2023-04-012024-03-312024-03-31false04456184ELIZABETH STANHOPE INTERIORS 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ELIZABETH STANHOPE INTERIORS LIMITED

Registered Number
04456184
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

ELIZABETH STANHOPE INTERIORS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

NEWCOMBE, Elizabeth Rachel

Company Secretary

KIRBY, Pauline

Registered Address

27 Mill Street
Oakham
Rutland
LE15 6EA

Registered Number

04456184 (England and Wales)
ELIZABETH STANHOPE INTERIORS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets312,89915,175
Tangible assets473,48182,871
86,38098,046
Current assets
Stocks5141,326193,758
Debtors6249,063248,283
Cash at bank and on hand106,624173,109
497,013615,150
Creditors amounts falling due within one year7(239,018)(322,992)
Net current assets (liabilities)257,995292,158
Total assets less current liabilities344,375390,204
Creditors amounts falling due after one year8(74,628)(87,964)
Provisions for liabilities10(7,085)(7,085)
Net assets262,662295,155
Capital and reserves
Called up share capital160,100160,100
Profit and loss account102,562135,055
Shareholders' funds262,662295,155
The financial statements were approved and authorised for issue by the Director on 12 September 2024, and are signed on its behalf by:
NEWCOMBE, Elizabeth Rachel
Director
Registered Company No. 04456184
ELIZABETH STANHOPE INTERIORS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
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.
Intangible assets
The intangible assets are being written off over its useful life on a reducing balance method.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Related parties
At the beginning of the year there was an overdrawn loan account of £75,115 in relations to the director Ms Newcome. At the end of the year the balance had been reduced to £66,128.
2.Average number of employees

20242023
Average number of employees during the year128
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 April 23158,615158,615
At 31 March 24158,615158,615
Amortisation and impairment
At 01 April 23143,440143,440
Charge for year2,2762,276
At 31 March 24145,716145,716
Net book value
At 31 March 2412,89912,899
At 31 March 2315,17515,175
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2319,01748,49043,544-111,051
Additions--9,139-9,139
At 31 March 2419,01748,49052,683-120,190
Depreciation and impairment
At 01 April 239,2391,21217,6399028,180
Charge for year1,45311,8195,256-18,528
Revaluation surplus---11
At 31 March 2410,69213,03122,8959146,709
Net book value
At 31 March 248,32535,45929,788(91)73,481
At 31 March 239,77847,27825,905(90)82,871
5.Stocks

2024

2023

££
Work in progress141,326193,758
Total141,326193,758
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables233,099240,047
Other debtors643-
Prepayments and accrued income15,3218,236
Total249,063248,283
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables200,544168,216
Bank borrowings and overdrafts4,733116
Taxation and social security23,34634,791
Finance lease and HP contracts5,4136,673
Other creditors-77,860
Accrued liabilities and deferred income4,98235,336
Total239,018322,992
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts38,29947,481
Other creditors36,32940,483
Total74,62887,964
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts36,32940,483
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,0857,085
Total7,0857,085