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REGISTERED NUMBER: 11359354 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 May 2023

for

Spots & Stripes Products Ltd

Spots & Stripes Products Ltd (Registered number: 11359354)






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


Spots & Stripes Products Ltd

Company Information
For The Year Ended 31 May 2023







DIRECTOR: Ms C F Fidler





REGISTERED OFFICE: The Hatch High Street
Seend
Melksham
Wiltshire
SN12 6NW





REGISTERED NUMBER: 11359354 (England and Wales)





ACCOUNTANTS: Danbro Accounting Ltd
Jubilee House
East Beach
Lytham St.annes
Lancashire
FY8 5FT

Spots & Stripes Products Ltd (Registered number: 11359354)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 59,876 21,118
Tangible assets 5 270 445
60,146 21,563

CURRENT ASSETS
Stocks 6 86,778 60,004
Debtors 7 22,877 5,053
Cash at bank 69,662 163,691
179,317 228,748
CREDITORS
Amounts falling due within one year 8 63,839 100,627
NET CURRENT ASSETS 115,478 128,121
TOTAL ASSETS LESS CURRENT
LIABILITIES

175,624

149,684

CREDITORS
Amounts falling due after more than one
year

9

(28,212

)

(37,783

)

PROVISIONS FOR LIABILITIES 10 (52 ) (85 )
NET ASSETS 147,360 111,816

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 147,260 111,716
SHAREHOLDERS' FUNDS 147,360 111,816

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 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.

Spots & Stripes Products Ltd (Registered number: 11359354)

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 director and authorised for issue on 6 February 2024 and were signed by:





Ms C F Fidler - Director


Spots & Stripes Products Ltd (Registered number: 11359354)

Notes to the Financial Statements
For The Year Ended 31 May 2023

1. STATUTORY INFORMATION

Spots & Stripes Products Ltd 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.

The financial statement have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
These financial statements are prepared on a going concern basis. The Directors have every expectation that the company will continue in operational existence for the foreseeable future and meet its liabilities as they fall due.

Thus the Directors consider it appropriate to prepare these financial statements on a going concern basis.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are showing within borrowings in current liabilities.

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

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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

Spots & Stripes Products Ltd (Registered number: 11359354)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments; and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measure at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividend payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Spots & Stripes Products Ltd (Registered number: 11359354)

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

2. ACCOUNTING POLICIES - continued
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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The costs of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2022 23,306
Additions 45,654
At 31 May 2023 68,960
AMORTISATION
At 1 June 2022 2,188
Charge for year 6,896
At 31 May 2023 9,084
NET BOOK VALUE
At 31 May 2023 59,876
At 31 May 2022 21,118

Spots & Stripes Products Ltd (Registered number: 11359354)

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

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 June 2022 988
Additions 167
At 31 May 2023 1,155
DEPRECIATION
At 1 June 2022 543
Charge for year 342
At 31 May 2023 885
NET BOOK VALUE
At 31 May 2023 270
At 31 May 2022 445

6. STOCKS
2023 2022
£    £   
Stocks 86,778 60,004

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 524 2,466
Other debtors 22,353 2,587
22,877 5,053

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 11,040 17,503
Taxation and social security 26,061 57,750
Other creditors 16,090 14,726
63,839 100,627

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 28,212 37,783

Spots & Stripes Products Ltd (Registered number: 11359354)

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

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 52 85

Deferred
tax
£   
Balance at 1 June 2022 85
Provided during year (33 )
Balance at 31 May 2023 52

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,500 A Ordinary £95 95 100
500 B Ordinary £5 5 -
100 100