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Company No: 04724885 (England and Wales)

ETERNALLY YOURS BRIDALWEAR LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

ETERNALLY YOURS BRIDALWEAR LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ETERNALLY YOURS BRIDALWEAR LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
ETERNALLY YOURS BRIDALWEAR LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTOR H M Henderson
REGISTERED OFFICE 64 Baldertongate
Newark
Nottinghamshire
NG24 1UN
United Kingdom
COMPANY NUMBER 04724885 (England and Wales)
ACCOUNTANT Duncan & Toplis Limited
14 London Road
Newark
NG24 1TW
United Kingdom
ETERNALLY YOURS BRIDALWEAR LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
ETERNALLY YOURS BRIDALWEAR LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 6,896 8,620
6,896 8,620
Current assets
Stocks 68,225 62,000
Debtors 4 41,373 37,883
Cash at bank and in hand 1,743 1,020
111,341 100,903
Creditors: amounts falling due within one year 5 ( 81,329) ( 75,855)
Net current assets 30,012 25,048
Total assets less current liabilities 36,908 33,668
Creditors: amounts falling due after more than one year 6 ( 6,251) ( 12,821)
Provision for liabilities ( 1,311) ( 1,638)
Net assets 29,346 19,209
Capital and reserves
Called-up share capital 7 1 1
Profit and loss account 29,345 19,208
Total shareholder's funds 29,346 19,209

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Eternally Yours Bridalwear Limited (registered number: 04724885) were approved and authorised for issue by the Director on 17 January 2025. They were signed on its behalf by:

H M Henderson
Director
ETERNALLY YOURS BRIDALWEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ETERNALLY YOURS BRIDALWEAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Eternally Yours Bridalwear Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 64 Baldertongate, Newark, Nottinghamshire, NG24 1UN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 July 2023 33,565 33,565
At 30 June 2024 33,565 33,565
Accumulated depreciation
At 01 July 2023 24,945 24,945
Charge for the financial year 1,724 1,724
At 30 June 2024 26,669 26,669
Net book value
At 30 June 2024 6,896 6,896
At 30 June 2023 8,620 8,620

4. Debtors

2024 2023
£ £
Trade debtors 41,252 36,959
Other debtors 121 924
41,373 37,883

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans and overdrafts 9,020 18,524
Trade creditors 31,137 31,518
Amounts owed to director 22,856 11,769
Accruals 3,295 6,385
Taxation and social security 13,331 6,329
Other creditors 1,690 1,330
81,329 75,855

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 6,251 12,821

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1