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Registered number: 13774779
The Wool Den Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Prosper Accountancy Solutions Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13774779
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,618 3,236
1,618 3,236
CURRENT ASSETS
Stocks 5 21,905 20,908
Cash at bank and in hand 914 914
22,819 21,822
Creditors: Amounts Falling Due Within One Year 6 (43,190 ) (40,010 )
NET CURRENT ASSETS (LIABILITIES) (20,371 ) (18,188 )
TOTAL ASSETS LESS CURRENT LIABILITIES (18,753 ) (14,952 )
NET LIABILITIES (18,753 ) (14,952 )
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (18,755 ) (14,954 )
SHAREHOLDERS' FUNDS (18,753) (14,952)
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Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Lianne Hayes
Director
07/06/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Wool Den Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13774779 . The registered office is The Yorkshire Hive, Hurst Lane, Auckley, Doncaster , South Yorkshire, DN9 3QY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% SL
Computer Equipment 25% SL
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 4,076 778 4,854
As at 30 November 2023 4,076 778 4,854
Depreciation
As at 1 December 2022 1,359 259 1,618
Provided during the period 1,359 259 1,618
As at 30 November 2023 2,718 518 3,236
...CONTINUED
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Net Book Value
As at 30 November 2023 1,358 260 1,618
As at 1 December 2022 2,717 519 3,236
5. Stocks
2023 2022
£ £
Stock 21,905 20,908
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 3,207
Other loans - 23,802
Other creditors 43,190 13,001
43,190 40,010
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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