Registered number
11529174
Golden Egg & Cream Limited
Unaudited Filleted Accounts
31 May 2024
Golden Egg & Cream Limited
Registered number: 11529174
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,963 19,005
Current assets
Stocks 4,500 5,273
Debtors 4 69,432 177,559
Cash at bank and in hand 12,685 16,319
86,617 199,151
Creditors: amounts falling due within one year 5 (482,903) (496,641)
Net current liabilities (396,286) (297,490)
Total assets less current liabilities (388,323) (278,485)
Creditors: amounts falling due after more than one year 6 (10,833) (20,833)
Net liabilities (399,156) (299,318)
Capital and reserves
Called up share capital 1 1
Profit and loss account (399,157) (299,319)
Shareholder's funds (399,156) (299,318)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss B F Tan
Director
Approved by the board on 6 August 2024
Golden Egg & Cream Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent upon the continued support of other creditors who have indicated that they intend to provide necessary facilities to enable the company to continue to trade for the forseeable future. If the company were unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 55,208
At 31 May 2024 55,208
Depreciation
At 1 June 2023 36,203
Charge for the year 11,042
At 31 May 2024 47,245
Net book value
At 31 May 2024 7,963
At 31 May 2023 19,005
4 Debtors 2024 2023
£ £
Other debtors 69,432 177,559
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 63,024 85,002
Taxation and social security costs 54,872 66,632
Other creditors 355,007 335,007
482,903 496,641
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,833 20,833
7 Controlling party
The company is under the control of the director, Miss B F Tan, by virtue of her shareholdings in the company.
8 Other information
Golden Egg & Cream Limited is a private company limited by shares and incorporated in England. Its registered office is:
114 Hamlet Court Road
Westcliff on Sea
Essex
SS0 7LP
Golden Egg & Cream Limited 11529174 false 2023-06-01 2024-05-31 2024-05-31 VT Final Accounts April 2024 Miss B F Tan No description of principal activity 11529174 2022-06-01 2023-05-31 11529174 core:WithinOneYear 2023-05-31 11529174 core:AfterOneYear 2023-05-31 11529174 core:ShareCapital 2023-05-31 11529174 core:RetainedEarningsAccumulatedLosses 2023-05-31 11529174 2023-06-01 2024-05-31 11529174 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11529174 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11529174 bus:Director40 2023-06-01 2024-05-31 11529174 1 2023-06-01 2024-05-31 11529174 2 2023-06-01 2024-05-31 11529174 core:PlantMachinery 2023-06-01 2024-05-31 11529174 countries:England 2023-06-01 2024-05-31 11529174 bus:FRS102 2023-06-01 2024-05-31 11529174 bus:FilletedAccounts 2023-06-01 2024-05-31 11529174 2024-05-31 11529174 core:WithinOneYear 2024-05-31 11529174 core:AfterOneYear 2024-05-31 11529174 core:ShareCapital 2024-05-31 11529174 core:RetainedEarningsAccumulatedLosses 2024-05-31 11529174 core:PlantMachinery 2024-05-31 11529174 2023-05-31 11529174 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure