Espree Limited |
Registered number: |
04303275 |
Balance Sheet |
as at 31 May 2024 |
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Notes |
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2024 |
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2023 |
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£ |
£ |
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£ |
£ |
Fixed assets |
Tangible assets |
3 |
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6,486 |
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8,194 |
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Current assets |
Stocks |
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21,917 |
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24,529 |
Debtors |
4 |
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10,732 |
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12,266 |
Cash at bank and in hand |
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4,686 |
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2,734 |
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37,335 |
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39,529 |
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Creditors: amounts falling due within one year |
5 |
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(28,412) |
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(30,535) |
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Net current assets |
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8,923 |
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8,994 |
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Net assets |
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15,409 |
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17,188 |
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Capital and reserves |
Called up share capital |
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51 |
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51 |
Share premium |
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14,975 |
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14,975 |
Capital redemption reserve |
6 |
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24 |
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24 |
Profit and loss account |
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359 |
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2,138 |
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Shareholders' funds |
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15,409 |
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17,188 |
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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. |
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T J Vann |
Director |
Approved by the board on 20 February 2025 |
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Espree Limited |
Notes to the Accounts |
for the year ended 31 May 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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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. |
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Turnover |
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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 |
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Tangible fixed assets |
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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: |
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Office Equipment |
5 years straight line |
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Stocks |
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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. |
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Taxation |
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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. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Tangible fixed assets |
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Office equipment |
£ |
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Cost |
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At 1 June 2023 |
39,282 |
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Additions |
1,201 |
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Disposals |
(28,533) |
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At 31 May 2024 |
11,950 |
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Depreciation |
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At 1 June 2023 |
31,088 |
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Charge for the year |
2,909 |
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On disposals |
(28,533) |
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At 31 May 2024 |
5,464 |
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Net book value |
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At 31 May 2024 |
6,486 |
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At 31 May 2023 |
8,194 |
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4 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Trade debtors |
7,268 |
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5,006 |
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Corporation Tax Repayable |
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- |
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196 |
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Prepayments and accrued income |
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2,762 |
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6,266 |
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Vat Repayable |
702 |
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- |
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Other Debtors |
- |
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798 |
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10,732 |
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12,266 |
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5 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Trade creditors |
25,147 |
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20,920 |
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Other taxes and social security costs |
115 |
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50 |
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Directors loans |
- |
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6,615 |
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Accruals and deferred income |
3,150 |
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2,950 |
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28,412 |
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30,535 |
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6 |
Capital redemption reserve |
2024 |
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2023 |
£ |
£ |
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At 1 June 2023 |
24 |
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24 |
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At 31 May 2024 |
24 |
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24 |
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7 |
Pension commitments |
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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). |
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8 |
Other information |
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Espree Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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5b The Courtyard, |
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Redddicap Trading Estate, |
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Sutton Coldfield |
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West Midlands |
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B75 7BU |