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REGISTERED NUMBER: 09552114 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

THE KNITTING SHED LIMITED

THE KNITTING SHED LIMITED (REGISTERED NUMBER: 09552114)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE KNITTING SHED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Ms L Diggins
Ms N Diggins
P Diggins





REGISTERED OFFICE: Unit B1F
Fairoaks Airport
Chobham
Surrey
GU24 8HU





REGISTERED NUMBER: 09552114 (England and Wales)





ACCOUNTANTS: L E Marshall & Co
Chartered Accountants
Unit B1F
Fairoaks Airport
Chobham
Surrey
GU24 8HU

THE KNITTING SHED LIMITED (REGISTERED NUMBER: 09552114)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,235 894

CURRENT ASSETS
Stocks 11,634 8,917
Debtors 5 184 906
Cash at bank and in hand 8,463 9,432
20,281 19,255
CREDITORS
Amounts falling due within one year 6 2,048 4,071
NET CURRENT ASSETS 18,233 15,184
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,468

16,078

CREDITORS
Amounts falling due after more than one
year

7

29,300

28,239
NET LIABILITIES (9,832 ) (12,161 )

CAPITAL AND RESERVES
Called up share capital 6 6
Retained earnings (9,838 ) (12,167 )
SHAREHOLDERS' FUNDS (9,832 ) (12,161 )

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 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.

THE KNITTING SHED LIMITED (REGISTERED NUMBER: 09552114)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Ms L Diggins - Director


THE KNITTING SHED LIMITED (REGISTERED NUMBER: 09552114)

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

1. STATUTORY INFORMATION

The Knitting Shed 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.

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.

The financial statements have been prepared on the going concern basis as the directors have undertaken to finance the company for the foreseeable future.

Turnover
Turnover represents online sales of goods. Turnover is recognised at the time the order is placed and paid for.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 January 2023 375 725 1,100
Additions - 499 499
Disposals (102 ) - (102 )
At 31 December 2023 273 1,224 1,497
DEPRECIATION
At 1 January 2023 125 81 206
Charge for year 22 136 158
Eliminated on disposal (102 ) - (102 )
At 31 December 2023 45 217 262
NET BOOK VALUE
At 31 December 2023 228 1,007 1,235
At 31 December 2022 250 644 894

THE KNITTING SHED LIMITED (REGISTERED NUMBER: 09552114)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 523
Other debtors 184 383
184 906

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,015 1,836
Other creditors 1,033 2,235
2,048 4,071

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Other creditors 29,300 28,239

8. RELATED PARTY DISCLOSURES

As at the year end the directors were owed £29,299 (2022: £28,239) in respect of their directors loans. This balance is included in other creditors over one year.