Company registration number 08920237 (England and Wales)
EUPHORIA ONE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
EUPHORIA ONE LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
EUPHORIA ONE LTD
STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,551,756
1,592,685
Current assets
Stocks
1,784,169
1,277,167
Debtors
5
237,563
251,152
Cash at bank and in hand
1,521,869
642,778
3,543,601
2,171,097
Creditors: amounts falling due within one year
6
(1,403,016)
(1,338,574)
Net current assets
2,140,585
832,523
Net assets
3,692,341
2,425,208
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
3,692,340
2,425,207
Total equity
3,692,341
2,425,208

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

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 January 2025
Mrs R Y Sardo Viscuglia
Director
Company registration number 08920237 (England and Wales)
EUPHORIA ONE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information

Euphoria One Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 15,16,17 & 25 Black Swan Business Park, Black Swan Road, Dawlish, Devon, EX7 0FQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Straight line over 50 years
Fixtures, fittings & equipment
Straight line over 4 years
Computer equipment
Straight line over 3 years

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.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price.

At each reporting date, an assessment of stock is carried out to identify obsolete stock. A provision for such stock is then introduced to reduce the carrying value to the lower of cost and net realisable value.

1.5
Equity instruments

Dividends payable are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

EUPHORIA ONE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
12
12
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
10,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
10,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
EUPHORIA ONE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
1,604,293
199,474
1,803,767
Additions
-
0
39,180
39,180
At 30 April 2024
1,604,293
238,654
1,842,947
Depreciation and impairment
At 1 May 2023
88,838
122,244
211,082
Depreciation charged in the year
32,100
48,009
80,109
At 30 April 2024
120,938
170,253
291,191
Carrying amount
At 30 April 2024
1,483,355
68,401
1,551,756
At 30 April 2023
1,515,455
77,230
1,592,685
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
237,563
251,152

 

 

6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,406
17,769
Taxation and social security
1,054,953
1,121,383
Other creditors
345,657
199,422
1,403,016
1,338,574
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