1 September 2023 v2025.4.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP128397702023-09-012024-08-31128397702024-08-31128397702023-08-3112839770core:WithinOneYear2024-08-3112839770core:WithinOneYear2023-08-3112839770core:ShareCapital2024-08-3112839770core:ShareCapital2023-08-3112839770core:RetainedEarningsAccumulatedLosses2024-08-3112839770core:RetainedEarningsAccumulatedLosses2023-08-3112839770bus:Director12023-09-012024-08-3112839770bus:RegisteredOffice2023-09-012024-08-3112839770core:PlantMachinery2023-09-012024-08-31128397702022-09-012023-08-3112839770core:PlantMachinery2023-09-0112839770core:PlantMachinery2024-08-3112839770core:PlantMachinery2023-08-311283977012023-09-012024-08-3112839770countries:EnglandWales2023-09-012024-08-3112839770bus:AuditExemptWithAccountantsReport2023-09-012024-08-3112839770bus:PrivateLimitedCompanyLtd2023-09-012024-08-3112839770bus:SmallEntities2023-09-012024-08-3112839770bus:FullAccounts2023-09-012024-08-31
Company registration number:
12839770
Simply Katy Ltd
Unaudited Filleted Financial Statements for the year ended
31 August 2024
Simply Katy Ltd
Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Tangible assets 5
5,272
 
6,666
 
Current assets    
Stocks
3,766
 
2,904
 
Debtors 6
1,874
 
1,053
 
Cash at bank and in hand
66,129
 
41,997
 
71,769
 
45,954
 
Creditors: amounts falling due within one year 7
(51,841
)
(27,941
)
Net current assets
19,928
 
18,013
 
Total assets less current liabilities 25,200   24,679  
Provisions for liabilities
(368
) -  
Net assets
24,832
 
24,679
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
24,831
 
24,678
 
Shareholders funds
24,832
 
24,679
 
For the year ending
31 August 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These
financial statements
were approved by the board of directors and authorised for issue on
20 January 2025
, and are signed on behalf of the board by:
Miss Katie Louise Alcock
Director
Company registration number:
12839770
Simply Katy Ltd
Notes to the Financial Statements
Year ended
31 August 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
98 Lancaster Road
,
Newcastle
,
ST5 1DS
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Changes in accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
3 year straight line

Inventories

Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2023:
1
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 September 2023
13,463
 
Additions
2,599
 
Disposals
(1,123
)
At
31 August 2024
14,939
 
Depreciation  
At
1 September 2023
6,797
 
Charge
3,993
 
Disposals
(1,123
)
At
31 August 2024
9,667
 
Carrying amount  
At
31 August 2024
5,272
 
At 31 August 2023
6,666
 

6 Debtors

20242023
££
Trade debtors
1,874
 
1,053
 

7 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
15,747
 
8,551
 
Other creditors
36,094
 
19,390
 
51,841
 
27,941
 

9 Controlling party

The company is under the control of Miss Katie Louise Alcock by virtue of his entire shareholding therein.