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Registered number: 10323647
EFM Aylesbury Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10323647
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 23,663 22,609
23,663 22,609
CURRENT ASSETS
Debtors 6 48,606 58,383
Cash at bank and in hand 653 10,053
49,259 68,436
Creditors: Amounts Falling Due Within One Year 7 (51,122 ) (39,786 )
NET CURRENT ASSETS (LIABILITIES) (1,863 ) 28,650
TOTAL ASSETS LESS CURRENT LIABILITIES 21,800 51,259
Creditors: Amounts Falling Due After More Than One Year 8 (8,750 ) (22,000 )
NET ASSETS 13,050 29,259
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 12,950 29,159
SHAREHOLDERS' FUNDS 13,050 29,259
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R Maheswaran
Director
11 February 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
EFM Aylesbury Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10323647 . The registered office is 37 Water Meadow Way, Wendover, Aylesbury, Buckinghamshire, HP22 6RS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets have been amortised to profit and loss over their useful estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% Straight Line
Plant & Machinery 25% Straight Line
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 12,950
As at 31 August 2024 12,950
Amortisation
As at 1 September 2023 12,950
As at 31 August 2024 12,950
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 September 2023 23,000 6,099 29,099
Additions 2,400 3,060 5,460
Disposals - (2,465 ) (2,465 )
As at 31 August 2024 25,400 6,694 32,094
Depreciation
As at 1 September 2023 2,300 4,190 6,490
Provided during the period 2,540 1,169 3,709
Disposals - (1,768 ) (1,768 )
As at 31 August 2024 4,840 3,591 8,431
Net Book Value
As at 31 August 2024 20,560 3,103 23,663
As at 1 September 2023 20,700 1,909 22,609
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,388 4,989
Prepayments and accrued income 9,676 7,352
Other debtors 32,000 21,250
45,064 33,591
Due after more than one year
Other debtors due after one year 3,542 24,792
48,606 58,383
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 13,250 19,500
Corporation tax 22,840 11,430
Other taxes and social security 432 787
VAT 5,524 4,667
Other creditors 6,514 -
Accruals and deferred income 1,215 3,090
Directors' loan accounts 1,347 312
51,122 39,786
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,750 22,000
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
The director of the company is a related party of the Escapologist Ltd. Included in debtors is £35,542 due from the Escapoloigist Ltd, split into £32,000 due within one year, and £3,542 due after more than one year.
Included in creditors is £1,347 due to a director of the company (2023: £312).
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