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Shareholders' deficit |
(24,621) |
(23,924) |
For the financial year ending 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
G B Edwards Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2020
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis. The director has confirmed she will continue to support the company.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
Nil (The value has already been written down to £1) |
Investment property
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
G B Edwards Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2020
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Tangible assets |
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Plant and machinery |
Total |
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Cost or valuation |
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At 1 September 2019 |
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At 31 August 2020 |
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Depreciation |
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At 1 September 2019 |
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At 31 August 2020 |
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Carrying amount |
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At 31 August 2020 |
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At 31 August 2019 |
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Investment properties |
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2020 |
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Fair Value At 1 September 2019 and 31 August 2020 |
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The fair value of the investment property has been determined by the director. The director has considered an arm's length transaction taking account of current market conditions.
There has been no valuation of investment property by an independent valuer.
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Creditors |
Creditors: amounts falling due within one year
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2020 |
2019 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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