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REGISTERED NUMBER: 12544749 (England and Wales)















Paula Carnell Ltd

Unaudited Financial Statements for the Year Ended 31 March 2024






Paula Carnell Ltd (Registered number: 12544749)






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


Paula Carnell Ltd

Company Information
for the year ended 31 March 2024







DIRECTOR: P Carnell





SECRETARY: P Carnell





REGISTERED OFFICE: The Hive
Higher Farm
Sutton
Shepton Mallet
Somerset
BA4 6QF





REGISTERED NUMBER: 12544749 (England and Wales)





ACCOUNTANTS: Webb & Co Ltd
One New Street
Wells
Somerset
BA5 2LA

Paula Carnell Ltd (Registered number: 12544749)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 18,389 10,688
Tangible assets 5 3,705 3,197
22,094 13,885

CURRENT ASSETS
Stocks 7,118 10,143
Debtors 6 5,963 6,447
Cash at bank 14,319 1,141
27,400 17,731
CREDITORS
Amounts falling due within one year 7 48,636 31,729
NET CURRENT LIABILITIES (21,236 ) (13,998 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

858

(113

)

CREDITORS
Amounts falling due after more than one
year

8

5,739

9,281
NET LIABILITIES (4,881 ) (9,394 )

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings (4,882 ) (9,395 )
SHAREHOLDERS' FUNDS (4,881 ) (9,394 )

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.

Paula Carnell Ltd (Registered number: 12544749)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 October 2024 and were signed by:





P Carnell - Director


Paula Carnell Ltd (Registered number: 12544749)

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

1. STATUTORY INFORMATION

Paula Carnell Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of products are recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from projects are recognised by reference to the stage of completion at the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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.

Research and develop cost 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.
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Paula Carnell Ltd (Registered number: 12544749)

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 Profit and Loss Account, 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 ) .

4. INTANGIBLE FIXED ASSETS
Research
and
develop
cost
£   
COST
At 1 April 2023 11,876
Additions 9,876
At 31 March 2024 21,752
AMORTISATION
At 1 April 2023 1,188
Amortisation for year 2,175
At 31 March 2024 3,363
NET BOOK VALUE
At 31 March 2024 18,389
At 31 March 2023 10,688

Paula Carnell Ltd (Registered number: 12544749)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023 2,573 2,170 4,743
Additions 1,333 - 1,333
At 31 March 2024 3,906 2,170 6,076
DEPRECIATION
At 1 April 2023 704 842 1,546
Charge for year 391 434 825
At 31 March 2024 1,095 1,276 2,371
NET BOOK VALUE
At 31 March 2024 2,811 894 3,705
At 31 March 2023 1,869 1,328 3,197

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 401 6,410
Other debtors 5,562 37
5,963 6,447

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,834 3,834
Trade creditors 1,947 4,961
Taxation and social security 4,502 5,290
Other creditors 38,353 17,644
48,636 31,729

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 5,739 9,281

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1.00 1 1