Registered number
09030288
The Little Keepsake Company Ltd
Filleted Accounts
30 April 2024
The Little Keepsake Company Ltd
Registered number: 09030288
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 78,348 226,641
Current assets
Stocks 250,000 250,000
Debtors 4 58,213 62,191
Cash at bank and in hand 99,447 74,534
407,660 386,725
Creditors: amounts falling due within one year 5 (127,598) (74,097)
Net current assets 280,062 312,628
Total assets less current liabilities 358,410 539,269
Creditors: amounts falling due after more than one year 6 (35,746) (43,121)
Net assets 322,664 496,148
Capital and reserves
Called up share capital 100 100
Profit and loss account 322,564 496,048
Shareholders' funds 322,664 496,148
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steve Thornton
Director
Approved by the board on 31 January 2025
The Little Keepsake Company Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 11 11
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 145,000 83,348 85,671 314,019
Additions - 13,000 - 13,000
Disposals (145,000) - - (145,000)
At 30 April 2024 - 96,348 85,671 182,019
Depreciation
At 1 May 2023 - 44,830 42,548 87,378
Charge for the year - 5,512 10,781 16,293
At 30 April 2024 - 50,342 53,329 103,671
Net book value
At 30 April 2024 - 46,006 32,342 78,348
At 30 April 2023 145,000 38,518 43,123 226,641
4 Debtors 2024 2023
£ £
Other debtors 58,213 62,191
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 16,669 -
Taxation and social security costs 79,260 68,767
Other creditors 31,669 5,330
127,598 74,097
6 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 35,746 43,121
7 Other information
The Little Keepsake Company Ltd is a private company limited by shares and incorporated in England. Its registered office is:
March Hare Kuggar
NR Ruan Minor
Cornwall
TR12 7LY
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