Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01falseThe principal activity of the company continued to be that of a model agency.109truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08387348 2023-07-01 2024-06-30 08387348 2022-07-01 2023-06-30 08387348 2024-06-30 08387348 2023-06-30 08387348 c:Director2 2023-07-01 2024-06-30 08387348 d:FurnitureFittings 2023-07-01 2024-06-30 08387348 d:FurnitureFittings 2024-06-30 08387348 d:FurnitureFittings 2023-06-30 08387348 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08387348 d:ComputerEquipment 2023-07-01 2024-06-30 08387348 d:ComputerEquipment 2024-06-30 08387348 d:ComputerEquipment 2023-06-30 08387348 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08387348 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 08387348 d:CurrentFinancialInstruments 2024-06-30 08387348 d:CurrentFinancialInstruments 2023-06-30 08387348 d:Non-currentFinancialInstruments 2024-06-30 08387348 d:Non-currentFinancialInstruments 2023-06-30 08387348 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 08387348 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08387348 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 08387348 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08387348 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 08387348 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 08387348 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-06-30 08387348 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 08387348 d:ShareCapital 2024-06-30 08387348 d:ShareCapital 2023-06-30 08387348 d:SharePremium 2024-06-30 08387348 d:SharePremium 2023-06-30 08387348 d:CapitalRedemptionReserve 2024-06-30 08387348 d:CapitalRedemptionReserve 2023-06-30 08387348 d:RetainedEarningsAccumulatedLosses 2024-06-30 08387348 d:RetainedEarningsAccumulatedLosses 2023-06-30 08387348 c:OrdinaryShareClass1 2023-07-01 2024-06-30 08387348 c:OrdinaryShareClass1 2024-06-30 08387348 c:OrdinaryShareClass2 2023-07-01 2024-06-30 08387348 c:OrdinaryShareClass2 2024-06-30 08387348 c:FRS102 2023-07-01 2024-06-30 08387348 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 08387348 c:FullAccounts 2023-07-01 2024-06-30 08387348 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 08387348 d:WithinOneYear 2024-06-30 08387348 d:WithinOneYear 2023-06-30 08387348 d:BetweenOneFiveYears 2024-06-30 08387348 d:BetweenOneFiveYears 2023-06-30 08387348 2 2023-07-01 2024-06-30 08387348 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08387348














ESTABLISHED MODELS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
ESTABLISHED MODELS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
ESTABLISHED MODELS LIMITED
REGISTERED NUMBER:08387348

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,440
7,619

  
19,440
7,619

Current assets
  

Debtors: amounts falling due within one year
 5 
575,000
455,386

Cash at bank and in hand
 6 
359,078
395,407

  
934,078
850,793

Creditors: amounts falling due within one year
 7 
(570,823)
(494,710)

Net current assets
  
 
 
363,255
 
 
356,083

Total assets less current liabilities
  
382,695
363,702

Creditors: amounts falling due after more than one year
 8 
(29,484)
(51,298)

  

Net assets
  
353,211
312,404


Capital and reserves
  

Called up share capital 
 10 
944
944

Share premium account
  
195,720
195,720

Capital redemption reserve
  
176
176

Profit and loss account
  
156,371
115,564

  
353,211
312,404

1

 
ESTABLISHED MODELS LIMITED
REGISTERED NUMBER:08387348
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




E Dugas
Director

Date: 10 February 2025

The notes on pages 3 to 8 form part of these financial statements.
2

 
ESTABLISHED MODELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Established Models Limited is a private company, limited by shares, registered in England and Wales, registration number 08387348. The registered office address is Unit 25, 214 Bermondsey Street, London, SE1 3TQ. 

The principal activity of the company continued to be that of a model agency.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Turnover

Turnover is recognised from model agency services to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

3

 
ESTABLISHED MODELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

 Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

 Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


4

 
ESTABLISHED MODELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.10

 Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
Straight line
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

 Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.12

 Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.13

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

 Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 9).

5

 
ESTABLISHED MODELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
11,382
24,477
35,859


Additions
1,074
19,835
20,909



At 30 June 2024

12,456
44,312
56,768



Depreciation


At 1 July 2023
5,499
22,740
28,239


Charge for the year 
2,785
6,304
9,089



At 30 June 2024

8,284
29,044
37,328



Net book value



At 30 June 2024
4,172
15,268
19,440



At 30 June 2023
5,883
1,736
7,619


5.


Debtors

2024
2023
£
£


Trade debtors
505,341
390,892

Other debtors
32,087
34,661

Prepayments
37,572
29,833

575,000
455,386



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
359,078
395,407


6

 
ESTABLISHED MODELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
22,098
18,969

Trade creditors
419,924
338,284

Corporation tax
53,455
44,985

Other taxation and social security
33,400
21,711

Other creditors
34,426
60,051

Accruals
7,520
10,710

570,823
494,710


The bank loan of £22,098 (2023 - £18,969) included in creditors due within one year relates to Coronavirus Business Interruption Loan, 80% guaranteed by the government.


8.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
29,484
51,298


The bank loan of £29,484 (2023 - £51,298) included in creditors due after more than one year relates to Coronavirus Business Interruption Loan, 80% guaranteed by the government.


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
22,098
18,969

Amounts falling due 1-2 years

Bank loans
29,484
21,978

Amounts falling due 2-5 years

Bank loans
-
29,320


51,582
70,267


7

 
ESTABLISHED MODELS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



8,882 A Ordinary shares of £0.10 each
888
888
560 Ordinary shares of £0.10 each
56
56

944

944



11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contribution payabe by the company to the fund and is amounted to £12,747 (2023 -  £10,999). Included in other creditors at the year end is an amount payable of £2,356 (2023 - £2,173).


12.


Commitments under operating leases

At 30 June 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
51,345
51,345

Later than 1 year and not later than 5 years
12,379
12,520

63,724
63,865


13.


Related party transactions

As at the year end, the directors owed the company £13,899 (2023 - £13,899). The loans are
interest free and repayable on demand. During the year, the directors were paid a dividend of
£130,000 (2023 - £170,000).

 
8