Edgworth Partners Ltd Accounts

EDGWORTH PARTNERS LTD - Company Information






Edgworth Partners Ltd

	Company No. 12107462
		Information for Filing with The Registrar
		Year ended
		31 December 2021

The Directors present their report and the accounts for the year ended 31 December 2021.

Principal activities
The principal activity of the company during the year under review was activities of employment placement agencies.




Directors

The Directors who served at any time during the year were as follows:

M.A. Eadsforth
R. Patel
D. Shutt



































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

D. Shutt
Director
04 July 2022

at	31 December 2021
Company No.		12107462	Notes	2021	2020
				£	£
Fixed assets

	Tangible assets		4	5,272	2,433


				5,272	2,433
Current assets

	Debtors		5	226,030	1,517

	Cash at bank and in hand			907,731	143,517
				1,133,761	145,034
Creditors: Amount falling due within one year			6	(458,959)	(129,548)
Net current assets				674,802	15,486
Total assets less current liabilities				680,074	17,919




Net assets				680,074	17,919

Capital and reserves
	Called up share capital		8	300	100

	Share based payment reserve		10	2,400	-

	Profit and loss account			677,374	17,819

Total equity				680,074	17,919



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 04 July 2022
And signed on its behalf by:
D. Shutt
Director
04 July 2022

for the year ended 31 December 2021

General information

Its registered number is: 12107462

Its registered office is:

20 King Street

London

EC2V 8EG

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover comprises revenue recognised by the company in respect of services provided during the year, adjusted for deferred income, exclusive of Value Added Tax. Revenue is recognised when the right to consideration arises in accordance with the stage of completion of the contract.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

33.33% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as
reported in the profit and loss account because of items of income or expense that are taxable or
deductible in other years and items that are never taxable or deductible. The Company's liability for
current tax is calculated using tax rates that have been enacted or substantively enacted by the end of
the reporting period.

Current tax for the year is recognised in profit or loss, except when they relate to items that are
recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Interest Income

The Interest income in the year in recognised in the Profit & Loss Account using the effective interest method.

Share Based Payment

Equity settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instrument granted. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity. Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged over the remaining vesting period.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
				5 Months ended December
			2021	2020
			Number	Number
		The average monthly number of employees (including directors) during the year was:	5	2

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 January 2021	3,530	3,530
		Additions	5,976	5,976



		At 31 December 2021	9,506	9,506
		Depreciation
		At 1 January 2021	1,097	1,097
		Charge for the year	3,137	3,137



		At 31 December 2021	4,234	4,234
		Net book values
		At 31 December 2021	5,272	5,272
		At 31 December 2020	2,433	2,433

5	Debtors
				5 Months ended December
			2021	2020
			£	£
		Trade debtors	218,430	-





		Other debtors	7,600	-
		Prepayments and accrued income	-	1,517
			226,030	1,517

6	Creditors:
		amounts falling due within one year
				5 Months ended December
			2021	2020
			£	£




		Trade creditors	1,345	3,005

		Corporation tax	195,231	17,891
		Other taxes and social security	109,545	7,436
		Loans from directors	143,471	97,717
		Other creditors	8,043	2,434
		Accruals and deferred income	1,324	1,065
			458,959	129,548

Pensions

The company operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £16,893 (31 December 2020: £89) in the year. Pension contributions of £492 (31 December 2020: £209) were payable at the balance sheet date.

8	Share Capital
		On 4 March 2021 the 100 ordinary shares with a nominal value of £1 each were sub-divided into 10,000 Ordinary shares with a nominal value of £0.01 each.

		On 4 March 2021 20,000 ordinary shares with a nominal value of £0.01 each were issued at a price of £0.01 per share.
				5 Months ended December
			2021	2020
			£	£
		100 Ordinary Shares of £1 each	-	100
		30,000 ordinary share of £0.01 each	300	-
			300	100

9	Share Based Payment
			2021	2020
			No. of shares	No. of shares
		Outstanding at 1 January 2021	-	-
		Granted	1,500	-
		Forfeited	-	-
		Exercised	-	-

		Outstanding at 31 December 2021	1,500	-

		Exercisable at 31 December 2021	-	-

		The options outstanding at 31 December 2021 will vest after 10 years on the condition the individual remains an employee of the company over the vesting period.

10	Share based payment reserve
			Share based payment reserve	Total other reserves
			£	£





		Movement on share based payment reserve	2,400	2,400


		At 31 December 2021	2,400	2,400

Related party transactions

At the Balance Sheet date the company owed £143,471 (31 December 2020 - £97,717) to the directors.