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Registered number: 04979334
Cath Tate Cards Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
KFH Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 04979334
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 359,061 356,079
359,061 356,079
CURRENT ASSETS
Stocks 5 112,922 147,058
Debtors 172,257 74,166
Cash at bank and in hand 366,048 320,923
651,227 542,147
Creditors: Amounts Falling Due Within One Year (127,285 ) (94,471 )
NET CURRENT ASSETS (LIABILITIES) 523,942 447,676
TOTAL ASSETS LESS CURRENT LIABILITIES 883,003 803,755
PROVISIONS FOR LIABILITIES
Deferred Taxation (87,500 ) (87,500 )
NET ASSETS 795,503 716,255
CAPITAL AND RESERVES
Called up share capital 6 100 100
Other reserves 71,724 71,724
Profit and Loss Account 723,679 644,431
SHAREHOLDERS' FUNDS 795,503 716,255
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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
Mrs Rosemary Barraclough
Director
16/09/2024
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cath Tate Cards Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04979334 . The registered office is Unit 1 Ground Floor , Cobalt Tower Deptford Foundry, Moulding Lane, London, SE14 6BF.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Leasehold revaluation model
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% 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. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 6)
6 6
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4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2023 350,000 21,076 16,091 387,167
Additions - 637 5,365 6,002
As at 31 March 2024 350,000 21,713 21,456 393,169
Depreciation
As at 1 April 2023 - 16,865 14,223 31,088
Provided during the period - 1,212 1,808 3,020
As at 31 March 2024 - 18,077 16,031 34,108
Net Book Value
As at 31 March 2024 350,000 3,636 5,425 359,061
As at 1 April 2023 350,000 4,211 1,868 356,079
5. Stocks
2024 2023
£ £
Stock 112,922 147,058
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
7.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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