Registered number
13376305
Emma Gemma Hair Accessories Ltd
Filleted Accounts
For the Year Ended
31 May 2024
Emma Gemma Hair Accessories Ltd
Company Information
Director
Miss Emma Aziz
Accountants
Bird & Co
183 Main Street
Yaxley
Peterborough
Cambs
PE7 3LD
Registered office
44 London Road
Yaxley
Peterborough
Cambs
PE7 3NP
Registered number
13376305
Emma Gemma Hair Accessories Ltd
Registered number: 13376305
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,701 4,934
Tangible assets 4 1,506 699
5,207 5,633
Current assets
Stocks 1,918 1,918
Creditors: amounts falling due within one year 5 (13,500) (11,385)
Net current liabilities (11,582) (9,467)
Net liabilities (6,375) (3,834)
Capital and reserves
Called up share capital 100 100
Profit and loss account (6,475) (3,934)
Shareholder's funds (6,375) (3,834)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Miss E Aziz
Director
Approved by the board on 29 January 2025
Emma Gemma Hair Accessories Ltd
Notes to the Accounts
for the year ended 31 May 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 by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative 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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery 20% reducing balance method
Fixtures, fittings, tools and equipment 20% reducing balance method
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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 0 0
3 Intangible fixed assets £
Patents:
Cost
At 1 June 2023 6,167
At 31 May 2024 6,167
Amortisation
At 1 June 2023 1,233
Provided during the year 1,233
At 31 May 2024 2,466
Net book value
At 31 May 2024 3,701
At 31 May 2023 4,934
Patents are being written off in equal annual instalments over their estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 873
Additions 1,184
At 31 May 2024 2,057
Depreciation
At 1 June 2023 174
Charge for the year 377
At 31 May 2024 551
Net book value
At 31 May 2024 1,506
At 31 May 2023 699
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 13,500 11,385
6 Other information
Emma Gemma Hair Accessories Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44 London Road
Yaxley
Peterborough
Cambs
PE7 3NP
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