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REGISTERED NUMBER: 02172243 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Imogen Paine Limited

Imogen Paine Limited (Registered number: 02172243)

Contents of the Financial Statements
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Imogen Paine Limited

Company Information
for the year ended 31 March 2024







DIRECTOR: Mrs I M Paine





REGISTERED OFFICE: Unit 2 Plush Mills
West Street
Shutford
Near Banbury
Oxfordshire
OX15 6PH





REGISTERED NUMBER: 02172243 (England and Wales)





ACCOUNTANTS: Tayabali Tomlin
Chartered Accountants
Kenton House
Oxford Street
Moreton-in-Marsh
Gloucestershire
GL56 0LA

Imogen Paine Limited (Registered number: 02172243)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 25,465 9,482

CURRENT ASSETS
Stocks 351,930 434,608
Debtors 5 34,634 30,864
Cash at bank 39,983 55,893
426,547 521,365
CREDITORS
Amounts falling due within one year 6 15,536 33,231
NET CURRENT ASSETS 411,011 488,134
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,476

497,616

CREDITORS
Amounts falling due after more than one
year

7

(14,369

)

(25,569

)

PROVISIONS FOR LIABILITIES (223 ) (1,802 )
NET ASSETS 421,884 470,245

Imogen Paine Limited (Registered number: 02172243)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 411,884 460,245
421,884 470,245

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

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

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 8 October 2024 and were signed by:





Mrs I M Paine - Director


Imogen Paine Limited (Registered number: 02172243)

Notes to the Financial Statements
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Imogen Paine 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 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 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.


Imogen Paine Limited (Registered number: 02172243)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


2. 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Computer
property machinery equipment Totals
£    £    £    £   
COST
At 1 April 2023 - 65,694 223 65,917
Additions 19,233 2,850 1,108 23,191
At 31 March 2024 19,233 68,544 1,331 89,108
DEPRECIATION
At 1 April 2023 - 56,341 94 56,435
Charge for year 3,847 3,052 309 7,208
At 31 March 2024 3,847 59,393 403 63,643
NET BOOK VALUE
At 31 March 2024 15,386 9,151 928 25,465
At 31 March 2023 - 9,353 129 9,482

Imogen Paine Limited (Registered number: 02172243)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 17,520 27,468
Other debtors 17,114 3,396
34,634 30,864

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 11,200 10,960
Trade creditors 1,022 8,517
Taxation and social security 1,364 11,804
Other creditors 1,950 1,950
15,536 33,231

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 14,369 25,569

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £37,500 (2023 - £51,000) were paid to the director .

Included within debtors is a director's current account in the sum of £14,588 (2023: £1,783). The account is unsecured, accrues interest at HM Revenue & Customs official rate and was repaid within nine months of the year end.


Included in professional fees are payments made to a close family member of the director, in the sum of £2,500 (2023: £1,150). The balance outstanding at the year end was £nil (2023: £nil). In the director's opinion these transactions were carried out on an arm's length basis.