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REGISTERED NUMBER: 01680342 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

KATERINA FASHIONS LTD

KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 508,714 502,625

CURRENT ASSETS
Stocks 22,500 35,000
Debtors 5 1,078 766
Cash at bank and in hand 12,065 4,374
35,643 40,140
CREDITORS
Amounts falling due within one year 6 39,899 35,334
NET CURRENT (LIABILITIES)/ASSETS (4,256 ) 4,806
TOTAL ASSETS LESS CURRENT
LIABILITIES

504,458

507,431

CREDITORS
Amounts falling due after more than one
year

7

(255,711

)

(280,611

)

PROVISIONS FOR LIABILITIES 8 (3,265 ) (3,641 )
NET ASSETS 245,482 223,179

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 245,382 223,079
SHAREHOLDERS' FUNDS 245,482 223,179

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 her 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.

KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

BALANCE SHEET - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





Mrs M Hobbs - Director


KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

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


1. STATUTORY INFORMATION

Katerina Fashions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01680342

Registered office: 2a Doddington Road
Chatteris
Cambridgeshire
PE16 6UA

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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns,rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings
Borrowings are recognised initially at fair value, net of transaction costs. Borrowings are subsequently carried at amortised cost, with any difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings repayable after more than one year from the balance sheet date are not discounted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2023 481,943 178,924 1,053 6,950 668,870
Additions 8,341 2,100 - - 10,441
At 31 December 2023 490,284 181,024 1,053 6,950 679,311
DEPRECIATION
At 1 January 2023 - 159,660 381 6,204 166,245
Charge for year - 4,068 135 149 4,352
At 31 December 2023 - 163,728 516 6,353 170,597
NET BOOK VALUE
At 31 December 2023 490,284 17,296 537 597 508,714
At 31 December 2022 481,943 19,264 672 746 502,625

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,078 766

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 2,690
Taxation and social security 15,772 9,542
Other creditors 24,127 23,102
39,899 35,334

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 255,711 280,611

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 249,102 264,072

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 3,265 3,641

KATERINA FASHIONS LTD (REGISTERED NUMBER: 01680342)

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


8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 3,641
Credit to Statement of Income and Retained Earnings during year (376 )
Balance at 31 December 2023 3,265

9. CALLED UP SHARE CAPITAL

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

10. RELATED PARTY DISCLOSURES

Included in creditors falling due after more than one year is a loan to the company from the director amounting £249,102 (2022 - £264,072).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs M Hobbs.