Edespare Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07662780 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 October 2021

for

EDESPARE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

P E Morris

B P Murtagh

D R C Ede

Registered office:

Eden House

Two Rivers Business Park

Station Lane

Witney

Oxfordshire

OX28 4BL

Registered number:

07662780 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

3 Danebrook Court

Langford Lane

Kidlington

Oxfordshire

OX5 1LQ

Fixed assets

Tangible assets

4

-

-

Investment property

5

1,662,906

1,662,906

1,662,906

1,662,906

Current assets

Debtors

6

3,950

3,850

Cash at bank

40,342

29,404

44,292

33,254

Creditors

Amounts falling due within one year

7

1,119,374

1,185,387

Net current liabilities

(1,075,082

)

(1,152,133

)

Total assets less current liabilities

587,824

510,773

Capital and reserves

Called up share capital

8

300

300

Retained earnings

587,524

510,473

Shareholders' funds

587,824

510,773

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2022 and were signed on its behalf by:

D R C Ede - Director

1.	Statutory information

Edespare Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern for the foreseeable future.

3.	Employees and directors

The average number of employees during the year was NIL (2020 - NIL).

4.	Tangible fixed assets

Fixtures

and

fittings

£

Cost

At 1 November 2020

and 31 October 2021

4,730

Depreciation

At 1 November 2020

and 31 October 2021

4,730

Net book value

At 31 October 2021

-

At 31 October 2020

-

5.	Investment property

Investment property was revalued by the directors on an open market basis on 31 October 2021.

Cost or valuation at 31 October 2021 is represented by:

£

Cost

1,662,906

6.

Debtors: amounts falling due within one year

31/10/21

31/10/20

£

£

Trade debtors

150

150

Other debtors

3,800

3,700

3,950

3,850

7.

Creditors: amounts falling due within one year

31/10/21

31/10/20

£

£

Trade creditors

1,336

766

Taxation and social security

18,074

17,263

Other creditors

1,099,964

1,167,358

1,119,374

1,185,387

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/21

31/10/20

value:

£

£

100

A ordinary shares

£1

100

100

100

B ordinary shares

£1

100

100

100

C ordinary shares

£1

100

100

300

300

9.	Related party disclosures

Included within other creditors at 31 October 2021 are amounts owed to related parties of the company. The amounts owed are free of interest and repayable on demand:

Owed to Ede Homes Limited £460,126 (2020 - £3382,436) - common director D R C Ede.

Owed to close family members of director P E Morris £285,465 (2020 - £315,465.)

Owed to director B P Murtagh £Nill (2020 - £460,000.)

Owed to close family members of director B P Murtagh £340,000 (2020 - £Nil.)