Registered number
07808279
EMILY & EMINE LIMITED
Filleted Accounts
31 March 2024
EMILY & EMINE LIMITED
Registered number: 07808279
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 2,767 -
2,768 1
Current assets
Stocks 11,150 11,791
Debtors 5 126,917 107,051
Cash at bank and in hand 33,596 43,451
171,663 162,293
Creditors: amounts falling due within one year 6 (123,249) (104,366)
Net current assets 48,414 57,927
Total assets less current liabilities 51,182 57,928
Creditors: amounts falling due after more than one year 7 (11,792) (21,741)
Net assets 39,390 36,187
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,290 36,087
Shareholders' funds 39,390 36,187
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.
E Ibrahim
Director
Approved by the board on 6 November 2024
EMILY & EMINE LIMITED
Notes to the Accounts
for the year ended 31 March 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 when the service has been performed.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated 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:
Fixtures and fittings 18% - 19% 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 17 20
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 240,000
At 31 March 2024 240,000
Amortisation
At 1 April 2023 239,999
At 31 March 2024 239,999
Net book value
At 31 March 2024 1
At 31 March 2023 1
4 Tangible fixed assets
Fixtures and fittings
£
Cost
Additions 3,510
At 31 March 2024 3,510
Depreciation
Charge for the year 743
At 31 March 2024 743
Net book value
At 31 March 2024 2,767
5 Debtors 2024 2023
£ £
Directors' loan accounts 118,271 97,933
Other debtors 8,646 9,118
126,917 107,051
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 10,648
Trade creditors 76,497 43,439
Corporation tax 5,758 8,863
Other taxes and social security costs 19,008 16,179
Other creditors 11,338 25,237
123,249 104,366
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,792 21,741
8 Related party transactions
Dividends paid to directors amounted to £23,000 (2023- 34,000). Interest at 2.5% per annum was paid on the overdrawn loan accounts.
9 Controlling party
Throughout this and the previous period the company has been under the control of Ms E Ibrahim and Ms E Balderson, both of whom are directors and shareholders
10 Other information
EMILY & EMINE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
17 Harwood Gardens
Old Windsor
Berks SL4 2LJ
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