Company No: 08974680 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2022		2021
		£		£
Fixed assets
Intangible assets	3	10,637		17,374
Tangible assets	4	36,996		38,308
		47,633		55,682
Current assets
Stocks		134,825		113,763
Debtors	5	112,547		109,609
Cash at bank and in hand		445,746		247,356
		693,118		470,728
Creditors
Amounts falling due within one year	6	( 126,404)		( 119,655)
Net current assets		566,714		351,073
Total assets less current liabilities		614,347		406,755
Creditors
Amounts falling due after more than one year	7	( 35,000)		( 50,000)
Provision for liabilities		( 3,660)		( 2,964)
Net assets		575,687		353,791
Capital and reserves
Called-up share capital	8	10		10
Profit and loss account		575,677		353,781
Total shareholders' funds		575,687		353,791

For the financial year ending 30 April 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Emily Nixon Limited (registered number: 08974680) were approved and authorised for issue by the Board of Directors on 12 January 2023. They were signed on its behalf by:

E M Nixon Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Emily Nixon Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Whites Warehouse, 25 Foundry Square, Hayle, TR27 4HH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill	10 years straight line
Website costs	5 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line, reducing balance basis over its expected useful life, as follows:

Leasehold improvements	10 years straight line
Plant and machinery	25 % reducing balance
Fixtures and fittings	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	3		3

3. Intangible assets

	Goodwill		Website costs		Total
	£		£		£
Cost
At 01 May 2021	38,250		14,561		52,811
At 30 April 2022	38,250		14,561		52,811
Accumulated amortisation
At 01 May 2021	26,775		8,662		35,437
Charge for the financial year	3,825		2,912		6,737
At 30 April 2022	30,600		11,574		42,174
Net book value
At 30 April 2022	7,650		2,987		10,637
At 30 April 2021	11,475		5,899		17,374

4. Tangible assets

	Leasehold improve- ments		Plant and machinery		Fixtures and fittings		Total
	£		£		£		£
Cost
At 01 May 2021	30,415		22,393		3,830		56,638
Additions	0		4,237		684		4,921
At 30 April 2022	30,415		26,630		4,514		61,559
Accumulated depreciation
At 01 May 2021	3,046		13,609		1,675		18,330
Charge for the financial year	3,041		2,497		695		6,233
At 30 April 2022	6,087		16,106		2,370		24,563
Net book value
At 30 April 2022	24,328		10,524		2,144		36,996
At 30 April 2021	27,369		8,784		2,155		38,308

5. Debtors

	2022		2021
	£		£
Trade debtors	8,834		27,505
Amounts owed by directors	90,245		68,831
Prepayments	1,741		1,546
Other debtors	11,727		11,727
	112,547		109,609

6. Creditors: amounts falling due within one year

	2022		2021
	£		£
Bank loans	10,000		0
Trade creditors	22,664		36,143
Accruals	1,600		1,400
Corporation tax	74,908		58,373
Other taxation and social security	12,934		19,072
Other creditors	4,298		4,667
	126,404		119,655

7. Creditors: amounts falling due after more than one year

	2022		2021
	£		£
Bank loans	35,000		50,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
10 Ordinary shares of £ 1.00 each	10		10

9. Related party transactions

Transactions with the entity's directors

	2022		2021
	£		£
Directors loan account:	0		0
At 1 May 2021	68,831		36,296
Advances to director	117,363		123,017
Repayments by director	(95,949)		(90,482)
At 30 April 2022	90,245		68,831