Registered number
05008086
Autumn Cashmere International (Europe) Ltd
Filleted Accounts
31 December 2023
Autumn Cashmere International (Europe) Ltd
Registered number: 05008086
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 80,733 85,382
Investments held as current assets 4 598,203 -
Cash at bank and in hand 122,800 743,468
801,736 828,850
Creditors: amounts falling due within one year 5 (735,937) (763,999)
Net current assets 65,799 64,851
Net assets 65,799 64,851
Capital and reserves
Called up share capital 100 100
Profit and loss account 65,699 64,751
Shareholders' funds 65,799 64,851
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
K Lee
Director
Approved by the board on 24 September 2024
Autumn Cashmere International (Europe) Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 76,419 85,382
Other debtors 4,314 -
80,733 85,382
4 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 598,203 -
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 5,790 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,809 122,599
Directors loan 17 -
Accruals 8,475 1,625
Taxation and social security costs 7,140 2,560
Other creditors 712,496 637,215
735,937 763,999
6 Related party transactions
During the year, Autumn Cashmere NY Inc (USA) charged the company £112,000 (2022 - £123,000) for management services provided.

As at 31 December 2023, Autumn Cashmere Inc (USA) and Autumn Cashmere NY Inc (USA) had loaned the company £712,496 (2022 - £637,215) and this is included in creditors: amounts falling due within one year.

All transactions were carried out on a commercial arms length basis.

There is no set repayment date, and no interest is currently charged on the loan.
7 Controlling party
The controlling parties are the directors R Lee and K Lee (Trust), who between them hold 100% of the issued share capital of the company.
8 Other information
Autumn Cashmere International (Europe) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Suite 1
1 Old Court Mews
311 Chase Road
London
N14 6JS
Autumn Cashmere International (Europe) Ltd 05008086 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 K Lee No description of principal activity 05008086 2022-01-01 2022-12-31 05008086 core:WithinOneYear 2022-12-31 05008086 core:ShareCapital 2022-12-31 05008086 core:RetainedEarningsAccumulatedLosses 2022-12-31 05008086 2023-01-01 2023-12-31 05008086 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05008086 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 05008086 bus:Director40 2023-01-01 2023-12-31 05008086 1 2023-01-01 2023-12-31 05008086 2 2023-01-01 2023-12-31 05008086 countries:England 2023-01-01 2023-12-31 05008086 bus:FRS102 2023-01-01 2023-12-31 05008086 bus:FilletedAccounts 2023-01-01 2023-12-31 05008086 2023-12-31 05008086 core:WithinOneYear 2023-12-31 05008086 core:ShareCapital 2023-12-31 05008086 core:RetainedEarningsAccumulatedLosses 2023-12-31 05008086 2022-12-31 iso4217:GBP xbrli:pure