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Company Registration No. 3259117 (England and Wales)
Essence Design Limited Unaudited accounts for the year ended 31 October 2024
Essence Design Limited Statement of financial position as at 31 October 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
18,610 
17,827 
Current assets
Debtors
25,120 
12,513 
Cash at bank and in hand
30,892 
72,734 
56,012 
85,247 
Creditors: amounts falling due within one year
(26,545)
(50,753)
Net current assets
29,467 
34,494 
Total assets less current liabilities
48,077 
52,321 
Creditors: amounts falling due after more than one year
- 
(632)
Provisions for liabilities
Deferred tax
(3,535)
(3,705)
Net assets
44,542 
47,984 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
44,540 
47,982 
Shareholders' funds
44,542 
47,984 
For the year ending 31 October 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 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 of Directors and authorised for issue on 20 June 2025 and were signed on its behalf by
Regine Wilber Director Company Registration No. 3259117
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Essence Design Limited Notes to the Accounts for the year ended 31 October 2024
1
Statutory information
Essence Design Limited is a private company, limited by shares, registered in England and Wales, registration number 3259117.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Fixtures & fittings
15% reducing balance
Deferred taxation
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.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
- 3 -
Essence Design Limited Notes to the Accounts for the year ended 31 October 2024
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2023
61,733 
12,157 
73,890 
Additions
3,010 
791 
3,801 
At 31 October 2024
64,743 
12,948 
77,691 
Depreciation
At 1 November 2023
47,828 
8,235 
56,063 
Charge for the year
2,420 
598 
3,018 
At 31 October 2024
50,248 
8,833 
59,081 
Net book value
At 31 October 2024
14,495 
4,115 
18,610 
At 31 October 2023
13,905 
3,922 
17,827 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
24,920 
12,513 
Accrued income and prepayments
200 
- 
25,120 
12,513 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
4,194 
2,585 
Obligations under finance leases and hire purchase contracts
- 
689 
Trade creditors
919 
787 
Taxes and social security
7,542 
7,765 
Other creditors
632 
- 
Loans from directors
12,473 
38,365 
Accruals
785 
562 
26,545 
50,753 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
632 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
- 4 -
Essence Design Limited Notes to the Accounts for the year ended 31 October 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 5 -