Idyll Home Limited 30/06/2019 iXBRL

Idyll Home Limited 30/06/2019 iXBRL

IDYLL HOME LIMITED - Company Information

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30/06/2019 2019-06-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-07-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 08580611 2018-07-01 2019-06-30 08580611 2019-06-30 08580611 2018-06-30 08580611 2017-07-01 2018-06-30 08580611 2018-06-30 08580611 core:NetGoodwill 2018-07-01 2019-06-30 08580611 core:FurnitureFittingsToolsEquipment 2018-07-01 2019-06-30 08580611 bus:Director1 2018-07-01 2019-06-30 08580611 core:NetGoodwill 2019-06-30 08580611 core:FurnitureFittingsToolsEquipment 2018-06-30 08580611 core:PlantMachinery 2019-06-30 08580611 core:FurnitureFittingsToolsEquipment 2019-06-30 08580611 core:WithinOneYear 2019-06-30 08580611 core:WithinOneYear 2018-06-30 08580611 core:AfterOneYear 2019-06-30 08580611 core:AfterOneYear 2018-06-30 08580611 core:ShareCapital 2019-06-30 08580611 core:ShareCapital 2018-06-30 08580611 core:RetainedEarningsAccumulatedLosses 2019-06-30 08580611 core:RetainedEarningsAccumulatedLosses 2018-06-30 08580611 core:PlantMachinery 2018-07-01 2019-06-30 08580611 core:NetGoodwill 2018-06-30 08580611 core:FurnitureFittingsToolsEquipment 2018-06-30 08580611 bus:Director1 2018-06-30 08580611 bus:Director1 2019-06-30 08580611 bus:Director1 2017-06-30 08580611 bus:Director1 2018-06-30 08580611 bus:Director1 2017-07-01 2018-06-30 08580611 bus:SmallEntities 2018-07-01 2019-06-30 08580611 bus:AuditExempt-NoAccountantsReport 2018-07-01 2019-06-30 08580611 bus:FullAccounts 2018-07-01 2019-06-30 08580611 bus:SmallCompaniesRegimeForAccounts 2018-07-01 2019-06-30 08580611 bus:PrivateLimitedCompanyLtd 2018-07-01 2019-06-30
Company registration number: 08580611
Idyll Home Limited
Unaudited filleted financial statements
30 June 2019
Idyll Home Limited
Contents
Balance sheet
Notes to the financial statements
Idyll Home Limited
Balance sheet
30 June 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 5,767 1,277
_______ _______
5,767 1,277
Current assets
Stocks 24,595 21,535
Debtors 7 8,504 7,810
Cash at bank and in hand 1,185 10,694
_______ _______
34,284 40,039
Creditors: amounts falling due
within one year 8 ( 30,169) ( 30,704)
_______ _______
Net current assets 4,115 9,335
_______ _______
Total assets less current liabilities 9,882 10,612
Creditors: amounts falling due
after more than one year 9 ( 1,434) ( 2,917)
_______ _______
Net assets 8,448 7,695
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 8,447 7,694
_______ _______
Shareholder funds 8,448 7,695
_______ _______
For the year ending 30 June 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 October 2019 , and are signed on behalf of the board by:
Mrs Claire Krier
Director
Company registration number: 08580611
Idyll Home Limited
Notes to the financial statements
Year ended 30 June 2019
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Brook House, 18 Salford, Audlem, Cheshire, CW3 0AZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2018: 2 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 July 2018 and 30 June 2019 24,250 24,250
_______ _______
Amortisation
At 1 July 2018 and 30 June 2019 24,250 24,250
_______ _______
Carrying amount
At 30 June 2019 - -
_______ _______
At 30 June 2018 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 July 2018 - 3,957 3,957
Additions 5,521 - 5,521
_______ _______ _______
At 30 June 2019 5,521 3,957 9,478
_______ _______ _______
Depreciation
At 1 July 2018 - 2,680 2,680
Charge for the year 715 316 1,031
_______ _______ _______
At 30 June 2019 715 2,996 3,711
_______ _______ _______
Carrying amount
At 30 June 2019 4,806 961 5,767
_______ _______ _______
At 30 June 2018 - 1,277 1,277
_______ _______ _______
7. Debtors
2019 2018
£ £
Trade debtors 8,075 7,565
Other debtors 429 245
_______ _______
8,504 7,810
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 9,181 8,251
Trade creditors 13,168 18,355
Corporation tax 2,908 -
Social security and other taxes 4,744 3,971
Other creditors 168 127
_______ _______
30,169 30,704
_______ _______
9. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts 1,434 2,917
_______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mrs Claire Krier ( 108) ( 18) ( 126)
_______ _______ _______
2018
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mrs Claire Krier ( 6,402) 6,294 ( 108)
_______ _______ _______