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Registration number: 06273076

Alcove Designs Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Alcove Designs Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Alcove Designs Ltd

Company Information

Directors:

WK Jest

C Jest

Company secretary:

C Jest

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

06273076

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Alcove Designs Ltd

(Registration number: 06273076)
Balance Sheet as at 30 April 2024

Note

30.04.24

30.04.23

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

6

 

472

 

863

CURRENT ASSETS

   

 

Debtors

7

15,031

 

26,981

 

Cash at bank and in hand

 

4,940

 

6,948

 

 

19,971

 

33,929

 

CREDITORS

   

 

Creditors within 1yr

8

37,559

 

40,748

 

Net current liabilities

   

(17,588)

 

(6,819)

Net liabilities

   

(17,116)

 

(5,956)

CAPITAL AND RESERVES

   

 

Called up share capital

 

100

 

100

Profit and loss account

 

(17,216)

 

(6,056)

Shareholders' deficit

   

(17,116)

 

(5,956)

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 January 2025

.........................................
WK Jest
Director

 

Alcove Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1.

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the Board on 27 January 2025.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Going concern

The accounts have been prepared on a going concern basis on the understanding that the director will continue to support the company for a period of not less than 12 months.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Alcove Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

Straight line over 3 years

Fixtures and fittings

Straight line over 3 years

Computer equipment

Straight line over 4 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 7 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Alcove Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3.

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

4.

Loss before tax

Arrived at after charging/(crediting)

30.04.24
£

30.04.23
£

Depreciation expense

391

391

5.

Intangible assets

Goodwill
£

Cost or valuation

At 1 May 2023

45,000

At 30 April 2024

45,000

Amortisation

At 1 May 2023

45,000

At 30 April 2024

45,000

Carrying amount

At 30 April 2024

-

 

Alcove Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

6.

Tangible assets

Plant and Machinery etc.
£

Cost or valuation

At 1 May 2023

4,953

At 30 April 2024

4,953

Depreciation

At 1 May 2023

4,090

Charge for the year

391

At 30 April 2024

4,481

Carrying amount

At 30 April 2024

472

At 30 April 2023

863

7.

Debtors

Current

30.04.24
£

30.04.23
£

Trade debtors

13,729

22,165

Prepayments

-

3,414

Other debtors

1,302

1,402

 

15,031

26,981

8.

Creditors

Creditors: amounts falling due within one year

30.04.24
£

30.04.23
£

Due within one year

Trade creditors

2,379

6,320

Taxation and social security

2,067

2,947

Accruals and deferred income

1,114

1,304

Other creditors

31,999

30,177

37,559

40,748

Included in other creditors is £31,999 amount owed to the director. No interest or repayment terms have been set.