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REGISTERED NUMBER: 07768026 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Cuddleco Limited

Cuddleco Limited (Registered number: 07768026)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cuddleco Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: M S Kelly
M M D Klyne





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
M3 2PJ





BUSINESS ADDRESS: Cornbrook, 2 Brindley Road
Old Trafford
Manchester
M16 9HQ





REGISTERED NUMBER: 07768026 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Cuddleco Limited (Registered number: 07768026)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 19,083 -
Tangible assets 5 173,742 179,448
192,825 179,448

CURRENT ASSETS
Stocks 1,871,399 1,926,599
Debtors 6 1,001,866 934,696
Cash at bank and in hand 17,428 8,294
2,890,693 2,869,589
CREDITORS
Amounts falling due within one year 7 2,614,684 2,429,424
NET CURRENT ASSETS 276,009 440,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

468,834

619,613

CREDITORS
Amounts falling due after more than one year 8 - 20,149
NET ASSETS 468,834 599,464

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 468,734 599,364
SHAREHOLDERS' FUNDS 468,834 599,464

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

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

Cuddleco Limited (Registered number: 07768026)

Balance Sheet - continued
31 October 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 30 July 2024 and were signed on its behalf by:





M M D Klyne - Director


Cuddleco Limited (Registered number: 07768026)

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

1. STATUTORY INFORMATION

Cuddleco 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Tangible fixed assets are recorded at cost less accumulated depreciation and accumulated impairment losses.

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.


Cuddleco Limited (Registered number: 07768026)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
The company is reliant on the financial support of its main creditor, Klyne & Klyne Limited. On the assumption of this continuing support, the directors have adopted the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 20,000
At 31 October 2023 20,000
AMORTISATION
Charge for year 917
At 31 October 2023 917
NET BOOK VALUE
At 31 October 2023 19,083

Cuddleco Limited (Registered number: 07768026)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2022 57,036 128,063 83,018 268,117
Additions 20,647 - 18,572 39,219
At 31 October 2023 77,683 128,063 101,590 307,336
DEPRECIATION
At 1 November 2022 8,338 45,658 34,673 88,669
Charge for year 7,304 20,601 17,020 44,925
At 31 October 2023 15,642 66,259 51,693 133,594
NET BOOK VALUE
At 31 October 2023 62,041 61,804 49,897 173,742
At 31 October 2022 48,698 82,405 48,345 179,448

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 November 2022
and 31 October 2023 128,063
DEPRECIATION
At 1 November 2022 45,658
Charge for year 20,601
At 31 October 2023 66,259
NET BOOK VALUE
At 31 October 2023 61,804
At 31 October 2022 82,405

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 877,709 869,826
Other debtors 124,157 64,870
1,001,866 934,696

Cuddleco Limited (Registered number: 07768026)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 71,417 208,392
Hire purchase contracts 20,149 32,734
Trade creditors 351,505 228,923
Taxation and social security 199,215 263,869
Other creditors 1,972,398 1,695,506
2,614,684 2,429,424

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts - 20,149

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 71,417 158,392
Hire purchase contracts 20,149 52,883
91,566 211,275

10. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence:

20232022
££
Amounts due from related partynilnil


Amounts due to related party1,327,1921,007,304