EDIFY BUSINESS LIMITED

EDIFY BUSINESS LIMITED

EDIFY BUSINESS LIMITED - Company Information

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EDIFY BUSINESS LIMITED

Company Registration Number:
12286304 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2020

Period of accounts

Start date: 29 October 2019

End date: 31 October 2020

EDIFY BUSINESS LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2020

Balance sheet
Notes

EDIFY BUSINESS LIMITED

Balance sheet

As at 31 October 2020


Notes
2020


£
Fixed assets
Tangible assets: 3 539
Total fixed assets: 539
Current assets
Debtors: 4 540
Cash at bank and in hand: 15,588
Total current assets: 16,128
Creditors: amounts falling due within one year: 5 (9,406)
Net current assets (liabilities): 6,722
Total assets less current liabilities: 7,261
Total net assets (liabilities): 7,261
Capital and reserves
Called up share capital: 1
Profit and loss account: 7,260
Shareholders funds: 7,261

The notes form part of these financial statements

EDIFY BUSINESS LIMITED

Balance sheet statements

For the year ending 31 October 2020 the company was entitled to exemption 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 Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 28 July 2021
and signed on behalf of the board by:

Name: M Constable
Status: Director

The notes form part of these financial statements

EDIFY BUSINESS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2020

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Other accounting policies

Tangible fixed assets Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: Fixtures, fittings, tools and equipment over 3-10 years Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Creditors Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Current tax assets and liabilities are not discounted.

EDIFY BUSINESS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2020

2. Employees

2020
Average number of employees during the period 2

EDIFY BUSINESS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2020

3. Tangible Assets

Total
Cost £
Additions 809
At 31 October 2020 809
Depreciation
Charge for year 270
At 31 October 2020 270
Net book value
At 31 October 2020 539

EDIFY BUSINESS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2020

4. Debtors

Trade debtors 2020-540.

EDIFY BUSINESS LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2020

5. Creditors: amounts falling due within one year note

trade creditors 2020-36. tazation and security costs 2020-2,711. other creditors2020-6,659.