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 2022

at	31 December 2022
Company No.		12107462	Notes	2022	2021
				£	£
Fixed assets

	Tangible assets		4	6,553	5,272


				6,553	5,272
Current assets

	Debtors		5	75,612	226,030

	Cash at bank and in hand			1,490,692	907,731
				1,566,304	1,133,761
Creditors: Amount falling due within one year			6	(302,351)	(458,959)
Net current assets				1,263,953	674,802
Total assets less current liabilities				1,270,506	680,074




Net assets				1,270,506	680,074

Capital and reserves
	Called up share capital		8	300	300

	Share based payment reserve		10	6,488	2,400

	Profit and loss account			1,263,718	677,374

Total equity				1,270,506	680,074



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 2022 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 12 April 2023
And signed on its behalf by:
D. Shutt
Director
12 April 2023

for the year ended 31 December 2022

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 recruitment services provided during the year, exclusive of Value Added Tax. Revenue is recognised when the right to consideration arises and it is probable the economic benefits will flow to the company.

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:

Plant and machinery

33.33% Straight line

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 equivalent

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
			2022	2021
			Number	Number
		The average monthly number of employees (including directors) during the year was:	7	5

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 January 2022	-	9,506	9,506
		Additions	217	6,019	6,236



		At 31 December 2022	217	15,525	15,742
		Depreciation
		At 1 January 2022	-	4,234	4,234
		Charge for the year	72	4,883	4,955



		At 31 December 2022	72	9,117	9,189
		Net book values
		At 31 December 2022	145	6,408	6,553
		At 31 December 2021	-	5,272	5,272

5	Debtors
			2022	2021
			£	£
		Trade debtors	52,944	218,430





		Other debtors	7,600	7,600
		Prepayments and accrued income	15,068	-
			75,612	226,030

6	Creditors:
		amounts falling due within one year
			2022	2021
			£	£




		Trade creditors	5,870	1,345

		Corporation tax	187,534	195,231
		Other taxes and social security	94,458	109,545
		Loans from directors	4,481	143,471
		Other creditors	8,510	8,043
		Accruals and deferred income	1,498	1,324
			302,351	458,959

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 £179,137 (31 December 2021: £16,893) in the year. Pension contributions of £1,108 (31 December 2021: £492) were payable at the balance sheet date.

8	Share capital
			2022	2021
			£	£
		30,000 ordinary share of £0.01 each	300	300
			300	300

9	Share Based Payment
			2022	2021
			£	£
		Outstanding at beginning of the year	1,500	-
		Granted	750	1,500
		Forfeited	-	-
		Exercised	-	-

		Outstanding at end of the year	2,250	1,500

		Exercisable at end of the year	-	-

		Out of the options outstanding at 31 December 2022, 1,500 will vest after 9 years and 750 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 and 1 January 2022	2,400	2,400
		Movement on share based payment reserve	4,088	4,088


		At 31 December 2022	6,488	6,488

Related party transactions

At the Balance Sheet date the company owed £4,481 (31 December 2021 - £143,471) to the directors.