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Registered Number: 09834671
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 May 2024

for

EMPORIUM COLLECTIVE LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 20,979    27,971 
20,979    27,971 
Current assets      
Stocks 4 18,438    21,608 
Cash at bank and in hand 53,004    41,092 
71,442    62,700 
Creditors: amount falling due within one year 5 (37,292)   (39,347)
Net current assets 34,150    23,353 
 
Total assets less current liabilities 55,129    51,324 
Creditors: amount falling due after more than one year 6 (20,717)   (31,365)
Provisions for liabilities 7 (5,314)   (5,314)
Net assets 29,098    14,645 
 

Capital and reserves
     
Called up share capital 8 5    5 
Profit and loss account 29,093    14,640 
Shareholders' funds 29,098    14,645 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 06 February 2025 and were signed on its behalf by:


-------------------------------
Patricia O'Callaghan
Director
1
General Information
Emporium Collective Ltd is a private company, limited by shares, registered in England and Wales, registration number 09834671, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 13 (2023 : 15).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 June 2023 15,093    62,274    1,590    78,957 
Additions      
Disposals      
At 31 May 2024 15,093    62,274    1,590    78,957 
Depreciation
At 01 June 2023 12,065    37,632    1,289    50,986 
Charge for year 757    6,160    75    6,992 
On disposals      
At 31 May 2024 12,822    43,792    1,364    57,978 
Net book values
Closing balance as at 31 May 2024 2,271    18,482    226    20,979 
Opening balance as at 01 June 2023 3,028    24,642    301    27,971 


4.

Stocks

2024
£
  2023
£
Stocks 18,438    21,608 
18,438    21,608 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Corporation Tax 6,496    4,564 
PAYE & Social Security 795    8,749 
Accrued Expenses 750    750 
Directors' Current Accounts 11,631    11,631 
VAT 17,620    13,653 
37,292    39,347 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 20,717    31,365 
20,717    31,365 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 5,314    5,314 
5,314    5,314 

8.

Share Capital

Authorised
5 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
5 Ordinary shares of £1.00 each  
 

2