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REGISTERED NUMBER: 08182199 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 January 2023

for

Chloes Creative Cards Limited

Chloes Creative Cards Limited (Registered number: 08182199)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Chloes Creative Cards Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: Miss C Endean
Mrs C Endean





REGISTERED OFFICE: 25 Lancashire Drive
Belmont
Durham City
Co. Durham
DH1 2DE





REGISTERED NUMBER: 08182199 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

Chloes Creative Cards Limited (Registered number: 08182199)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 14,251 20,341
14,251 20,341

CURRENT ASSETS
Stocks 224,111 205,590
Debtors 7 4,533 1,634
Cash at bank and in hand 47,578 98,687
276,222 305,911
CREDITORS
Amounts falling due within one year 8 169,406 184,731
NET CURRENT ASSETS 106,816 121,180
TOTAL ASSETS LESS CURRENT
LIABILITIES

121,067

141,521

PROVISIONS FOR LIABILITIES 3,865 3,865
NET ASSETS 117,202 137,656

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 117,102 137,556
117,202 137,656

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:




Miss C Endean - Director Mr D Endean Deceased - Director




Mrs C Endean - Director


Chloes Creative Cards Limited (Registered number: 08182199)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Chloes Creative Cards 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 and represents amounts receivable for craft supplies retail sales stated net of discounts and of value added tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the company.

Intangible fixed assets
Intangible fixed assets are stated at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is charged so as to allocate the cost of intangible assets less their residual values over their useful economic life, using the straight line method.

The intangible assets are amortised over the following useful economic lives:

Goodwill - 5 years

In the opinion of the directors this represents the period over which the goodwill is effective.

If there are indicators that the residual value or useful life of an intangible asset has changed since the most recent annual reporting period previous estimates shall be reviewed and, if current expectations differ the residual value, amortisation method or useful life shall be amended. Changes in the expected useful life of the expected pattern of consumption of benefit shall be accounted for as a change in accounting estimate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit and loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Stocks
Stocks are measured at the lower of cost and estimated selling price less cost to complete and sell. Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to their present location and condition.

Chloes Creative Cards Limited (Registered number: 08182199)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

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 and 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.

Current and deferred tax assets and liabilities are not discounted.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
Short term employee benefits are recognised as an expense in the period in which they are incurred.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 150,000
AMORTISATION
At 1 February 2022
and 31 January 2023 150,000
NET BOOK VALUE
At 31 January 2023 -
At 31 January 2022 -

Chloes Creative Cards Limited (Registered number: 08182199)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2022 10,796 7,087 1,409
Disposals - - -
At 31 January 2023 10,796 7,087 1,409
DEPRECIATION
At 1 February 2022 2,052 6,352 1,292
Charge for year 874 182 28
Eliminated on disposal - - -
At 31 January 2023 2,926 6,534 1,320
NET BOOK VALUE
At 31 January 2023 7,870 553 89
At 31 January 2022 8,744 735 117

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2022 25,651 24,251 69,194
Disposals (25,651 ) - (25,651 )
At 31 January 2023 - 24,251 43,543
DEPRECIATION
At 1 February 2022 23,367 15,790 48,853
Charge for year 429 2,722 4,235
Eliminated on disposal (23,796 ) - (23,796 )
At 31 January 2023 - 18,512 29,292
NET BOOK VALUE
At 31 January 2023 - 5,739 14,251
At 31 January 2022 2,284 8,461 20,341

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 4,533 1,634

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 28,840 8,891
Taxation and social security 22,882 53,441
Other creditors 117,684 122,399
169,406 184,731