Company Registration No. 14499546 (England and Wales)
Esprit Kids Ltd
Unaudited accounts
for the period from 22 November 2022 to 30 November 2023
Esprit Kids Ltd
Unaudited accounts
Contents
Esprit Kids Ltd
Company Information
for the period from 22 November 2022 to 30 November 2023
Company Number
14499546 (England and Wales)
Registered Office
4 King Street Lane
Winnersh
Wokingham
RG41 5AS
UK
Esprit Kids Ltd
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
20,353
Creditors: amounts falling due within one year
(136,311)
Net current liabilities
(109,238)
Called up share capital
100
Profit and loss account
(55,588)
Shareholders' funds
(55,488)
For the period ending 30 November 2023 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 20 August 2024 and were signed on its behalf by
M S Hows
Director
Company Registration No. 14499546
Esprit Kids Ltd
Notes to the Accounts
for the period from 22 November 2022 to 30 November 2023
Esprit Kids Ltd is a private company, limited by shares, registered in England and Wales, registration number 14499546. The registered office is 4 King Street Lane, Winnersh, Wokingham, RG41 5AS, UK.
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 period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
Land & buildings
2% Straight Line
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Esprit Kids Ltd
Notes to the Accounts
for the period from 22 November 2022 to 30 November 2023
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. it also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's intangible fixed assets and tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 22 November 2022
-
-
-
-
Additions
18,058
43,264
870
62,192
At 30 November 2023
18,058
43,264
870
62,192
Charge for the period
262
7,938
242
8,442
At 30 November 2023
262
7,938
242
8,442
At 30 November 2023
17,796
35,326
628
53,750
Amounts falling due within one year
Accrued income and prepayments
6,693
6
Creditors: amounts falling due within one year
2023
Esprit Kids Ltd
Notes to the Accounts
for the period from 22 November 2022 to 30 November 2023
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
Shares issued during the period:
100 Ordinary shares of £1 each
100
8
Average number of employees
During the period the average number of employees was 3.