Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falsemanufacture of kitchen furniture23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05418891 2023-06-01 2024-05-31 05418891 2022-06-01 2023-05-31 05418891 2024-05-31 05418891 2023-05-31 05418891 2022-06-01 05418891 c:Director1 2023-06-01 2024-05-31 05418891 d:PlantMachinery 2023-06-01 2024-05-31 05418891 d:PlantMachinery 2024-05-31 05418891 d:PlantMachinery 2023-05-31 05418891 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05418891 d:MotorVehicles 2023-06-01 2024-05-31 05418891 d:MotorVehicles 2024-05-31 05418891 d:MotorVehicles 2023-05-31 05418891 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05418891 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 05418891 d:CurrentFinancialInstruments 2024-05-31 05418891 d:CurrentFinancialInstruments 2023-05-31 05418891 d:Non-currentFinancialInstruments 2024-05-31 05418891 d:Non-currentFinancialInstruments 2023-05-31 05418891 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 05418891 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 05418891 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 05418891 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 05418891 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-05-31 05418891 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 05418891 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-05-31 05418891 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 05418891 d:ShareCapital 2024-05-31 05418891 d:ShareCapital 2023-05-31 05418891 d:RetainedEarningsAccumulatedLosses 2024-05-31 05418891 d:RetainedEarningsAccumulatedLosses 2023-05-31 05418891 c:FRS102 2023-06-01 2024-05-31 05418891 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 05418891 c:FullAccounts 2023-06-01 2024-05-31 05418891 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 05418891 d:WithinOneYear 2024-05-31 05418891 d:WithinOneYear 2023-05-31 05418891 d:AcceleratedTaxDepreciationDeferredTax 2024-05-31 05418891 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 05418891 2 2023-06-01 2024-05-31 05418891 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 05418891









EMERSON INTERIORS LTD








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

 
EMERSON INTERIORS LTD
REGISTERED NUMBER: 05418891

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
88,308
71,441

Current assets
  

Stocks
 5 
1,600
2,300

Debtors: amounts falling due within one year
 6 
125,403
82,452

Cash at bank and in hand
 7 
77,899
39,771

  
204,902
124,523

Creditors: amounts falling due within one year
 8 
(192,697)
(135,244)

Net current assets/(liabilities)
  
 
 
12,205
 
 
(10,721)

Total assets less current liabilities
  
100,513
60,720

Creditors: amounts falling due after more than one year
 9 
(12,235)
(22,436)

Provisions for liabilities
  

Deferred tax
 11 
(22,077)
(13,574)

Net assets
  
66,201
24,710


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
66,101
24,610

  
66,201
24,710


Page 1

 
EMERSON INTERIORS LTD
REGISTERED NUMBER: 05418891
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges his 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 statement of comprehensive income 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 on 17 February 2025.




R Antino
Director

Page 2

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Emerson Interiors Ltd is a private company limited by shares, incorporated in England, United Kingdom.
The address of the registered office and the principal place of business is Units 8&9 Cranes Industrial Centre, Cranes Close, Basildon, Essex, SS14 3JB.  The company's principal activity is that of the manufacture of kitchen furniture.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Motor vehicles
-
25%

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.

 
2.4

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock. 

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

 
2.8

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.

Page 4

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

Interest income

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

 
2.14

Borrowing costs

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

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 income 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).

Page 6

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 June 2023
93,829
18,810
112,639


Additions
32,340
-
32,340



At 31 May 2024

126,169
18,810
144,979



Depreciation


At 1 June 2023
25,734
15,464
41,198


Charge for the year on owned assets
14,637
836
15,473



At 31 May 2024

40,371
16,300
56,671



Net book value



At 31 May 2024
85,798
2,510
88,308



At 31 May 2023
68,095
3,346
71,441


5.


Stocks

2024
2023
£
£

Raw materials and consumables
1,600
2,300



6.


Debtors

2024
2023
£
£


Trade debtors
119,072
59,937

Other debtors
-
18,902

Prepayments and accrued income
6,331
3,613

125,403
82,452


Page 7

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
77,899
39,771



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,204
9,952

Trade creditors
27,522
44,408

Corporation tax
7,830
-

Other taxation and social security
3,842
3,222

Other creditors
78,392
68,448

Accruals and deferred income
64,907
9,214

192,697
135,244



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,235
22,436



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,204
9,952

Amounts falling due 1-2 years

Bank loans
10,462
10,204

Amounts falling due 2-5 years

Bank loans
1,773
12,232


22,439
32,388


Page 8

 
EMERSON INTERIORS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

11.


Deferred taxation




2024
2023


£

£






At beginning of year
(13,574)
(6,176)


Charged to profit or loss
(8,503)
(7,398)



At end of year
(22,077)
(13,574)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(22,077)
(13,574)


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £83 (2023 - £123). Contributions totalling £Nil (2023 - £6) were payable to the fund at the balance sheet date and are included in creditors


13.


Commitments under operating leases

At 31 May 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
-
5,902

 
Page 9