Company Registration No. 08615744 (England and Wales)
EMERALD BROWS LIMITED
Unaudited accounts
for the year ended 31 July 2024
EMERALD BROWS LIMITED
Unaudited accounts
Contents
EMERALD BROWS LIMITED
Company Information
for the year ended 31 July 2024
Director
Jigna Satyen Soni
Company Number
08615744 (England and Wales)
Registered Office
14 BENNETWAY BENNET WAY
AYLESBURY
HP18 1AL
ENGLAND
EMERALD BROWS LIMITED
Statement of financial position
as at 31 July 2024
Cash at bank and in hand
(2,816)
111
Creditors: amounts falling due within one year
(10,147)
(12,223)
Net current assets
5,618
6,469
Total assets less current liabilities
6,227
7,281
Creditors: amounts falling due after more than one year
(6,223)
(7,279)
Called up share capital
1
1
Profit and loss account
3
1
For the year ending 31 July 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 March 2025 and were signed on its behalf by
Jigna Satyen Soni
Director
Company Registration No. 08615744
EMERALD BROWS LIMITED
Notes to the Accounts
for the year ended 31 July 2024
EMERALD BROWS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08615744. The registered office is 14 BENNETWAY BENNET WAY, AYLESBURY, HP18 1AL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
In accordance with their responsibilities as director, the director has considered the appropriateness of the going concern basis for the preparation of the financial statements. With the continuing financial support from the shareholders, the director has reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% on reducing balance
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgement, estimates and assumptions that affect the amounts reported. These estimates and judgement are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The items in the financial statements where these judgement and estimates include assessing the carrying value of investments, recoverability of debtors, current and deferred taxation, depreciation of tangible fixed assets.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
EMERALD BROWS LIMITED
Notes to the Accounts
for the year ended 31 July 2024
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except tothe extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted orsubstantively enacted by the balance sheet date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Rentals paid under operating leases charged to profit and loss on a straight line basis over the period of the lease.
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairement. If objective evidence of impairement is found, an impairement loss is recognised in Profit and Loss Account.
Financial assets and liabilities are offset and the net amount reported in Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairement.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.
Basic financial liabilities, including trade and other creditors, loans from third parties and loan from related parties, are initially recognised at transaction price, unless the arrangement constitues a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairement.
EMERALD BROWS LIMITED
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Other debtors
18,121
18,121
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
8,366
6,412
Loans from directors
631
4,761
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).