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REGISTERED NUMBER: 05785922 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Karen Betts Limited

Karen Betts Limited (Registered number: 05785922)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Karen Betts Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Ms K Betts





REGISTERED OFFICE: Nouveau House
Barnsley Road
South Elmsall
Pontefract
West Yorkshire
WF9 2HR





REGISTERED NUMBER: 05785922 (England and Wales)






Karen Betts Limited (Registered number: 05785922)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 775 903
Tangible assets 5 1,921 1,550
2,696 2,453

CURRENT ASSETS
Debtors 6 65,725 89,082
Cash at bank and in hand 94,632 72,525
160,357 161,607
CREDITORS
Amounts falling due within one year 7 248,620 125,363
NET CURRENT (LIABILITIES)/ASSETS (88,263 ) 36,244
TOTAL ASSETS LESS CURRENT
LIABILITIES

(85,567

)

38,697

PROVISIONS FOR LIABILITIES - 192
NET (LIABILITIES)/ASSETS (85,567 ) 38,505

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 (85,667 ) 38,405
SHAREHOLDERS' FUNDS (85,567 ) 38,505

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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.

Karen Betts Limited (Registered number: 05785922)

Balance Sheet - continued
30 June 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 director and authorised for issue on 7 October 2024 and were signed by:





Ms K Betts - Director


Karen Betts Limited (Registered number: 05785922)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Karen Betts 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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 etc - 33% on cost

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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Karen Betts Limited (Registered number: 05785922)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Going concern
At the year end the company had net liabilities of £85,567. However, the director confirmed that it remains appropriate to prepare the accounts on a going concern basis due to their continued financial support. The loan from the director at the balance sheet date was £130,171. The director has confirmed they will not seek repayment until the company is in a position to repay from positive reserves.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023
and 30 June 2024 1,275
AMORTISATION
At 1 July 2023 372
Charge for year 128
At 30 June 2024 500
NET BOOK VALUE
At 30 June 2024 775
At 30 June 2023 903

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 3,571
Additions 1,474
At 30 June 2024 5,045
DEPRECIATION
At 1 July 2023 2,021
Charge for year 1,103
At 30 June 2024 3,124
NET BOOK VALUE
At 30 June 2024 1,921
At 30 June 2023 1,550

Karen Betts Limited (Registered number: 05785922)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 38,541 53,181
Other debtors 27,184 35,901
65,725 89,082

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 35,152 23,243
Taxation and social security 13,122 20,314
Other creditors 200,346 81,806
248,620 125,363

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 July 2023 38,405
Deficit for the year (124,072 )
At 30 June 2024 (85,667 )