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REGISTERED NUMBER: 04279961 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Mary's of Enfield Limited

Mary's of Enfield Limited (Registered number: 04279961)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Mary's of Enfield Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mrs T M Forrest
Mrs T M Dods





SECRETARY: Mrs T M Forrest





REGISTERED OFFICE: 27B High Street
Hoddesdon
Hertfordshire
EN11 8SX





REGISTERED NUMBER: 04279961 (England and Wales)





ACCOUNTANTS: Hardcastle Burton LLP
Lake House
Market Hill
Royston
Hertfordshire
SG8 9JN

Mary's of Enfield Limited (Registered number: 04279961)

Abridged Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,527 4,177

CURRENT ASSETS
Stocks 165,000 155,000
Debtors 4,992 3,033
Cash at bank and in hand 29,890 68,827
199,882 226,860
CREDITORS
Amounts falling due within one year 129,585 154,906
NET CURRENT ASSETS 70,297 71,954
TOTAL ASSETS LESS CURRENT
LIABILITIES

73,824

76,131

CREDITORS
Amounts falling due after more than one
year

(17,828

)

(24,311

)

PROVISIONS FOR LIABILITIES (636 ) (565 )
NET ASSETS 55,360 51,255

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 54,360 50,255
SHAREHOLDERS' FUNDS 55,360 51,255

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Mary's of Enfield Limited (Registered number: 04279961)

Abridged Balance Sheet - continued
31 August 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2023 and were signed on its behalf by:




Mrs T M Forrest - Director



Mrs T M Dods - Director


Mary's of Enfield Limited (Registered number: 04279961)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Mary's of Enfield Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Mary's of Enfield Limited (Registered number: 04279961)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 79,287
Additions 442
At 31 August 2023 79,729
DEPRECIATION
At 1 September 2022 75,110
Charge for year 1,092
At 31 August 2023 76,202
NET BOOK VALUE
At 31 August 2023 3,527
At 31 August 2022 4,177

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 36,000 36,000
Between one and five years 72,000 108,000
108,000 144,000

Mary's of Enfield Limited (Registered number: 04279961)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bounce bank loan 27,552 37,569

In 2020 the company received a government backed loan in light of the Covid 19 pandemic. The loan is secured by the government over a 10 year repayment period.

In 2021 the company began making repayments on an accelerated time frame which would see the loan repaid within 6 years of commencement. Interest is calculated on the balance outstanding on a daily basis at 2.5% per annum.

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
1,000 Share capital 1 £1 1,000 1,000

8. PENSION COMMITMENTS

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 £743 (2022: £1,606). The pension contributions outstanding at the year end amounted to £419 (2022 - £651).