Beyond The Edge Limited Filleted accounts for Companies House (small and micro)

BEYOND THE EDGE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10027166

Beyond The Edge Limited

Filleted Unaudited Abridged Financial Statements

28 February 2021

Beyond The Edge Limited

Abridged Statement of Financial Position

28 February 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	5	3,158	4,725

Current assets

Cash at bank and in hand	7,188	7,631

Creditors: amounts falling due within one year	20,967	12,221
	-------	-------
Net current liabilities	13,779	4,590
	-------	------
Total assets less current liabilities	( 10,621)	135
	-------	----
Net (liabilities)/assets	( 10,621)	135
	-------	----

Capital and reserves

Called up share capital	6	100	100
Profit and loss account		( 10,721)	35
		-------	----
Shareholders (deficit)/funds		( 10,621)	135
		-------	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 28 February 2021 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 abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 28 February 2021 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 21 September 2021 , and are signed on behalf of the board by:

Mr C Allewell

Director

Company registration number: 10027166

Beyond The Edge Limited

Notes to the Abridged Financial Statements

Year ended 28 February 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Rossington Road, England, S11 8SA.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Revenue from the sale of services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	33% straight line
Equipment	-	50% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Government grants

Government grants are recognised using the performance model. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Tangible assets

	£
Cost
At 1 March 2020	11,518
Additions	2,150
	-------
At 28 February 2021	13,668
	-------
Depreciation
At 1 March 2020	6,793
Charge for the year	3,717
	-------
At 28 February 2021	10,510
	-------
Carrying amount
At 28 February 2021	3,158
	-------
At 29 February 2020	4,725
	-------

6. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

7. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2021
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr C Allewell	( 6,388)	( 208)	( 6,596)
Mr AJR Ekins	( 461)	522	61
	------	----	------
	( 6,849)	314	( 6,535)
	------	----	------

	2020
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr C Allewell	( 3,786)	( 2,602)	( 6,388)
Mr AJR Ekins	( 515)	54	( 461)
	------	------	------
	( 4,301)	( 2,548)	( 6,849)
	------	------	------