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Registration number: 07319293

Katswhiskers Creative Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2023

 

Katswhiskers Creative Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Katswhiskers Creative Ltd

Company Information

Directors

Mrs Sarah Lipscombe

Mr Michael Ian Titterton

Registered office

The Pill Box Unit 3.01
115 Coventry Road
London
E2 6GG

Accountants

Mr Barry Haynes
Accountant
4 Brockenhurst Drive
Stanford Le Hope
Essex
SS17 0NL

 

Katswhiskers Creative Ltd

(Registration number: 07319293)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

20,806

26,006

Current assets

 

Stocks

5

10,000

-

Debtors

6

7,181

757

Cash at bank and in hand

 

1,097

22,810

 

18,278

23,567

Creditors: Amounts falling due within one year

7

(7,180)

(3,244)

Net current assets

 

11,098

20,323

Net assets

 

31,904

46,329

Capital and reserves

 

Called up share capital

8

10

10

Retained earnings

31,894

46,319

Shareholders' funds

 

31,904

46,329

For the financial year ending 31 July 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 April 2024 and signed on its behalf by:
 

 

Katswhiskers Creative Ltd

(Registration number: 07319293)
Balance Sheet as at 31 July 2023

.........................................
Mr Michael Ian Titterton
Director

 

Katswhiskers Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
The Pill Box Unit 3.01
115 Coventry Road
London
E2 6GG
England

These financial statements were authorised for issue by the Board on 16 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Katswhiskers Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Katswhiskers Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 2).

 

Katswhiskers Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

15,465

102,771

118,236

At 31 July 2023

15,465

102,771

118,236

Depreciation

At 1 August 2022

9,131

83,099

92,230

Charge for the year

1,266

3,934

5,200

At 31 July 2023

10,397

87,033

97,430

Carrying amount

At 31 July 2023

5,068

15,738

20,806

At 31 July 2022

6,334

19,672

26,006

5

Stocks

2023
£

2022
£

Work in progress

10,000

-

6

Debtors

Current

2023
£

2022
£

Other debtors

7,181

757

 

7,181

757

7

Creditors

Creditors: amounts falling due within one year

 

Katswhiskers Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

2023
£

2022
£

Due within one year

Trade creditors

6,955

-

Taxation and social security

209

2,728

Other creditors

16

516

7,180

3,244

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £100 each

10

1,000

10

1,000

       

9

Dividends

2023

2022

£

£

Final dividend of £Nil (2022 - £400.00) per ordinary share

10,000

24,000

 

 

10

Related party transactions

 

Katswhiskers Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

14,400

26,997

Contributions paid to money purchase schemes

-

120

14,400

27,117