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Registered number: 09585092
SOMETHING SPECIAL CHEADLE LTD
Financial Statements
For The Year Ended 31 May 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Statement of Financial Position 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Directors Mr Daniel Ashton
Mrs Shannon Ashton
Company Number 09585092
Registered Office 4, Pine View, Hillside Industrial Estate
Draycott Cross Road, Cheadle
Stoke-on-Trent
Staffordshire
ST10 1AB
Accountants The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of SOMETHING SPECIAL CHEADLE LTD for the year ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of SOMETHING SPECIAL CHEADLE LTD which comprise the Income Statement, the Statement of Financial Position and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of SOMETHING SPECIAL CHEADLE LTD , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of SOMETHING SPECIAL CHEADLE LTD and state those matters that we have agreed to state to the directors of SOMETHING SPECIAL CHEADLE LTD , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SOMETHING SPECIAL CHEADLE LTD and its directors as a body for our work or for this report.
It is your duty to ensure that SOMETHING SPECIAL CHEADLE LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of SOMETHING SPECIAL CHEADLE LTD . You consider that SOMETHING SPECIAL CHEADLE LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of SOMETHING SPECIAL CHEADLE LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
17th December 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 2
Page 3
Statement of Financial Position
Registered number: 09585092
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 66,042 76,925
66,042 76,925
CURRENT ASSETS
Stocks 5 70,000 70,000
Debtors 6 62,335 17,977
Cash at bank and in hand 494 802
132,829 88,779
Creditors: Amounts Falling Due Within One Year 7 (121,663 ) (108,382 )
NET CURRENT ASSETS (LIABILITIES) 11,166 (19,603 )
TOTAL ASSETS LESS CURRENT LIABILITIES 77,208 57,322
Creditors: Amounts Falling Due After More Than One Year 8 (66,112 ) (42,268 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (12,548 ) (14,616 )
NET (LIABILITIES)/ASSETS (1,452 ) 438
CAPITAL AND RESERVES
Called up share capital 12 12 10
Income Statement (1,464 ) 428
SHAREHOLDERS' FUNDS (1,452) 438
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Daniel Ashton
Director
Mrs Shannon Ashton
Director
17th December 2024
The notes on pages 5 to 9 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
SOMETHING SPECIAL CHEADLE LTD is a private company, limited by shares, incorporated in England & Wales, registered number 09585092 . The registered office is 4, Pine View, Hillside Industrial Estate, Draycott Cross Road, Cheadle, Stoke-on-Trent, Staffordshire, ST10 1AB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 2% on reducing balance
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
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2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to income statement as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 June 2023 - 105,406 35,095 13,652 154,153
Additions 7,820 - - 921 8,741
As at 31 May 2024 7,820 105,406 35,095 14,573 162,894
Depreciation
As at 1 June 2023 - 55,051 15,354 6,823 77,228
Provided during the period 156 12,591 4,935 1,942 19,624
As at 31 May 2024 156 67,642 20,289 8,765 96,852
Net Book Value
As at 31 May 2024 7,664 37,764 14,806 5,808 66,042
As at 1 June 2023 - 50,355 19,741 6,829 76,925
5. Stocks
2024 2023
£ £
Stock 70,000 70,000
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,729 6,261
Other debtors 2 10,168
VAT - 1,548
Directors' loan accounts 43,069 -
47,800 17,977
Due after more than one year
Corporation tax recoverable assets 14,535 -
14,535 -
62,335 17,977
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,494 18,813
Trade creditors 3,313 6,088
Bank loans and overdrafts 48,195 43,106
Corporation tax 18,553 2,027
Other taxes and social security 3,412 -
VAT 5 -
Other creditors 2,380 -
Accruals and deferred income 33,311 37,590
Directors' loan accounts - 758
121,663 108,382
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 21,441 33,935
Bank loans 44,671 8,333
66,112 42,268
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 15,039 21,723
Later than one year and not later than five years 25,751 40,790
40,790 62,513
Less: Finance charges allocated to future periods 6,855 9,765
33,935 52,748
10. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 12,548 14,616
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11. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 14,616 14,616
Deferred taxation (2,068 ) (2,068 )
Balance at 31 May 2024 12,548 12,548
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 12 10
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mr Daniel Ashton - 43,068 - - 43,068
The above loan is unsecured, interest free and repayable on demand.
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