2 01/10/2023 30/09/2024 2024-09-30 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-10-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 04902045 2023-10-01 2024-09-30 04902045 2024-09-30 04902045 2023-09-30 04902045 2022-10-01 2023-09-30 04902045 2023-09-30 04902045 2022-09-30 04902045 core:LandBuildings core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 04902045 core:PlantMachinery 2023-10-01 2024-09-30 04902045 core:MotorVehicles 2023-10-01 2024-09-30 04902045 bus:RegisteredOffice 2023-10-01 2024-09-30 04902045 bus:LeadAgentIfApplicable 2023-10-01 2024-09-30 04902045 bus:Director1 2023-10-01 2024-09-30 04902045 bus:Director2 2023-10-01 2024-09-30 04902045 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 04902045 core:PlantMachinery 2023-09-30 04902045 core:MotorVehicles 2023-09-30 04902045 core:LandBuildings core:OwnedOrFreeholdAssets 2024-09-30 04902045 core:PlantMachinery 2024-09-30 04902045 core:MotorVehicles 2024-09-30 04902045 core:WithinOneYear 2024-09-30 04902045 core:WithinOneYear 2023-09-30 04902045 core:AfterOneYear 2024-09-30 04902045 core:AfterOneYear 2023-09-30 04902045 core:UKTax 2023-10-01 2024-09-30 04902045 core:ShareCapital 2024-09-30 04902045 core:ShareCapital 2023-09-30 04902045 core:RetainedEarningsAccumulatedLosses 2024-09-30 04902045 core:RetainedEarningsAccumulatedLosses 2023-09-30 04902045 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 04902045 core:PlantMachinery 2023-09-30 04902045 core:MotorVehicles 2023-09-30 04902045 bus:SmallEntities 2023-10-01 2024-09-30 04902045 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 04902045 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04902045 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04902045 bus:FullAccounts 2023-10-01 2024-09-30
Company registration number: 04902045
Euro Shopfitters Limited
Unaudited filleted financial statements
30 September 2024
Euro Shopfitters Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Euro Shopfitters Limited
Directors and other information
Directors K S Johal
P S Johal
Company number 04902045
Registered office 124 - 126 Church Hill
Loughton
Essex
IG10 1LH
Accountants Pollock Taylor Ltd
Chartered Certified Accountants
124 - 126 Church Hill
Loughton
Essex
IG10 1LH
Euro Shopfitters Limited
Statement of financial position
30 September 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 6 604,883 630,349
_________ _________
604,883 630,349
Current assets
Stocks - 231,236
Debtors 7 139,257 99,065
Cash at bank and in hand 28,036 11,449
_________ _________
167,293 341,750
Creditors: amounts falling due
within one year 8 ( 56,515) ( 204,878)
_________ _________
Net current assets 110,778 136,872
_________ _________
Total assets less current liabilities 715,661 767,221
Creditors: amounts falling due
after more than one year 9 ( 678,100) ( 739,510)
Provisions for liabilities ( 4,987) ( 2,638)
_________ _________
Net assets 32,574 25,073
_________ _________
Capital and reserves
Called up share capital 100 100
Profit and loss account 32,474 24,973
_________ _________
Shareholders funds 32,574 25,073
_________ _________
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 22 April 2025 , and are signed on behalf of the board by:
K S Johal
Director
Company registration number: 04902045
Euro Shopfitters Limited
Notes to the financial statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 124 - 126 Church Hill, Loughton, Essex, IG10 1LH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % reducing balance
Plant and machinery - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tax on profit/loss
Major components of tax expense/income
2024 2023
£ £
Current tax:
UK current tax expense 2,616 -
_________ _________
Deferred tax:
Origination and reversal of timing differences 2,349 ( 4,275)
_________ _________
Tax on profit/loss 4,965 ( 4,275)
_________ _________
6. Tangible assets
Freehold property Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 and 30 September 2024 601,138 315,416 18,080 934,634
_________ _________ _________ _________
Depreciation
At 1 October 2023 67,841 220,777 15,667 304,285
Charge for the year 10,666 14,197 603 25,466
_________ _________ _________ _________
At 30 September 2024 78,507 234,974 16,270 329,751
_________ _________ _________ _________
Carrying amount
At 30 September 2024 522,631 80,442 1,810 604,883
_________ _________ _________ _________
At 30 September 2023 533,297 94,639 2,413 630,349
_________ _________ _________ _________
7. Debtors
2024 2023
£ £
Trade debtors 33,334 96,000
Other debtors 105,923 3,065
_________ _________
139,257 99,065
_________ _________
8. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 42,600 42,600
Corporation tax 2,616 -
Social security and other taxes 4,823 18,593
Other creditors 6,476 143,685
_________ _________
56,515 204,878
_________ _________
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 14,800 17,200
Other creditors 663,300 722,310
_________ _________
678,100 739,510
_________ _________