EDGEnvironmental Limited - Period Ending 2020-09-30

EDGEnvironmental Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 5

EDGEnvironmental Limited

Balance Sheet

30 September 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	126,509	159,867
Current assets
Debtors	5	42,717	75,227
Cash at bank and in hand		307,173	324,719
		349,890	399,946
Creditors: Amounts falling due within one year	6	(476,399)	(559,813)
Net current liabilities		(126,509)	(159,867)
Net assets/(liabilities)		-	-
Capital and reserves
Total equity		-	-

EDGEnvironmental Limited

Balance Sheet

30 September 2020

For the financial year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 February 2021 and signed on its behalf by:
 

......................................... Mrs B M Whell Director

Company Registration Number: 11549332

EDGEnvironmental Limited

Notes to the Financial Statements

Year Ended 30 September 2020

1	General information

The company is a private company limited by guarantee incorporated in England and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
International House
10 Churchill Way
Cardiff
United Kingdom
CF10 2HE
England

These financial statements were authorised for issue by the Board on 2 February 2021.

2	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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when expenditure is incurred in the course of the activity which is to be met from the funds received from members. The company is operating under members mutual trading status.

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.

EDGEnvironmental Limited

Notes to the Financial Statements

Year Ended 30 September 2020

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:

Asset class	Depreciation method and rate
Equipment	25% straight line

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2019 - 10).

EDGEnvironmental Limited

Notes to the Financial Statements

Year Ended 30 September 2020

4	Tangible assets

	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 October 2019	159,867	159,867
Additions	8,813	8,813
At 30 September 2020	168,680	168,680
Depreciation
Charge for the year	42,171	42,171
At 30 September 2020	42,171	42,171
Carrying amount
At 30 September 2020	126,509	126,509
At 30 September 2019	159,867	159,867

5

Debtors

	2020 £	2019 £
Trade debtors	38,891	70,185
Other debtors	-	1,144
Prepayments	3,826	3,898
	42,717	75,227

6

Creditors

Creditors: amounts falling due within one year

	2020 £	30 September 2019  £
Due within one year
Trade creditors	35,753	-
Social security and other taxes	3,778	-
Accrued expenses	436,868	559,813
	476,399	559,813