Edmans IFA Limited Filleted accounts for Companies House (small and micro)

Edmans IFA Limited Filleted accounts for Companies House (small and micro)

EDMANS IFA LIMITED - Company Information

Print Friendly Version

1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 277,040 255,253 21,787 277,040 21,787 xbrli:pure xbrli:shares iso4217:GBP 05481274 2022-05-01 2023-04-30 05481274 2023-04-30 05481274 2022-04-30 05481274 2021-05-01 2022-04-30 05481274 2022-04-30 05481274 2021-04-30 05481274 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 05481274 bus:Director3 2022-05-01 2023-04-30 05481274 bus:Director4 2022-05-01 2023-04-30 05481274 core:WithinOneYear 2023-04-30 05481274 core:WithinOneYear 2022-04-30 05481274 core:NetGoodwill 2022-04-30 05481274 core:NetGoodwill 2023-04-30 05481274 core:ShareCapital 2023-04-30 05481274 core:ShareCapital 2022-04-30 05481274 core:RetainedEarningsAccumulatedLosses 2023-04-30 05481274 core:RetainedEarningsAccumulatedLosses 2022-04-30 05481274 core:NetGoodwill 2022-05-01 2023-04-30 05481274 core:NetGoodwill 2022-04-30 05481274 bus:SmallEntities 2022-05-01 2023-04-30 05481274 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05481274 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 05481274 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05481274 bus:FullAccounts 2022-05-01 2023-04-30 05481274 bus:OrdinaryShareClass1 2023-04-30 05481274 bus:OrdinaryShareClass1 2022-04-30
COMPANY REGISTRATION NUMBER: 05481274
Edmans IFA Limited
Filleted Unaudited Financial Statements
30 April 2023
Edmans IFA Limited
Financial Statements
Year ended 30 April 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Edmans IFA Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
–
21,787
Current assets
Debtors
7
264,088
194,874
Cash at bank and in hand
318,193
304,565
---------
---------
582,281
499,439
Creditors: amounts falling due within one year
8
99,940
67,894
---------
---------
Net current assets
482,341
431,545
---------
---------
Total assets less current liabilities
482,341
453,332
---------
---------
Net assets
482,341
453,332
---------
---------
Capital and reserves
Called up share capital
9
10,000
10,000
Profit and loss account
472,341
443,332
---------
---------
Shareholders funds
482,341
453,332
---------
---------
These 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 statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 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 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 financial statements .
Edmans IFA Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 21 December 2023 , and are signed on behalf of the board by:
S A Smith
R H McEwen
Director
Director
Company registration number: 05481274
Edmans IFA Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These 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 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
277,040
---------
Amortisation
At 1 May 2022
255,253
Charge for the year
21,787
---------
At 30 April 2023
277,040
---------
Carrying amount
At 30 April 2023
–
---------
At 30 April 2022
21,787
---------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 May 2022 and 30 April 2023
18,114
18,114
--------
--------
Depreciation
At 1 May 2022 and 30 April 2023
18,114
18,114
--------
--------
Carrying amount
At 30 April 2023
–
–
--------
--------
At 30 April 2022
–
–
--------
--------
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings
256,904
187,846
Prepayments and accrued income
7,184
7,028
---------
---------
264,088
194,874
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
58,907
–
Accruals and deferred income
30,177
48,871
Corporation tax
8,388
16,443
Social security and other taxes
1,468
1,580
Other creditors
1,000
1,000
--------
--------
99,940
67,894
--------
--------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
10,000
10,000
10,000
10,000
--------
--------
--------
--------
10. Related party transactions
The company is a wholly owned subsidiary of GRS (2018) Ltd and has taken advantage of the exemption granted under FRS 102 section 33.1A not to disclose transactions with GRS (2018) Ltd or other wholly owned subsidiaries within the group. Included within the transaction value is management charges received.
11. Controlling party
The ultimate parent company is GRS (2018) Ltd.