On The Edge Limited - Accounts to registrar (filleted) - small 18.1
On The Edge Limited - Accounts to registrar (filleted) - small 18.1
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st August 2017 |
| for |
| ON THE EDGE LIMITED |
| ON THE EDGE LIMITED (REGISTERED NUMBER: 04368048) |
| Contents of the Financial Statements |
| for the Year Ended 31st August 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| ON THE EDGE LIMITED |
| Company Information |
| for the Year Ended 31st August 2017 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Pillar House |
| 113/115 Bath Road |
| Cheltenham |
| Gloucestershire |
| GL53 7LS |
| ON THE EDGE LIMITED (REGISTERED NUMBER: 04368048) |
| Balance Sheet |
| 31st August 2017 |
| 2017 | 2016 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) | ( |
) |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| ON THE EDGE LIMITED (REGISTERED NUMBER: 04368048) |
| Notes to the Financial Statements |
| for the Year Ended 31st August 2017 |
| 1. | STATUTORY INFORMATION |
| On The Edge Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| Details of adjustments made on transition to FRS102 are disclosed in the |
| First Year Adoption note. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost basis except for the modification to a fair |
| value basis where specified. |
| Related party exemption |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
| Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
| transactions with wholly owned subsidiaries within the group. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. 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. |
| Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the |
| balance sheet date. |
| Current and deferred tax are determined using tax rates and laws that have been enacted or substantively enacted |
| by the balance sheet date. |
| Stocks |
| Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all |
| costs of purchase, costs of conversion and other costs incurred, where relevant, in bringing stock to its present |
| location and condition. |
| Short term debtors and creditors |
| Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising |
| from impairment are recognised in profit or loss. |
| Impairment |
| Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
| sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
| estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
| impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
| impairment loss is a revaluation decrease. |
| ON THE EDGE LIMITED (REGISTERED NUMBER: 04368048) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2017 |
| 3. | ACCOUNTING POLICIES - continued |
| Provisions |
| Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past |
| event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be |
| reliably estimated. |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 6. | OTHER FINANCIAL COMMITMENTS |
| At the balance sheet date the company had total guarantees, contingencies and commitments of £4,800,000 |
| (2016: £4,580,000). |
| 7. | FIRST YEAR ADOPTION |
| This year is the first year the company has presented its results under FRS 102. The last financial statements |
| prepared under the previous UK GAAP were for the period ended 31st August 2016. The date of transition to |
| FRS 102 was 1st March 2015. |
| No material adjustments have been noted on transition to FRS 102. |