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Registered number: SC539267
Euphoria Entity Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
S & T Associates
68 Mottingham Lane
London
SE12 9AW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC539267
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 24,000 31,778
Tangible Assets 5 26,222 30,850
50,222 62,628
CURRENT ASSETS
Stocks 6 6,580 4,000
Debtors 7 2,384 5,973
Cash at bank and in hand 191 (20,326 )
9,155 (10,353 )
Creditors: Amounts Falling Due Within One Year 8 (79,700 ) (55,568 )
NET CURRENT ASSETS (LIABILITIES) (70,545 ) (65,921 )
TOTAL ASSETS LESS CURRENT LIABILITIES (20,323 ) (3,293 )
Creditors: Amounts Falling Due After More Than One Year 9 (38,850 ) (43,384 )
NET LIABILITIES (59,173 ) (46,677 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (59,273 ) (46,777 )
SHAREHOLDERS' FUNDS (59,173) (46,677)
Page 1
Page 2
For the year ending 30 June 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Mrs Jurgita Pamerneckiene
Director
1 October 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Euphoria Entity Limited is a private company, limited by shares, incorporated in Scotland, registered number SC539267 . The registered office is 28-30 High Street, Perth, PH1 5TQ.
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. Going Concern Disclosure
The directors have identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
2.3. 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.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. 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:
Fixtures & Fittings 15%
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 12)
6 12
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 80,000
As at 30 June 2024 80,000
Amortisation
As at 1 July 2023 48,222
Provided during the period 7,778
As at 30 June 2024 56,000
Net Book Value
As at 30 June 2024 24,000
As at 1 July 2023 31,778
Page 3
Page 4
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 July 2023 72,674
As at 30 June 2024 72,674
Depreciation
As at 1 July 2023 41,824
Provided during the period 4,628
As at 30 June 2024 46,452
Net Book Value
As at 30 June 2024 26,222
As at 1 July 2023 30,850
6. Stocks
2024 2023
£ £
Stock 6,580 4,000
7. Debtors
2024 2023
£ £
Due within one year
Other debtors 2,384 5,973
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 6,410
Bank loans and overdrafts 14,814 -
Other loans - 787
Other creditors 5,674 21,738
Taxation and social security 59,212 26,633
79,700 55,568
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 38,850 43,384
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4
Page 5
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Later than one year and not later than five years 45,000 75,000
45,000 75,000
Page 5