G B Edwards Limited - Period Ending 2022-08-31

G B Edwards Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

G B Edwards Limited

Company Information

Director

Mrs Penelope Ann Truscott

Registered office

Bedford House Trewennack Helston Cornwall TR13 0PW

G B Edwards Limited

(Registration number: 00647625)
Balance Sheet as at 31 August 2022

	Note	2022 £	2021 £
Fixed assets
Tangible assets	4	1	1
Investment property	5	65,000	140,000
		65,001	140,001
Creditors: Amounts falling due within one year	6	(165,770)	(165,331)
Net liabilities		(100,769)	(25,330)
Capital and reserves
Called up share capital		12,500	12,500
Other reserves		43,437	118,437
Retained earnings		(156,706)	(156,267)
Shareholders' deficit		(100,769)	(25,330)

For the financial year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 May 2023
 

......................................... Mrs Penelope Ann Truscott Director

G B Edwards Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bedford House
Trewennack
Helston
Cornwall
TR13 0PW

These financial statements were authorised for issue by the director on 26 May 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis. The director has confirmed she will continue to support the company.

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.

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
Plant and machinery	Nil (The value has already been written down to £1)

Investment property

Investment property is carried at fair value. Changes in fair value are recognised in profit or loss. Deferred taxation is provided on these changes at the rate expected to apply when the property is sold.

G B Edwards Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 0).

4	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
At 1 September 2021	18,557	18,557
At 31 August 2022	18,557	18,557
Depreciation
At 1 September 2021	18,556	18,556
At 31 August 2022	18,556	18,556
Carrying amount
At 31 August 2022	1	1
At 31 August 2021	1	1

5	Investment properties

	2022 £
Fair Value At 1 September 2021	140,000
Fair value adjustments	(75,000)
Fair Value at 31 August 2022	65,000

The fair value is based on a report by a RICS qualified valuer.

G B Edwards Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2022

6

Creditors

Creditors: amounts falling due within one year

	2022 £	2021 £
Due within one year
Accruals and deferred income	522	522
Other creditors	165,248	164,809
	165,770	165,331