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COMPANY REGISTRATION NUMBER: 03603643
Woolly Sheep Limited
Filleted Unaudited Financial Statements
30 April 2024
Woolly Sheep Limited
Financial Statements
Year ended 30 April 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Woolly Sheep Limited
Balance Sheet
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,851
93
Current assets
Debtors
6
37,842
139
Cash at bank and in hand
103,577
113,244
---------
---------
141,419
113,383
Creditors: amounts falling due within one year
7
167,425
102,213
---------
---------
Net current (liabilities)/assets
( 26,006)
11,170
--------
--------
Total assets less current liabilities
( 23,155)
11,263
--------
--------
Net (liabilities)/assets
( 23,155)
11,263
--------
--------
Woolly Sheep Limited
Balance Sheet (continued)
30 April 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 23,255)
11,163
--------
--------
Shareholders (deficit)/funds
( 23,155)
11,263
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 April 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
Mr J R Vaughan
Director
Company registration number: 03603643
Woolly Sheep Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Going concern
The director recognises the continued losses in the company during the year, and believes with his continued support that the company is a going concern.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 May 2023
457
Additions
3,563
-------
At 30 April 2024
4,020
-------
Depreciation
At 1 May 2023
364
Charge for the year
805
-------
At 30 April 2024
1,169
-------
Carrying amount
At 30 April 2024
2,851
-------
At 30 April 2023
93
-------
6. Debtors
2024
2023
£
£
Trade debtors
37,842
Other debtors
139
--------
----
37,842
139
--------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
9
Social security and other taxes
38,901
40,668
Other creditors
128,524
61,536
---------
---------
167,425
102,213
---------
---------
8. Director's advances, credits and guarantees
During the year the director had an interest-free, repayable on demand loan with the company. At the start of the year the director was owed £56,536 by the company and at the end of the year the director was owed £124,674.