Edgworth Partners Ltd Accounts
Edgworth Partners Ltd Accounts
Edgworth Partners Ltd Filleted Accounts Cover |
Company No. 12107462 | |||||||||
For the Year Ended | |||||||||
Edgworth Partners Ltd Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2023 | 2022 | |||||||
£ | £ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | |||||||||
Current assets | ||||||||||
Debtors | 5 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 6 | ( | ( | |||||||
Net current assets | ||||||||||
Total assets less current liabilities | ||||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | 8 | |||||||||
Revaluation reserve | 10 | |||||||||
Profit and loss account | 10 | |||||||||
Total equity | ||||||||||
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 11 April 2024 and signed on its behalf by: | ||||||||||
D. Shutt | ||||||||||
Director | ||||||||||
11 April 2024 |
Edgworth Partners Ltd Notes to the Accounts Registrar |
for the year ended 31 December 2023 | ||||||||||||||
1 | General information | |||||||||||||
Edgworth Partners Ltd is a private company limited by shares and incorporated in England and Wales. | ||||||||||||||
Its registered number is: 12107462 | ||||||||||||||
Its registered office is: | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
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 | ||||||||||||||
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. | ||||||||||||||
Plant and machinery | ||||||||||||||
Furniture, fittings and equipment | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. 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 tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Trade and other debtors | ||||||||||||||
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. | ||||||||||||||
Trade and other creditors | ||||||||||||||
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. | ||||||||||||||
Defined contribution pensions | ||||||||||||||
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 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 | |||||||||||||
2023 | 2022 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Tangible fixed assets | |||||||||||||
Plant and machinery | Fixtures, fittings and equipment | Total | ||||||||||||
£ | £ | £ | ||||||||||||
Cost or revaluation | ||||||||||||||
At 1 January 2023 | ||||||||||||||
Additions | ||||||||||||||
Disposals | ( | ( | ||||||||||||
At 31 December 2023 | ||||||||||||||
Depreciation | ||||||||||||||
At 1 January 2023 | ||||||||||||||
Charge for the year | ||||||||||||||
Disposals | ( | ( | ||||||||||||
At 31 December 2023 | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2023 | ||||||||||||||
At 31 December 2022 | 145 | 6,408 | ||||||||||||
5 | Debtors | |||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Trade debtors | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
6 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
Trade creditors | ||||||||||||||
Taxes and social security | ||||||||||||||
Loans from directors | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
7 | 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 £186,360 (31 December 2022: £179,137) in the year. Pension contributions of £1,283 (31 December 2022: £1,108) were payable at the balance sheet date. | ||||||||||||||
8 | Share Capital | |||||||||||||
Share capital includes following: | ||||||||||||||
2023 | 2022 | |||||||||||||
£ | £ | |||||||||||||
30,000 ordinary shares of £0.01 each | 300 | 300 | ||||||||||||
300 | 300 | |||||||||||||
9 | Share Based Payment | |||||||||||||
2023 | 2022 | |||||||||||||
Outstanding at beginning of the year | 2,250 | 1,500 | ||||||||||||
Granted | - | 750 | ||||||||||||
Forfeited | - | - | ||||||||||||
Exercised | - | - | ||||||||||||
Outstanding at end of the year | 2,250 | 2,250 | ||||||||||||
Exercisable at end of the year | - | - | ||||||||||||
The options may be treated as vested either upon achievement of a set revenue target, or three months prior to the tenth anniversary of the date of the grant, or on a sale of the business. The directors are of the opinion that out of the options outstanding at 31 December 2023, 1,500 will vest in 8 years and 750 will vest in 9 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 | |||||||||||||
£ | £ | |||||||||||||
At 1 January 2022 | ||||||||||||||
Movement on share based payment reserve | ||||||||||||||
At 31 December 2022 and 1 January 2023 | ||||||||||||||
Movement on share based payment reserve | ||||||||||||||
At 31 December 2023 | ||||||||||||||
11 | Related party transactions | |||||||||||||
At the Balance Sheet date the company owed £477 (31 December 2022 - £4,481) to the directors. | ||||||||||||||