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REGISTERED NUMBER: 11387977 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PATTERNS AND PLAINS LTD

PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

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


PATTERNS AND PLAINS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Mrs A J Howard
D Howard





REGISTERED OFFICE: Unit 3 Verity Court
Middlewich
CW10 0GW





REGISTERED NUMBER: 11387977 (England and Wales)





ACCOUNTANTS: Michael Donnan & Co Limited
Oaktree Court Business Ctr
Mill Lane
Ness
Cheshire
CH64 8TP

PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

BALANCE SHEET
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,342 293

CURRENT ASSETS
Stocks 5 34,813 33,385
Debtors 6 1,400 42,495
Cash at bank 902 3,652
37,115 79,532
CREDITORS
Amounts falling due within one year 7 18,444 20,381
NET CURRENT ASSETS 18,671 59,151
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,013

59,444

CREDITORS
Amounts falling due after more than
one year

8

16,355

23,335
NET ASSETS 8,658 36,109

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10 8,656 36,107
SHAREHOLDERS' FUNDS 8,658 36,109

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.

PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

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:





Mrs A J Howard - Director


PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Patterns and Plains 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 (£).


Transactions are rounded to the nearest £.

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 represents sale of goods dispatched, 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.
Fixtures and fittings - at varying rates on cost
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.

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.


PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 216 701 917
Additions 5,487 1,231 6,718
At 31 October 2023 5,703 1,932 7,635
DEPRECIATION
At 1 November 2022 98 526 624
Charge for year 297 372 669
At 31 October 2023 395 898 1,293
NET BOOK VALUE
At 31 October 2023 5,308 1,034 6,342
At 31 October 2022 118 175 293

5. STOCKS
31/10/23 31/10/22
£    £   
Stocks 34,813 33,385

PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 438 481
Other debtors 962 912
Directors' current accounts - 41,094
VAT - 8
1,400 42,495

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 7,241 6,800
Trade creditors 5,599 5,414
Tax 1,741 5,174
VAT 372 -
Directors' current accounts 1,606 -
Accrued expenses 1,885 2,993
18,444 20,381

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans - 1-2 years 7,241 6,800
Bank loans - 2-5 years 9,114 16,535
16,355 23,335

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/10/23 31/10/22
value: £    £   
2 Ordinary £1 2 2

PATTERNS AND PLAINS LTD (REGISTERED NUMBER: 11387977)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


10. RESERVES
Retained
earnings
£   

At 1 November 2022 36,107
Profit for the year 7,049
Dividends (34,500 )
At 31 October 2023 8,656

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31/10/23 31/10/22
£    £   
Mrs A J Howard
Balance outstanding at start of year 41,094 (5,774 )
Amounts advanced - 53,546
Amounts repaid (41,094 ) (6,678 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 41,094

The above advance was subject to interest at 2% per annum, had no fixed repayment date and was unsecured.