13 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 120,000 105,000 12,000 117,000 3,000 15,000 xbrli:pure xbrli:shares iso4217:GBP 06335647 2022-09-01 2023-08-31 06335647 2023-08-31 06335647 2022-08-31 06335647 2021-09-01 2022-08-31 06335647 2022-08-31 06335647 2021-08-31 06335647 core:NetGoodwill 2022-09-01 2023-08-31 06335647 core:FurnitureFittings 2022-09-01 2023-08-31 06335647 core:MotorVehicles 2022-09-01 2023-08-31 06335647 bus:Director1 2022-09-01 2023-08-31 06335647 core:NetGoodwill 2022-08-31 06335647 core:NetGoodwill 2023-08-31 06335647 core:FurnitureFittings 2022-08-31 06335647 core:MotorVehicles 2022-08-31 06335647 core:FurnitureFittings 2023-08-31 06335647 core:MotorVehicles 2023-08-31 06335647 core:WithinOneYear 2023-08-31 06335647 core:WithinOneYear 2022-08-31 06335647 core:ShareCapital 2023-08-31 06335647 core:ShareCapital 2022-08-31 06335647 core:RetainedEarningsAccumulatedLosses 2023-08-31 06335647 core:RetainedEarningsAccumulatedLosses 2022-08-31 06335647 core:NetGoodwill 2022-08-31 06335647 core:FurnitureFittings 2022-08-31 06335647 core:MotorVehicles 2022-08-31 06335647 bus:SmallEntities 2022-09-01 2023-08-31 06335647 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 06335647 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 06335647 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06335647 bus:FullAccounts 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 06335647
PODGY PAWS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 August 2023
PODGY PAWS LIMITED
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
3,000
15,000
Tangible assets
6
41,885
18,057
---------
---------
44,885
33,057
Current assets
Stocks
110,000
108,859
Debtors
7
20,179
7,155
Cash at bank and in hand
150,809
184,239
----------
----------
280,988
300,253
Creditors: amounts falling due within one year
8
111,294
112,478
----------
----------
Net current assets
169,694
187,775
----------
----------
Total assets less current liabilities
214,579
220,832
Provisions
Taxation including deferred tax
11,100
3,431
----------
----------
Net assets
203,479
217,401
----------
----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
203,477
217,399
----------
----------
Shareholders funds
203,479
217,401
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PODGY PAWS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 31 July 2024 , and are signed on behalf of the board by:
P N Harper
Director
Company registration number: 06335647
PODGY PAWS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7B Lakeland Business Park, Lamplugh Road, Cockermouth, Cumbria, CA13 0QT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Corporation tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings
-
15% reducing balance
Motor vehicles
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 12 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2022 and 31 August 2023
120,000
----------
Amortisation
At 1 September 2022
105,000
Charge for the year
12,000
----------
At 31 August 2023
117,000
----------
Carrying amount
At 31 August 2023
3,000
----------
At 31 August 2022
15,000
----------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 September 2022
24,163
16,124
40,287
Additions
4,744
38,499
43,243
Disposals
( 9,999)
( 9,999)
---------
---------
---------
At 31 August 2023
28,907
44,624
73,531
---------
---------
---------
Depreciation
At 1 September 2022
12,023
10,207
22,230
Charge for the year
2,533
6,883
9,416
---------
---------
---------
At 31 August 2023
14,556
17,090
31,646
---------
---------
---------
Carrying amount
At 31 August 2023
14,351
27,534
41,885
---------
---------
---------
At 31 August 2022
12,140
5,917
18,057
---------
---------
---------
7. Debtors
2023
2022
£
£
Other debtors
20,179
7,155
---------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
49,939
60,318
Corporation tax
16,200
Social security and other taxes
32,124
51,477
Other creditors
13,031
683
----------
----------
111,294
112,478
----------
----------
9. Directors' advances, credits and guarantees
Included within other debtors falling due within one year is £19,575 (2022 - £Nil) being the amount owed by the director. Net amounts advanced during the year were £20,258. These amounts were both repaid within nine months of the financial year. The loans were charged the official rate of interest were applicable and were repayable on demand.