Company Registration No. 3259117 (England and Wales)
Essence Design Limited
Unaudited accounts
for the year ended 31 October 2018
Essence Design Limited
Statement of financial position
as at 31 October 2018
Tangible assets
24,462
11,784
Cash at bank and in hand
31,823
12,018
Creditors: amounts falling due within one year
(21,672)
(25,242)
Net current assets
31,358
12,990
Total assets less current liabilities
57,047
24,874
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
52,183
24,872
Shareholders' funds
52,185
24,874
For the year ending 31 October 2018 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.
Approved by the Board on 9 May 2019.
Steven Wilber
Director
Company Registration No. 3259117
Essence Design Limited
Notes to the Accounts
for the year ended 31 October 2018
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Other
Essence Design Limited
Notes to the Accounts
for the year ended 31 October 2018
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2017
40,407
6,673
47,080
At 31 October 2018
57,402
6,673
64,075
At 1 November 2017
30,464
4,832
35,296
Charge for the year
4,041
276
4,317
At 31 October 2018
34,505
5,108
39,613
At 31 October 2018
22,897
1,565
24,462
At 31 October 2017
9,943
1,841
11,784
6
Investments
Other investments
Valuation at 1 November 2017
100
Valuation at 31 October 2018
100
Trade debtors
21,207
24,690
8
Creditors: amounts falling due within one year
2018
2017
Taxes and social security
19,134
18,089
Loans from directors
1,050
4,097
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Interest at the official rate of 2.5% was charged on the loans. The maximum amount outstanding during the year was £37,214. The loans are repayable on demand.
Essence Design Limited
Notes to the Accounts
for the year ended 31 October 2018
11
Average number of employees
During the year the average number of employees was 2 (2017: 2).
