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REGISTERED NUMBER: 12996029 (England and Wales)









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ANNIE & MAUDE LIMITED

ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ANNIE & MAUDE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: M J Mitchell
T S Julian





REGISTERED OFFICE: Old Mansion House
9 Quay Street
TRURO
Cornwall
TR1 2HE





REGISTERED NUMBER: 12996029 (England and Wales)





AUDITORS: TC Group
Statutory Auditors
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 12,956 12,727

CURRENT ASSETS
Stocks 121,223 112,819
Debtors 6 2,593 2,244
Cash at bank and in hand 45,542 79,897
169,358 194,960
CREDITORS
Amounts falling due within one year 7 (448,648 ) (377,892 )
NET CURRENT LIABILITIES (279,290 ) (182,932 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(266,334

)

(170,205

)

PROVISIONS FOR LIABILITIES (3,182 ) (3,182 )
NET LIABILITIES (269,516 ) (173,387 )

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Retained earnings (319,516 ) (223,387 )
SHAREHOLDERS' FUNDS (269,516 ) (173,387 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





M J Mitchell - Director


ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Annie & Maude Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


Amounts in the accounts are rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
The activities of the group as a whole together with the factors likely to affect its future development, performance and financial position are set out in the parent company's Strategic Report.

The company has net liabilities of £269,516 at the balance sheet date. The company is supported by loans from the parent company, Cornwall Group Limited, which has undertaken to continue to provide any necessary financial support for a period of at least 12 months from the date of approval of the accounts.

The company is exposed to a range of operational risks, however management has prepared detailed forecasts for 12 months from the date of signing the accounts, and having considered the assumptions and conclusions made by management, and the availability of financial resources, the directors have a reasonable expectation that the company and group has adequate resources to continue in operational existence for the foreseeable future, and as a minimum for a period of at least 12 months from the date of approval of these financial statements.

On the basis of the above, the accounts have been prepared on the going concern basis.

Critical accounting judgements and key sources of estimation uncertainty
Key sources of estimation uncertainty
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Useful economic life of tangible fixed assets
The Company makes an estimate for the useful economic life of tangible fixed assets taking into account the age, condition, residual value and the expectations for the usage of each class of asset and applies a policy to charge depreciation on a systematic basis over that assessment of useful life, taking into account any impairment that has been identified.

Stock valuation
The company applies a policy of valuing stock at the lower of cost and net realisable value which involves making an assessment of cost, based on prices of raw materials and other components from a range of suppliers, and assessing the net realisable value of the goods taking into account the selling prices of those goods to a range of customers.

Critical judgments
The directors do not believe there are any critical judgments that have been made in applying the company's accounting policies.

ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised for the sale of retail goods at the point of sale when the customer has paid and the transaction has been processed through the till. At this point, the entity has transferred the significant risks and rewards of ownership of the goods, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Tangible fixed assets are reviewed annually for indicators of impairment and any impairment losses arising from the difference between the carrying amount and the recoverable amount are recognised in profit or loss for the period.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include trade and other debtors and amounts owed to fellow group companies, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, that the future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including trade, other creditors and intercompany loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled. or they expire.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 19,662
Additions 4,657
At 30 June 2024 24,319
DEPRECIATION
At 1 July 2023 6,935
Charge for year 4,428
At 30 June 2024 11,363
NET BOOK VALUE
At 30 June 2024 12,956
At 30 June 2023 12,727

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,593 2,244

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 14,962 13,042
Amounts owed to group undertakings 427,606 356,879
Other creditors 6,080 7,971
448,648 377,892

8. LEASING AGREEMENTS

The leased properties are occupied under a tenancy at will arrangement with rents reviewed annually. No commitment is disclosed for property occupied on this basis.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50,000 Ordinary £1 50,000 50,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Pearce FCA (Senior Statutory Auditor)
for and on behalf of TC Group

ANNIE & MAUDE LIMITED (REGISTERED NUMBER: 12996029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company rented premises from the controlling director's pension scheme in the sum of £23,475 (2023: £12,000).

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M J Mitchell who together with his spouse controls 100% of the parent company, Cornwall Group Limited.