Euforia Limited - Filleted accounts

Registered number

03914510

Euforia Limited

Filleted Accounts

31 December 2024

Euforia Limited
Registered number:		03914510
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		735,416			735,555

Current assets
Stocks		3,563			3,563
Debtors	4	28,432			32,216
Cash at bank and in hand		6,571			6,081
		38,566			41,860

Creditors: amounts falling due within one year	5	(116,195)			(67,358)

Net current liabilities			(77,629)			(25,498)

Total assets less current liabilities			657,787			710,057

Creditors: amounts falling due after more than one year	6		(1,146,871)			(1,200,511)



Net liabilities			(489,084)			(490,454)

Capital and reserves
Called up share capital			100,000			100,000
Revaluation reserve	7		448,679			448,679
Profit and loss account			(1,037,763)			(1,039,133)

Shareholder's funds			(489,084)			(490,454)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




PA Restaino
Director
Approved by the board on 29 September 2025

Euforia Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	The accounts have been prepared on a going concern basis which is dependent on the continuing support of the company's director and shareholder. The director has indicated his willingness to continue to provide this support for the forseeable future.

	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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings			Nil
	Plant and machinery			25% pa reducing balance
	Motor vehicles			25% pa reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					9		8


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	735,000		68,435		6,277		809,712
	At 31 December 2024	735,000		68,435		6,277		809,712

	Depreciation
	At 1 January 2024	-		68,435		5,722		74,157
	Charge for the year	-		-		139		139
	At 31 December 2024	-		68,435		5,861		74,296

	Net book value
	At 31 December 2024	735,000		-		416		735,416
	At 31 December 2023	735,000		-		555		735,555


	Freehold land and buildings:					2024		2023
£							£
	Historical cost					286,321		286,321
	Cumulative depreciation based on historical cost					-		-
						286,321		286,321
	The freehold property at 10 Merton Park Parade, London SW19 3NT, was valued on 2 June 2021 by Kinleigh Folkard & Hayward. The basis of valuation used was open market value.


4	Debtors					2024		2023
£							£

	Other debtors					28,432		32,216


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loans and overdrafts					6,340		6,200
	Trade creditors					16,410		17,688
	Taxation and social security costs					82,530		30,520
	Other creditors					10,915		12,950
						116,195		67,358


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					32,312		39,059
	Other creditors					1,114,559		1,161,452
						1,146,871		1,200,511


7	Revaluation reserve					2024		2023
£							£

	At 1 January 2024					448,679		448,679

	At 31 December 2024					448,679		448,679


8	Other information

	Euforia Limited is a private company limited by shares and incorporated in England. Its registered office is:
	10 Merton Park Parade
	Kingston Road
	Wimbledon
	London
	SW19 3NT