Registration number:
Emergent Crown Contract Office Furnishings Limited
for the
Year Ended 31 December 2024
Emergent Crown Contract Office Furnishings Limited
Contents
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Emergent Crown Contract Office Furnishings Limited
Balance Sheet
as at 31 December 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
- |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Allotted, called up and fully paid share capital |
|
|
|
|
Profit and loss account |
|
|
|
|
Shareholders' funds |
|
|
|
Registration number: 02302409
Emergent Crown Contract Office Furnishings Limited
Balance Sheet
as at 31 December 2024 (continued)
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
|
......................................... |
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
|
General information |
The company is a private company limited by shares incorporated in England within the United Kingdom.
The company's registration number is 02302409.
The address of its registered office is:
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises of the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have been transferred to the buyer.
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
(continued)
|
2 |
Accounting policies (continued) |
Government grants
Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Tangible assets
Tangible assets are stated in the balance sheet at cost (or deemed cost), less any accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
(continued)
|
2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Additions to leasehold property |
on a straight line basis over the life of the lease |
|
Fixtures, fittings and equipment |
20% per annum on a reducing balance basis and 25% per annum on a reducing balance basis |
|
Motor vehicles |
25% per annum on a straight line basis |
|
Website development costs |
33.33% per annum on a straight line basis |
|
Warehouse plant and machinery |
10% per annum on a reducing balance basis |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Computer software |
on a straight line basis over 4 years |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. Provision is made for damaged, obsolete and slow-moving stock.
Leases
Rentals in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Hire purchase agreements are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are capitalised and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the ifnance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
(continued)
|
2 |
Accounting policies (continued) |
Defined contribution pension scheme
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions are charged to the profit and loss account.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
(continued)
|
Intangible assets |
|
Computer software |
Total |
|
|
Cost or valuation |
||
|
At 1 January 2024 |
|
|
|
Additions acquired separately |
|
|
|
At 31 December 2024 |
|
|
|
Amortisation |
||
|
At 1 January 2024 |
|
|
|
Amortisation charge |
|
|
|
At 31 December 2024 |
|
|
|
Net book value: |
||
|
At 31 December 2024 |
|
|
|
At 31 December 2023 |
|
|
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
(continued)
|
Tangible assets |
|
Additions to leasehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Website develop-
|
Warehouse plant and machinery |
Total |
|
|
Cost |
||||||
|
At 1 January 2024 |
|
|
|
|
|
|
|
Additions |
- |
|
- |
- |
- |
|
|
At 31 December 2024 |
|
|
|
|
|
|
|
Depreciation |
||||||
|
At 1 January 2024 |
|
|
|
|
|
|
|
Charge for the year |
|
|
|
- |
|
|
|
At 31 December 2024 |
|
|
|
|
|
|
|
Net book value |
||||||
|
At 31 December 2024 |
|
|
|
- |
|
|
|
At 31 December 2023 |
|
|
|
- |
|
|
|
Debtors |
|
Current |
2024 |
2023 |
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
Deferred tax assets |
- |
57,106 |
|
|
|
Emergent Crown Contract Office Furnishings Limited
Notes to the Unaudited Financial Statements
for the
Year Ended 31 December 2024
(continued)
|
Creditors |
|
2024 |
2023 |
|
|
Due within one year |
||
|
Bank borrowings |
10,301 |
10,047 |
|
Trade creditors |
|
|
|
Directors loan accounts |
|
|
|
Taxation and social security |
|
|
|
Pension contributions unpaid |
3,566 |
- |
|
Accruals and deferred income |
|
|
|
Corporation tax |
|
- |
|
|
|
|
|
Due after one year |
||
|
Bank borrowings |
7,880 |
18,183 |
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £