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REGISTERED NUMBER: 09420144 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Popti Ltd

Popti Ltd (Registered number: 09420144)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Popti Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: R W Harding





REGISTERED OFFICE: Norton Barton
Launcells
Bude
Cornwall
EX23 9LG





REGISTERED NUMBER: 09420144 (England and Wales)





ACCOUNTANTS: Peter Hodgson & Co.
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Popti Ltd (Registered number: 09420144)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 131,430 129,574

CURRENT ASSETS
Inventories 5 32,527 19,506
Debtors 6 71,413 60,876
Cash at bank 20,664 50,099
124,604 130,481
CREDITORS
Amounts falling due within one year 7 50,236 53,117
NET CURRENT ASSETS 74,368 77,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

205,798

206,938

CREDITORS
Amounts falling due after more than one
year

8

(239,679

)

(265,794

)

PROVISIONS FOR LIABILITIES 9 (9,768 ) (3,109 )
NET LIABILITIES (43,649 ) (61,965 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (43,749 ) (62,065 )
SHAREHOLDERS' FUNDS (43,649 ) (61,965 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Popti Ltd (Registered number: 09420144)

Statement of Financial Position - continued
31 December 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 director and authorised for issue on 5 September 2024 and were signed by:





R W Harding - Director


Popti Ltd (Registered number: 09420144)

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

1. STATUTORY INFORMATION

Popti 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.

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.

Significant judgements and estimates
There are no significant judgements or estimates pertaining to these accounts.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, 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.
Short leasehold - 15 years
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on reducing balance

Stocks
Inventories 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Functional currency
The company's functional currency is £ Sterling.

Financial instruments
Basic financial instruments comprising debtors, bank and cash balances are recorded at fair value.

Popti Ltd (Registered number: 09420144)

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

2. ACCOUNTING POLICIES - continued

Grants received
Grants received are being recognised in the profit and loss account over a period of 10 years.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short Plant and and
leasehold machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 285,556 95,994 7,870 389,420
Additions - 31,194 - 31,194
At 31 December 2023 285,556 127,188 7,870 420,614
DEPRECIATION
At 1 January 2023 200,844 54,671 4,331 259,846
Charge for year 19,037 7,251 3,050 29,338
At 31 December 2023 219,881 61,922 7,381 289,184
NET BOOK VALUE
At 31 December 2023 65,675 65,266 489 131,430
At 31 December 2022 84,712 41,323 3,539 129,574

5. INVENTORIES
2023 2022
£    £   
Stocks 32,527 19,506

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 68,433 56,997
VAT 2,414 3,879
Prepayments 566 -
71,413 60,876

Popti Ltd (Registered number: 09420144)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,200 8,640
Trade creditors 19,156 14,206
Tax 6,313 7,329
Social security and other taxes - 425
Deferred grants 16,417 16,417
Accrued expenses 1,150 6,100
50,236 53,117

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 13,497 18,104
Due to related parties 187,920 193,010
Deferred grants 38,262 54,680
239,679 265,794

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 9,768 3,109

Deferred
tax
£   
Balance at 1 January 2023 3,109
Provided during year 6,659
Balance at 31 December 2023 9,768

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1 January 2023 (62,065 )
Profit for the year 18,316
At 31 December 2023 (43,749 )