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Registered number: 04401338
Carol's Lingerie Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04401338
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 245 326
245 326
CURRENT ASSETS
Stocks 5 25,149 17,000
Debtors 6 1,155 1,451
Cash at bank and in hand 37,796 38,582
64,100 57,033
Creditors: Amounts Falling Due Within One Year 7 (8,702 ) (7,243 )
NET CURRENT ASSETS (LIABILITIES) 55,398 49,790
TOTAL ASSETS LESS CURRENT LIABILITIES 55,643 50,116
NET ASSETS 55,643 50,116
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account 55,543 50,016
SHAREHOLDERS' FUNDS 55,643 50,116
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
L A Bourne
Director
15th October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Carol's Lingerie Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04401338 . The registered office is Unit 8 Wheatcroft Business Park, Landmere Lane, Edwalton, Nottingham, NG12 4DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 130 354 348 832
As at 31 March 2024 130 354 348 832
Depreciation
As at 1 April 2023 130 354 22 506
Provided during the period - - 81 81
As at 31 March 2024 130 354 103 587
Net Book Value
As at 31 March 2024 - - 245 245
As at 1 April 2023 - - 326 326
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Page 4
5. Stocks
2024 2023
£ £
Stock 25,149 17,000
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,059
Other debtors 1,155 392
1,155 1,451
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 2,213
Taxation and social security 7,689 5,030
Other creditors 1,013 -
8,702 7,243
8. Ultimate Controlling Party
The company is controlled by the directors.
Page 4