Registered number
04303275
Espree Limited
Report and Unaudited Accounts
31 May 2024
Collins
Chartered Accountants
West Midlands
Espree Limited
Registered number: 04303275
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 6,486 8,194
Current assets
Stocks 21,917 24,529
Debtors 4 10,732 12,266
Cash at bank and in hand 4,686 2,734
37,335 39,529
Creditors: amounts falling due within one year 5 (28,412) (30,535)
Net current assets 8,923 8,994
Net assets 15,409 17,188
Capital and reserves
Called up share capital 51 51
Share premium 14,975 14,975
Capital redemption reserve 6 24 24
Profit and loss account 359 2,138
Shareholders' funds 15,409 17,188
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T J Vann
Director
Approved by the board on 20 February 2025
Espree Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets,at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office Equipment 5 years straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office equipment
£
Cost
At 1 June 2023 39,282
Additions 1,201
Disposals (28,533)
At 31 May 2024 11,950
Depreciation
At 1 June 2023 31,088
Charge for the year 2,909
On disposals (28,533)
At 31 May 2024 5,464
Net book value
At 31 May 2024 6,486
At 31 May 2023 8,194
4 Debtors 2024 2023
£ £
Trade debtors 7,268 5,006
Corporation Tax Repayable - 196
Prepayments and accrued income 2,762 6,266
Vat Repayable 702 -
Other Debtors - 798
10,732 12,266
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 25,147 20,920
Other taxes and social security costs 115 50
Directors loans - 6,615
Accruals and deferred income 3,150 2,950
28,412 30,535
6 Capital redemption reserve 2024 2023
£ £
At 1 June 2023 24 24
At 31 May 2024 24 24
7 Pension commitments
The company operates a defined scheme for staff.The assets of the scheme are independent from those of the company. The total contributions paid in the year were £284. (2023 - £241).
8 Other information
Espree Limited is a private company limited by shares and incorporated in England. Its registered office is:
5b The Courtyard,
Redddicap Trading Estate,
Sutton Coldfield
West Midlands
B75 7BU
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