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Est Display Ltd

Registration number : 07136421



















Annual Report and Unaudited Financial Statements

for the year ended 31 January 2023

 

Est Display Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Est Display Ltd

Company Information

Directors

Mr Andrew Tesseyman

Mrs Jane Elizabeth Tesseyman

Registered office

31 South View Terrace
Yeadon
Leeds
LS19 7QL

Accountants

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Est Display Ltd

(Registration number: 07136421)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

16,682

20,675

Current assets

 

Stocks and work-in-progress

5

2,000

2,000

Debtors

6

2,669

6,999

Cash at bank and in hand

 

964

1,049

 

5,633

10,048

Creditors: Amounts falling due within one year

7

(55,915)

(65,005)

Net current liabilities

 

(50,282)

(54,957)

Total assets less current liabilities

 

(33,600)

(34,282)

Creditors: Amounts falling due after more than one year

7

(12,131)

(17,282)

Net liabilities

 

(45,731)

(51,564)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(45,733)

(51,566)

Total equity

 

(45,731)

(51,564)

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 October 2023 and signed on its behalf by:
 

 

Est Display Ltd

(Registration number: 07136421)
Balance Sheet as at 31 January 2023

.........................................
Mrs Jane Elizabeth Tesseyman
Director

   
     
 

Est Display Ltd

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

1

General information

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

The address of its registered office is:
31 South View Terrace
Yeadon
Leeds
LS19 7QL

These financial statements were authorised for issue by the Board on 16 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.

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.

 

Est Display Ltd

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

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

Fixture, fitting & Equipment

15% reducing balance

Office equipment

33% reducing balance

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Est Display Ltd

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 directors) during the year, was 2 (2022 - 2).

 

Est Display Ltd

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2022

25,926

31,299

43,535

100,760

At 31 January 2023

25,926

31,299

43,535

100,760

Depreciation

At 1 February 2022

20,828

27,122

32,135

80,085

Charge for the year

1,172

1,044

1,777

3,993

At 31 January 2023

22,000

28,166

33,912

84,078

Carrying amount

At 31 January 2023

3,926

3,133

9,623

16,682

At 31 January 2022

5,098

4,177

11,400

20,675

5

Stocks and work-in-progress

2023
£

2022
£

Raw materials and consumables

2,000

2,000

6

Debtors

2023
£

2022
£

Trade debtors

1,727

5,885

Other debtors

942

-

Prepayments

-

1,114

2,669

6,999

 

Est Display Ltd

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

4,885

4,700

Trade creditors

 

1,200

10,316

Taxation and social security

 

-

1,202

Other creditors

 

49,830

48,787

 

55,915

65,005

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

3,834

23,000

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

12,131

17,282

 

Est Display Ltd

Notes to the Unaudited Financial Statements for the year ended 31 January 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,885

4,700