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REGISTERED NUMBER: 08978079 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Tracey Michelle Ltd

Tracey Michelle Ltd (Registered number: 08978079)

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










Page

Balance Sheet 1

Notes to the Financial Statements 3


Tracey Michelle Ltd (Registered number: 08978079)

Balance Sheet
30 April 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 13,557 15,334
13,557 15,334

Current assets
Stocks 18,269 21,274
Debtors 7 1,831 2,882
Cash at bank 12,941 13,611
33,041 37,767
Creditors
Amounts falling due within one year 8 (14,716 ) (15,501 )
Net current assets 18,325 22,266
Total assets less current liabilities 31,882 37,600

Creditors
Amounts falling due after more than one
year

9

(15,000

)

(15,000

)

Provisions for liabilities (2,941 ) (3,307 )
Net assets 13,941 19,293

Capital and reserves
Called up share capital 100 100
Retained earnings 13,841 19,193
Shareholders' funds 13,941 19,293

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

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

Tracey Michelle Ltd (Registered number: 08978079)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 October 2024 and were signed by:





Mrs T M Douthwaite - Director


Tracey Michelle Ltd (Registered number: 08978079)

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


1. Statutory information

Tracey Michelle 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: 08978079

Registered office: Holly House
Old Cantley
South Burlingham
Norwich
Norfolk
NR13 4HA

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Tangible fixed assets
Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant, machinery, fixtures and fittings - 15% on reducing balance
Computer equipment - 33.3% on cost
Motor vehicles - 25% on reducing balance

Tracey Michelle Ltd (Registered number: 08978079)

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


3. Accounting policies - continued

Inventories
Inventories have been valued at the lower of cost and net estimated selling price, less costs to sell.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.


Tracey Michelle Ltd (Registered number: 08978079)

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


3. 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, was amortised evenly over it's estimated useful life of three years.

4. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

5. Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023
and 30 April 2024 5,000
Amortisation
At 1 May 2023
and 30 April 2024 5,000
Net book value
At 30 April 2024 -
At 30 April 2023 -

Tracey Michelle Ltd (Registered number: 08978079)

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


6. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
Cost
At 1 May 2023 22,074 7,472 11,233 14,213 54,992
Additions - - - 1,562 1,562
At 30 April 2024 22,074 7,472 11,233 15,775 56,554
Depreciation
At 1 May 2023 12,499 4,171 10,003 12,985 39,658
Charge for year 1,436 495 307 1,101 3,339
At 30 April 2024 13,935 4,666 10,310 14,086 42,997
Net book value
At 30 April 2024 8,139 2,806 923 1,689 13,557
At 30 April 2023 9,575 3,301 1,230 1,228 15,334

7. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 698 830
Other debtors 1,133 2,052
1,831 2,882

8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 733 1,347
Taxation and social security 4,493 5,761
Other creditors 9,490 8,393
14,716 15,501

9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 15,000 15,000

Tracey Michelle Ltd (Registered number: 08978079)

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


10. Related party disclosures

At the balance sheet date the company owed the director £21,172 (2023 - £21,085) of which £15,000 (2023 - £15,000) is due after more than one year. Loan interest has been charged at a rate of 4% (2023 - 4%).

During the year the Company paid rent of £9,600 (2023 - £9,600) to the director.

11. Ultimate controlling party

The controlling party is Mrs T M Douthwaite.