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REGISTERED NUMBER: 02549823















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Huggables Limited

Huggables Limited (Registered number: 02549823)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 6

Huggables Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: N Chidlaw
Mrs J Chidlaw





REGISTERED OFFICE: 3-5,Westcliffe Drive,
Blackpool
FY3 7BJ





REGISTERED NUMBER: 02549823





ACCOUNTANTS: Mills & Burns Limited
T/A NPM Accounting Services
Layton House
3-5 Westcliffe Drive
Layton
Blackpool
Lancashire
FY3 7BJ

Huggables Limited (Registered number: 02549823)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 47,671 51,697
47,671 51,697

CURRENT ASSETS
Stocks 420,335 193,301
Debtors 5 410,822 278,844
Cash at bank and in hand 14,678 44,974
845,835 517,119
CREDITORS
Amounts falling due within one year 6 479,202 231,709
NET CURRENT ASSETS 366,633 285,410
TOTAL ASSETS LESS CURRENT
LIABILITIES

414,304

337,107

CREDITORS
Amounts falling due after more than one
year

7

54,000

85,599
NET ASSETS 360,304 251,508

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 360,204 251,408
SHAREHOLDERS' FUNDS 360,304 251,508

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Huggables Limited (Registered number: 02549823)

Balance Sheet - continued
31 May 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





N Chidlaw - Director


Huggables Limited (Registered number: 02549823)

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

1. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of nineteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 19,000
AMORTISATION
At 1 June 2022
and 31 May 2023 19,000
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

Huggables Limited (Registered number: 02549823)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022 114,732 20,000 7,105 141,837
Additions 3,180 - 890 4,070
At 31 May 2023 117,912 20,000 7,995 145,907
DEPRECIATION
At 1 June 2022 81,565 2,500 6,075 90,140
Charge for year 3,375 4,721 - 8,096
At 31 May 2023 84,940 7,221 6,075 98,236
NET BOOK VALUE
At 31 May 2023 32,972 12,779 1,920 47,671
At 31 May 2022 33,167 17,500 1,030 51,697

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 396,926 271,873
Other debtors 13,896 6,971
410,822 278,844

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 14,734 12,400
Trade creditors 164,277 82,710
Taxation and social security 137,232 92,512
Other creditors 162,959 44,087
479,202 231,709

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 54,000 85,599

Huggables Limited

Report of the Accountants to the Directors of
Huggables Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Mills & Burns Limited
T/A NPM Accounting Services
Layton House
3-5 Westcliffe Drive
Layton
Blackpool
Lancashire
FY3 7BJ


9 November 2023