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Registered number: 08196157
Weddings By Design (Ea) Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08196157
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 2,932 9,319
2,932 9,319
CURRENT ASSETS
Stocks 6 101,709 101,572
Debtors 7 11,311 -
Cash at bank and in hand 98 578
113,118 102,150
Creditors: Amounts Falling Due Within One Year 8 (594,609 ) (545,303 )
NET CURRENT ASSETS (LIABILITIES) (481,491 ) (443,153 )
TOTAL ASSETS LESS CURRENT LIABILITIES (478,559 ) (433,834 )
Creditors: Amounts Falling Due After More Than One Year 9 - (10,294 )
NET LIABILITIES (478,559 ) (444,128 )
CAPITAL AND RESERVES
Called up share capital 10 133 133
Profit and Loss Account (478,692 ) (444,261 )
SHAREHOLDERS' FUNDS (478,559) (444,128)
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
Mrs Julie Macrae
Director
22nd May 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
Weddings By Design (Ea) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08196157 . The registered office is 16 Short Wyre Street, Colchester, Essex, CO1 1LN.
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 and from the rendering of services. 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.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. 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 25% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 25% Straight Line
Computer Equipment 25% Straight Line
2.5. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 7)
7 7
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4. Intangible Assets
Goodwill
£
Cost
As at 1 September 2023 1
As at 31 August 2024 1
Amortisation
As at 1 September 2023 1
As at 31 August 2024 1
Net Book Value
As at 31 August 2024 -
As at 1 September 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 September 2023 737 20,995 21,418 1,538 44,688
As at 31 August 2024 737 20,995 21,418 1,538 44,688
Depreciation
As at 1 September 2023 161 13,998 19,672 1,538 35,369
Provided during the period 184 5,248 955 - 6,387
As at 31 August 2024 345 19,246 20,627 1,538 41,756
Net Book Value
As at 31 August 2024 392 1,749 791 - 2,932
As at 1 September 2023 576 6,997 1,746 - 9,319
6. Stocks
2024 2023
£ £
Stock 101,709 101,572
7. Debtors
2024 2023
£ £
Due within one year
VAT 863 -
Other taxes and social security 10,448 -
11,311 -
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 63,032 77,954
Bank loans and overdrafts 17,793 9,849
Other taxes and social security - 342
VAT - 1,806
Other creditors 24,925 1,883
Directors' loan accounts 488,859 453,469
594,609 545,303
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans - 10,294
- 10,294
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 133 133
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