2023-04-012024-03-312024-03-31false11213694POETIC ENDINGS 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POETIC ENDINGS LTD

Registered Number
11213694
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

POETIC ENDINGS LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Ms Louise Elizabeth Hemmings

Registered Address

37 David's Road
Forest Hill
SE23 3EP

Registered Number

11213694 (England and Wales)
POETIC ENDINGS LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets383,347105,548
83,347105,548
Current assets
Debtors420,92117,349
Cash at bank and on hand55,83947,817
76,76065,166
Creditors amounts falling due within one year5(106,584)(115,598)
Net current assets (liabilities)(29,824)(50,432)
Total assets less current liabilities53,52355,116
Provisions for liabilities6-(7,554)
Net assets53,52347,562
Capital and reserves
Called up share capital100100
Profit and loss account53,42347,462
Shareholders' funds53,52347,562
The financial statements were approved and authorised for issue by the Director on 28 August 2024, and are signed on its behalf by:
Ms Louise Elizabeth Hemmings
Director
Registered Company No. 11213694
POETIC ENDINGS LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
Poetic Endings Ltd is a private company limited by shares and registered in England and Wales. The company's registered number is 11213694 and the registered office is 37 David's Road, Forest Hill, London, SE23 3EP
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £
Turnover policy
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Operating leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Land and buildings-4,209
Fixtures and fittings-2,479
Vehicles16,404-
Office Equipment-771
Impairment of non-financial assets policy
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year43
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 2342,08869,9909,6042,408124,090
Additions--4541,2081,662
At 31 March 2442,08869,99010,0583,616125,752
Depreciation and impairment
At 01 April 238,3824,3744,5541,23218,542
Charge for year4,20916,4042,47977123,863
At 31 March 2412,59120,7787,0332,00342,405
Net book value
At 31 March 2429,49749,2123,0251,61383,347
At 31 March 2333,70665,6165,0501,176105,548
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables5,6475,266
Other debtors7,6984,005
Prepayments and accrued income2,5763,078
Total15,92112,349
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9,4025,267
Bank borrowings and overdrafts25,01635,020
Taxation and social security16,5039,269
Other creditors54,63864,828
Accrued liabilities and deferred income1,0251,214
Total106,584115,598
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-7,554
Total-7,554
7.Share capital
Share Capital 2024 2023 Allotted, Called up and fully paid 100 100 ===== =====