Company Registration No. 10253570 (England and Wales)
Monica Harrington Ltd
Unaudited accounts
for the year ended 30 June 2024
Monica Harrington Ltd
Unaudited accounts
Contents
Monica Harrington Ltd
Company Information
for the year ended 30 June 2024
Directors
Mr J Tuite
Ms N M Harrington
Company Number
10253570 (England and Wales)
Registered Office
140 Arlington Road
London
NW1 7HP
United Kingdom
Accountants
Tuite Tang Wong
Chartered Certified Accountants
15 The Broadway
Woodford Green
Essex
IG8 0HL
Monica Harrington Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
2,172
3,343
Cash at bank and in hand
9,710
20,722
Creditors: amounts falling due within one year
(11,916)
(15,252)
Net current assets
315
6,613
Total assets less current liabilities
2,487
9,956
Creditors: amounts falling due after more than one year
(2,392)
(4,941)
Called up share capital
100
100
Profit and loss account
(5)
4,915
Shareholders' funds
95
5,015
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by
Mr J Tuite
Director
Company Registration No. 10253570
Monica Harrington Ltd
Notes to the Accounts
for the year ended 30 June 2024
Monica Harrington Ltd is a private company, limited by shares, registered in England and Wales, registration number 10253570. The registered office is 140 Arlington Road, London, NW1 7HP, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention except as disclosed in the accounting policies certain items are shown at fair value.
The accounts are presented in £ sterling.
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 fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Straight line over 3 years
Computer equipment
Straight line over 3 years
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. 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 receivable.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade creditors are recognised initially at the transaction price.
Monica Harrington Ltd
Notes to the Accounts
for the year ended 30 June 2024
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.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable.
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared
Defined contribution pension obligation
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 July 2023
3,608
6,320
9,928
At 30 June 2024
3,723
6,422
10,145
At 1 July 2023
1,978
4,607
6,585
Charge for the year
817
1,155
1,972
On disposals
(101)
(483)
(584)
At 30 June 2024
2,694
5,279
7,973
At 30 June 2024
1,029
1,143
2,172
At 30 June 2023
1,630
1,713
3,343
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
7,549
7,486
Taxes and social security
-
3,146
Loans from directors
3,067
76
Monica Harrington Ltd
Notes to the Accounts
for the year ended 30 June 2024
7
Creditors: amounts falling due after more than one year
2024
2023
8
Transactions with related parties
Expenditure with and payables to related parties
2023
Directors
Rentals £1,200
2024
Directors
Rentals £1,200
Loans from related parties
2023
Directors
At start of period £942
Advanced £43,096
Repaid £(43,962)
At end of period £76
2024
Directors
At start of period £76
Advanced £24,539
Repaid £(27,530)
At end of period £(3,067)
Terms of loans from related parties
Director loan accounts are interest-free, with no fixed repayment date, and are unsecured.
Page
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).