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Registration number: 10799774

Emerald's Gem House Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Emerald's Gem House Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Emerald's Gem House Limited

Company Information

Director

Mrs J Romcke

Registered office

Woodbury House Green Lane
Exton
Exeter
Devon
EX3 0PW

Accountants

M.J. Smith & Co Limited
Chartered Accountants
Woodbury House
Green Lane
Exton
Exeter
Devon
EX3 0PW

 

Emerald's Gem House Limited

(Registration number: 10799774)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

fixed assets

 

tangible assets

5

170,000

170,000

Current assets

 

Cash at bank and in hand

 

6,368

6,767

Creditors: Amounts falling due within one year

6

(57,811)

(57,344)

Net current liabilities

 

(51,443)

(50,577)

Total assets less current liabilities

 

118,557

119,423

Creditors: Amounts falling due after more than one year

6

(56,830)

(68,522)

Net assets

 

61,727

50,901

capital and reserves

 

Called up share capital

100

100

Profit and loss account

61,627

50,801

Total equity

 

61,727

50,901

For the financial year ending 30 June 2023 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.

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.

 

Emerald's Gem House Limited

(Registration number: 10799774)
Balance Sheet as at 30 June 2023

Approved and authorised by the director on 2 October 2023
 

.........................................
Mrs J Romcke
Director

 

Emerald's Gem House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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:
Woodbury House Green Lane
Exton
Exeter
Devon
EX3 0PW
United Kingdom

These financial statements were authorised for issue by the director on 2 October 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Emerald's Gem House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 1 (2022 - 1).

 

Emerald's Gem House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

4

Taxation on profits on ordinary activities

Note

2023
£

2022
 £

Tax reconciliation

 

UK corporation tax

 

2,539

2,683

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

170,000

170,000

At 30 June 2023

170,000

170,000

Depreciation

Carrying amount

At 30 June 2023

170,000

170,000

At 30 June 2022

170,000

170,000

Included within the net book value of land and buildings above is £170,000 (2022 - £170,000) in respect of freehold land and buildings.
 

 

Emerald's Gem House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

2,072

1,961

Other creditors

2,539

2,683

Director's current account

53,200

52,700

57,811

57,344

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

56,830

68,522

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

56,830

68,522