C Erison Interiors Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06484438 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2022

for

C Erison Interiors Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Carole Jane Erison

SECRETARY:

Carole Jane Erison

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

REGISTERED NUMBER:

06484438 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

1,610

2,146

CURRENT ASSETS

Stocks

25,955

-

Debtors

5

-

13,760

Cash at bank

48,329

45,964

74,284

59,724

CREDITORS

Amounts falling due within one year

6

36,272

8,707

NET CURRENT ASSETS

38,012

51,017

TOTAL ASSETS LESS CURRENT LIABILITIES

39,622

53,163

CREDITORS

Amounts falling due after more than one year

7

(36,667

)

(50,000

)

PROVISIONS FOR LIABILITIES

(129

)

(192

)

NET ASSETS

2,826

2,971

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

2,824

2,969

SHAREHOLDERS' FUNDS

2,826

2,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 October 2022 and were signed by:

Carole Jane Erison - Director

1.	STATUTORY INFORMATION

C Erison Interiors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Government grants relating to revenue expenditure 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 March 2021

and 28 February 2022

23,596

14,980

38,576

DEPRECIATION

At 1 March 2021

22,199

14,231

36,430

Charge for year

349

187

536

At 28 February 2022

22,548

14,418

36,966

NET BOOK VALUE

At 28 February 2022

1,048

562

1,610

At 28 February 2021

1,397

749

2,146

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Other debtors

-

13,760

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans and overdrafts

10,000

-

Taxation and social security

25,593

8,418

Other creditors

679

289

36,272

8,707

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.22

28.2.21

£

£

Bank loans

36,667

50,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

36,667

50,000

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.22

28.2.21

value:

£

£

2

Ordinary

£1

2

2

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2022 and 28 February 2021:

28.2.22

28.2.21

£

£

Carole Jane Erison

Balance outstanding at start of year

13,760

(322

)

Amounts repaid

(13,794

)

14,082

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(34

)

13,760

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Carole Jane Erison.