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REGISTERED NUMBER: 11901512 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Picky Lady Limited

The Picky Lady Limited (Registered number: 11901512)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


The Picky Lady Limited (Registered number: 11901512)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 - 14,000
Tangible assets 5 - 91,263
- 105,263

Current assets
Debtors 6 495 135,207
Cash at bank 389 6,758
884 141,965
Creditors
Amounts falling due within one year 7 578,851 572,965
Net current liabilities (577,967 ) (431,000 )
Total assets less current liabilities (577,967 ) (325,737 )

Creditors
Amounts falling due after more than
one year

8

-

22,435
Net liabilities (577,967 ) (348,172 )

Capital and reserves
Called up share capital 2 2
Retained earnings (577,969 ) (348,174 )
Shareholders' funds (577,967 ) (348,172 )

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 directors acknowledge their 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 Picky Lady Limited (Registered number: 11901512)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





P E McGrory - Director


The Picky Lady Limited (Registered number: 11901512)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

The Picky Lady Limited 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: 11901512

Registered office: 105 Princess Park Manor
Royal Drive
London
N11 3FP

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.

At the balance sheet date the company had net current liabilities of £577,967 which have been financed by total loans from the directors of £577,819. As these loans will only be repaid to the directors at a time that the company has the resources to do so, the directors are of the opinion that company will be able to meet all liabilities as they fall due and it is appropriate to prepare the financial statements on a going concern basis. The company ceased trading during the year and sold all assets making it improbable that the loan will be repaid unless a new trade is undertaken.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 20% on cost
Plant and machinery - 20% on cost
Computer equipment - 20% on cost


The Picky Lady Limited (Registered number: 11901512)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 3 ) .

The Picky Lady Limited (Registered number: 11901512)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. Intangible fixed assets
Other
intangible
assets
£   
Cost
At 1 April 2023 35,000
Disposals (35,000 )
At 31 March 2024 -
Amortisation
At 1 April 2023 21,000
Charge for year 2,333
Eliminated on disposal (23,333 )
At 31 March 2024 -
Net book value
At 31 March 2024 -
At 31 March 2023 14,000

5. Tangible fixed assets
Short Plant and Computer
leasehold machinery equipment Totals
£    £    £    £   
Cost
At 1 April 2023 92,285 78,782 2,490 173,557
Disposals (92,285 ) (78,782 ) (2,490 ) (173,557 )
At 31 March 2024 - - - -
Depreciation
At 1 April 2023 30,288 51,250 756 82,294
Charge for year 3,076 5,247 166 8,489
Eliminated on disposal (33,364 ) (56,497 ) (922 ) (90,783 )
At 31 March 2024 - - - -
Net book value
At 31 March 2024 - - - -
At 31 March 2023 61,997 27,532 1,734 91,263

The Picky Lady Limited (Registered number: 11901512)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - 3,778
Other debtors - 33,969
VAT 495 -
Deferred tax asset - 69,652
Prepayments - 27,808
495 135,207

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts - 9,952
Trade creditors 1,032 -
VAT - 2,303
Directors' current accounts 577,819 558,165
Accruals and deferred income - 2,545
578,851 572,965

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years - 9,952
Bank loans - 2-5 years - 12,483
- 22,435

9. Ultimate controlling party

The ultimate controlling party is the directors jointly.