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REGISTERED NUMBER: 02549823















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Huggables Limited

Huggables Limited (Registered number: 02549823)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Huggables Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: N Chidlaw
Mrs J Chidlaw





REGISTERED OFFICE: 3-5,Westcliffe Drive,
Blackpool
FY3 7BJ





REGISTERED NUMBER: 02549823





ACCOUNTANTS: Mills & Burns Limited
T/A NPM Accounting Services
Layton House
3-5 Westcliffe Drive
Layton
Blackpool
Lancashire
FY3 7BJ

Huggables Limited (Registered number: 02549823)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Tangible assets 4 44,264 47,671
44,264 47,671

CURRENT ASSETS
Stocks 323,064 420,335
Debtors 5 487,354 410,822
Cash at bank and in hand 19,620 14,678
830,038 845,835
CREDITORS
Amounts falling due within one year 6 287,551 479,202
NET CURRENT ASSETS 542,487 366,633
TOTAL ASSETS LESS CURRENT
LIABILITIES

586,751

414,304

CREDITORS
Amounts falling due after more than one year 7 36,000 54,000
NET ASSETS 550,751 360,304

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 550,651 360,204
SHAREHOLDERS' FUNDS 550,751 360,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

Huggables Limited (Registered number: 02549823)

Balance Sheet - continued
31 May 2024


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 1 October 2024 and were signed on its behalf by:





N Chidlaw - Director


Huggables Limited (Registered number: 02549823)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, is being amortised evenly over its estimated useful life of nineteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 19,000
AMORTISATION
At 1 June 2023
and 31 May 2024 19,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Huggables Limited (Registered number: 02549823)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2023 117,912 20,000 7,995 145,907
Additions 2,590 - 1,645 4,235
At 31 May 2024 120,502 20,000 9,640 150,142
DEPRECIATION
At 1 June 2023 84,940 6,875 6,421 98,236
Charge for year 3,556 3,281 805 7,642
At 31 May 2024 88,496 10,156 7,226 105,878
NET BOOK VALUE
At 31 May 2024 32,006 9,844 2,414 44,264
At 31 May 2023 32,972 13,125 1,574 47,671

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 480,945 396,926
Other debtors 6,409 13,896
487,354 410,822

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 2,971 14,734
Trade creditors 45,969 164,277
Taxation and social security 188,808 137,232
Other creditors 49,803 162,959
287,551 479,202

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 36,000 54,000