0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 368,130 368,130 3,865 3,865 3,573 3,573 292 xbrli:pure xbrli:shares iso4217:GBP 05828856 2022-07-01 2023-06-30 05828856 2023-06-30 05828856 2022-06-30 05828856 2021-07-01 2022-06-30 05828856 2022-06-30 05828856 2021-06-30 05828856 core:FurnitureFittings 2022-07-01 2023-06-30 05828856 bus:Director1 2022-07-01 2023-06-30 05828856 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 05828856 core:FurnitureFittings 2022-06-30 05828856 core:WithinOneYear 2023-06-30 05828856 core:WithinOneYear 2022-06-30 05828856 core:ShareCapital 2023-06-30 05828856 core:ShareCapital 2022-06-30 05828856 core:RetainedEarningsAccumulatedLosses 2023-06-30 05828856 core:RetainedEarningsAccumulatedLosses 2022-06-30 05828856 core:FurnitureFittings 2022-06-30 05828856 bus:SmallEntities 2022-07-01 2023-06-30 05828856 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 05828856 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05828856 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05828856 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 05828856
Eden Classics Limited
Filleted Unaudited Financial Statements
30 June 2023
Eden Classics Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
292
Current assets
Debtors
6
18,418
52,042
Cash at bank and in hand
20,885
18,933
-------
-------
39,303
70,975
Creditors: amounts falling due within one year
7
24,850
8,249
-------
-------
Net current assets
14,453
62,726
-------
-------
Total assets less current liabilities
14,453
63,018
-------
-------
Net assets
14,453
63,018
-------
-------
Capital and reserves
Called up share capital
5,000
5,000
Profit and loss account
9,453
58,018
-------
-------
Shareholders funds
14,453
63,018
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 February 2024 , and are signed on behalf of the board by:
D Shah
Director
Company registration number: 05828856
Eden Classics Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Bermer Place, Imperial Way, Watford, WD24 4AY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Brand
-
Nil
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable/payable and loans from third parties.
4. Intangible assets
Brands
£
Cost
At 1 July 2022 and 30 June 2023
368,130
---------
Amortisation
At 1 July 2022 and 30 June 2023
368,130
---------
Carrying amount
At 30 June 2023
---------
At 30 June 2022
---------
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 July 2022
3,865
3,865
Disposals
( 3,865)
( 3,865)
------
------
At 30 June 2023
------
------
Depreciation
At 1 July 2022
3,573
3,573
Disposals
( 3,573)
( 3,573)
------
------
At 30 June 2023
------
------
Carrying amount
At 30 June 2023
------
------
At 30 June 2022
292
292
------
------
6. Debtors
2023
2022
£
£
Other debtors
18,418
52,042
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,499
Other creditors
24,850
3,750
-------
------
24,850
8,249
-------
------