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REGISTERED NUMBER: 02867442 (England and Wales)











Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Poppins Limited

Poppins Limited (Registered number: 02867442)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Poppins Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R J Holman
J A Holman





SECRETARY: J A Holman





REGISTERED OFFICE: Bailey End
Ford Street
Thetford
Norfolk
IP24 2EP





REGISTERED NUMBER: 02867442 (England and Wales)





ACCOUNTANTS: Knights Lowe
Chartered Accountants
The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG

Poppins Limited (Registered number: 02867442)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 450,000 450,000

CURRENT ASSETS
Debtors 5 - 4,756
Cash at bank 1,490 5,678
1,490 10,434
CREDITORS
Amounts falling due within one year 6 7,827 15,783
NET CURRENT LIABILITIES (6,337 ) (5,349 )
TOTAL ASSETS LESS CURRENT LIABILITIES 443,663 444,651

CREDITORS
Amounts falling due after more than one year 7 (204,000 ) (204,000 )

PROVISIONS FOR LIABILITIES 9 (28,368 ) (26,320 )
NET ASSETS 211,295 214,331

CAPITAL AND RESERVES
Called up share capital 10 500 500
Fair value reserve 11 217,280 219,328
Retained earnings (6,485 ) (5,497 )
SHAREHOLDERS' FUNDS 211,295 214,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

Poppins Limited (Registered number: 02867442)

Balance Sheet - continued
29 February 2024


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 12 July 2024 and were signed on its behalf by:





R J Holman - Director


Poppins Limited (Registered number: 02867442)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Poppins 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 33% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

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.


Poppins Limited (Registered number: 02867442)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

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.

Investment property
The investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 450,000 520 450,520
DEPRECIATION
At 1 March 2023
and 29 February 2024 - 520 520
NET BOOK VALUE
At 29 February 2024 450,000 - 450,000
At 28 February 2023 450,000 - 450,000

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 245,648 - 245,648
Cost 204,352 520 204,872
450,000 520 450,520

Poppins Limited (Registered number: 02867442)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

If the investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 204,352 204,352

The investment property was valued on an open market basis on 29 February 2024 by the company directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 4,756

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security - 309
Other creditors 7,827 15,474
7,827 15,783

Other creditors includes £4,736 (2023 - £7,017) due to the directors.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 204,000 204,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 204,000 204,000

The bank loan is secured on the investment property.

Poppins Limited (Registered number: 02867442)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax re fair value
reserve 28,368 26,320
28,368 26,320

Deferred
tax
£   
Balance at 1 March 2023 26,320
Provided during year 2,048
Balance at 29 February 2024 28,368

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
500 Ordinary £1 500 500

11. RESERVES
Fair
value
reserve
£   
At 1 March 2023 219,328
Transfers (2,048 )

At 29 February 2024 217,280