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Registered number: 02666292
Cambery Designs Limited
Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02666292
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,474 5,291
8,474 5,291
CURRENT ASSETS
Stocks 5 95,746 61,652
Debtors 6 88,529 31,392
Cash at bank and in hand 54,459 41,860
238,734 134,904
Creditors: Amounts Falling Due Within One Year 7 (208,560 ) (97,573 )
NET CURRENT ASSETS (LIABILITIES) 30,174 37,331
TOTAL ASSETS LESS CURRENT LIABILITIES 38,648 42,622
Creditors: Amounts Falling Due After More Than One Year 8 (8,163 ) (18,218 )
NET ASSETS 30,485 24,404
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 30,385 24,304
SHAREHOLDERS' FUNDS 30,485 24,404
Page 1
Page 2
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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
Mr M Cambery
Director
03/03/2025
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
Cambery Designs Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02666292 . The registered office is 3 Egerton Terrace, Knightsbridge, London, SW3 2BX.
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. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. 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:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% reducing balance
2.4. 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.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 September 2023 30,031 36,843 18,995 52,354
Additions - 886 - 4,134
As at 31 August 2024 30,031 37,729 18,995 56,488
Depreciation
As at 1 September 2023 30,031 36,843 18,995 49,847
Provided during the period - 177 - 1,660
As at 31 August 2024 30,031 37,020 18,995 51,507
Net Book Value
As at 31 August 2024 - 709 - 4,981
As at 1 September 2023 - - - 2,507
Computer Equipment Total
£ £
Cost
As at 1 September 2023 3,712 141,935
Additions - 5,020
As at 31 August 2024 3,712 146,955
Depreciation
As at 1 September 2023 928 136,644
Provided during the period - 1,837
As at 31 August 2024 928 138,481
Net Book Value
As at 31 August 2024 2,784 8,474
As at 1 September 2023 2,784 5,291
5. Stocks
2024 2023
£ £
Stock 95,746 61,652
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6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 69,933 4,568
Other debtors 9,645 9,170
Corporation tax recoverable assets 4,330 4,330
VAT 4,621 -
Directors' loan accounts - 13,324
88,529 31,392
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 72,025 9,083
Bank loans and overdrafts 10,056 10,056
Other creditors 71,609 11,260
Taxation and social security 54,870 67,174
208,560 97,573
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,163 18,218
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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