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REGISTERED NUMBER: 05067937 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Precious Soles Limited

Precious Soles Limited (Registered number: 05067937)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Precious Soles Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: P G Varnavas
Mrs E Varnavas





REGISTERED OFFICE: 171 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW





REGISTERED NUMBER: 05067937 (England and Wales)





ACCOUNTANTS: Venture Consulting (UK) Ltd
52 Bluebridge Road
Brookmans Park
Hatfield
Hertfordshire
AL9 7SA

Precious Soles Limited (Registered number: 05067937)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,529 98,265

CURRENT ASSETS
Stocks 180,277 57,485
Debtors 5 226,967 158,682
Cash at bank and in hand 11,817 9,478
419,061 225,645
CREDITORS
Amounts falling due within one year 6 90,611 98,135
NET CURRENT ASSETS 328,450 127,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

409,979

225,775

CREDITORS
Amounts falling due after more than one year 7 327,306 200,628
NET ASSETS 82,673 25,147

CAPITAL AND RESERVES
Called up share capital 100,051 51
Retained earnings (17,378 ) 25,096
SHAREHOLDERS' FUNDS 82,673 25,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2024 and were signed on its behalf by:





P G Varnavas - Director


Precious Soles Limited (Registered number: 05067937)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Precious Soles 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.

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 6 ) .

Precious Soles Limited (Registered number: 05067937)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022 166,148
Additions 204
At 30 June 2023 166,352
DEPRECIATION
At 1 July 2022 67,883
Charge for year 16,940
At 30 June 2023 84,823
NET BOOK VALUE
At 30 June 2023 81,529
At 30 June 2022 98,265

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 57,835 18,198
Other debtors 169,132 140,484
226,967 158,682

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 42,042 53,610
Taxation and social security 10,688 15,291
Other creditors 37,881 29,234
90,611 98,135

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans 163,694 195,617
Other creditors 163,612 5,011
327,306 200,628

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr (BBL) 37,203 43,795
Other bank loan - MF 73,970 85,280
111,173 129,075