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Registered Number: 09262651
England and Wales

 

 

 


Filleted Accounts

for the year ended 31 October 2023

for

THE PARTY TENT COMPANY NORTH WEST LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 13,535    17,707 
13,535    17,707 
Current assets      
Stocks 4 19,620    18,895 
Cash at bank and in hand 64,916    66,775 
84,536    85,670 
Creditors: amount falling due within one year 5 (15,549)   (16,009)
Net current assets 68,987    69,661 
 
Total assets less current liabilities 82,522    87,368 
Creditors: amount falling due after more than one year 6 (5,075)   (8,655)
Provisions for liabilities 7 (3,078)   (5,348)
Net assets 74,369    73,365 
 

Capital and reserves
     
Called up share capital 8 4    4 
Profit and loss account 74,365    73,361 
Shareholders' funds 74,369    73,365 
 


For the year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 31 October 2024 and were signed by:


-------------------------------
Iain Griffiths
Director
1
General Information
The Party Tent Company North West Limited is a private company, limited by shares, registered in England and Wales, registration number 09262651, registration address Penny Lane Business Centre, 374 Smithdown Road, Liverpool, Merseyside, L15 5AN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Motor Vehicles 25% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 November 2022 59,578    12,200    71,778 
Additions 340      340 
Disposals    
At 31 October 2023 59,918    12,200    72,118 
Depreciation
At 01 November 2022 46,255    7,816    54,071 
Charge for year 3,416    1,096    4,512 
On disposals    
At 31 October 2023 49,671    8,912    58,583 
Net book values
Closing balance as at 31 October 2023 10,247    3,288    13,535 
Opening balance as at 01 November 2022 13,323    4,384    17,707 


4.

Stocks

2023
£
  2022
£
Stocks 19,620    18,895 
19,620    18,895 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 3,006    8,317 
Other Creditors 30   
Directors' Current Accounts 10,636    7,692 
VAT 1,877   
15,549    16,009 

6.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 5,075    8,655 
5,075    8,655 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 3,078    5,348 
3,078    5,348 

8.

Share Capital

Authorised
2 Ordinary shares of £1.00 each
2 B Ordinary shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
2 Ordinary shares of £1.00 each  
2 B Ordinary shares of £1.00 each  
 

2