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REGISTERED NUMBER: 07328617 (England and Wales)















Keep It Personal Ltd

Unaudited Financial Statements for the Year Ended 31 August 2024






Keep It Personal Ltd (Registered number: 07328617)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Keep It Personal Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTORS: A S Smith
T C Smith





REGISTERED OFFICE: Unit 8 Oak Lane Fishponds Trading Estate
Fishponds
Bristol
BS5 7UY





REGISTERED NUMBER: 07328617 (England and Wales)





ACCOUNTANTS: Avonmead Chartered Certified Accountants
12 Dowry Square
Hotwells
Bristol
BS8 4SH

Keep It Personal Ltd (Registered number: 07328617)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 557,315 570,406

CURRENT ASSETS
Stocks 137,720 197,115
Debtors 5 1,701 8,102
Cash at bank 232,634 609,223
372,055 814,440
CREDITORS
Amounts falling due within one year 6 260,239 327,669
NET CURRENT ASSETS 111,816 486,771
TOTAL ASSETS LESS CURRENT LIABILITIES 669,131 1,057,177

CREDITORS
Amounts falling due after more than one year 7 - (164,361 )

PROVISIONS FOR LIABILITIES (3,205 ) (5,279 )
NET ASSETS 665,926 887,537

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 665,924 887,535
SHAREHOLDERS' FUNDS 665,926 887,537

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

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

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 Comprehensive income 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:





T C Smith - Director


Keep It Personal Ltd (Registered number: 07328617)

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

1. STATUTORY INFORMATION

Keep It Personal 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.

The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. In accessing going concern, the directors have a reasonable expectation that the company will continue as a going concern and is able to meet all of its obligations as they fall due for a minimum of 12 months from the date of approval of these financial statements.

Turnover
Revenue is recognised to the extent there is probable economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of the ownership of the goods have passed to the buyer, usually on delivery of the goods and the costs incurred or to be incurred in respect of the transaction be measured reliably.

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 over 3 years straight line
Fixtures and fittings over 3 years straight line
Motor vehicles over 4 years reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Repairs and maintenance costs are charged to profit or loss during the period in which they are incurred.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit or loss.

Stocks
Stocks 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 Statement of Comprehensive income, 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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Keep It Personal Ltd (Registered number: 07328617)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 September 2023 528,480 603,404 1,131,884
Additions - 10,815 10,815
At 31 August 2024 528,480 614,219 1,142,699
DEPRECIATION
At 1 September 2023 - 561,478 561,478
Charge for year - 23,906 23,906
At 31 August 2024 - 585,384 585,384
NET BOOK VALUE
At 31 August 2024 528,480 28,835 557,315
At 31 August 2023 528,480 41,926 570,406

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors - 271
Prepayments and accrued income 1,701 7,831
1,701 8,102

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts - 17,391
Hire purchase contracts - 958
Trade creditors 78,922 107,225
Tax 21,301 37,779
Social security and other taxes 108,300 101,062
Other creditors 42,626 60,344
Accruals and deferred income 9,090 2,910
260,239 327,669

Included within other creditors are outstanding pension contributions totalling £2,227 (2023: £1,682).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years - 164,361

Keep It Personal Ltd (Registered number: 07328617)

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

8. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans - 181,752

A fixed and floating charge, against the freehold property owned by the company, was registered by Natwest Bank plc on 17 February 2017 and is still outstanding.

9. OPERATING LEASE COMMITMENTS

At 31 August the company had future minimum lease payments under non-cancellable operating leases as follows:

31.07.24 31.07.23
£    £   
Within one year - 5,387
Between one and five years - -
- 5,387