1 1 Louise Whittle Ltd SC662932 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Retail of Craft Supplies Digita Accounts Production Advanced 6.30.9574.0 true SC662932 2023-07-01 2024-06-30 SC662932 2024-06-30 SC662932 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-06-30 SC662932 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC662932 core:ShareCapital 2024-06-30 SC662932 core:CurrentFinancialInstruments 2024-06-30 SC662932 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 SC662932 core:FurnitureFittingsToolsEquipment 2024-06-30 SC662932 bus:SmallEntities 2023-07-01 2024-06-30 SC662932 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 SC662932 bus:FilletedAccounts 2023-07-01 2024-06-30 SC662932 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 SC662932 bus:RegisteredOffice 2023-07-01 2024-06-30 SC662932 bus:Director1 2023-07-01 2024-06-30 SC662932 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-01 2024-06-30 SC662932 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 SC662932 bus:Agent1 2023-07-01 2024-06-30 SC662932 core:ComputerEquipment 2023-07-01 2024-06-30 SC662932 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 SC662932 core:OfficeEquipment 2023-07-01 2024-06-30 SC662932 countries:Scotland 2023-07-01 2024-06-30 SC662932 2023-06-30 SC662932 core:FurnitureFittingsToolsEquipment 2023-06-30 SC662932 2022-07-01 2023-06-30 SC662932 2023-06-30 SC662932 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-30 SC662932 core:RetainedEarningsAccumulatedLosses 2023-06-30 SC662932 core:ShareCapital 2023-06-30 SC662932 core:CurrentFinancialInstruments 2023-06-30 SC662932 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC662932 core:FurnitureFittingsToolsEquipment 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: SC662932

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Company Information

Director

Mrs Louise Whittle

Registered office

27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

Accountants

Deans Accountants And Business Advisors Ltd 27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

 

DEANS

Chartered Accountants

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Louise Whittle Ltd trading as T/A The Wonky Giraffe for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Louise Whittle Ltd for the year ended 30 June 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland (ICAS), we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/ethics/icas-code-of-ethics.

This report is made solely to the Board of Directors of Louise Whittle Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Louise Whittle Ltd and state those matters that we have agreed to state to the Board of Directors of Louise Whittle Ltd, as a body, in this report in accordance with ICAS guidance (www.icas.com/accountsprep/guidance). To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Louise Whittle Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Louise Whittle 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 of Louise Whittle Ltd. You consider that Louise Whittle 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 Louise Whittle 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 statutory accounts.

......................................

Deans Accountants And Business Advisors Ltd
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD

26 March 2025

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

(Registration number: SC662932)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,841

3,905

Current assets

 

Stocks

5

55,725

44,951

Debtors

6

1,511

1,189

Cash at bank and in hand

 

6,441

1,840

 

63,677

47,980

Creditors: Amounts falling due within one year

7

(51,534)

(46,268)

Net current assets

 

12,143

1,712

Total assets less current liabilities

 

17,984

5,617

Provisions for liabilities

(1,110)

(742)

Net assets

 

16,874

4,875

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

16,774

4,775

Shareholders' funds

 

16,874

4,875

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 March 2025
 

.........................................
Mrs Louise Whittle
Director

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
27 North Bridge Street
Hawick
Scottish Borders
TD9 9BD
United Kingdom

The principal place of business is:
Unit 8-2
U-Stor Business Units
Spylaw Road
Kelso
TD5 8DN

These financial statements were authorised for issue by the director on 26 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company is not directly impacted by Brexit.

The company has suffered financially from the pandemic. Where appropriate, government support in the forms of grants and loans were used to mitigate the impact of lockdowns etc. The directors will continue to assess the impact of the pandemic and make decisions accordingly.

The financial statements are presented in Sterling (£) and rounded to the nearest £1

Judgements

Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made included

Useful economic lives of tangible assets – the annual depreciation charge for tangible assets is sensitive to change in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation, and the physical condition of the assets

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Sales 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.

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Government grants

Government grants have been dealt with as a revenue on the cash basis upon receival.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Laptop

3 Year Straight Line

Shop Equipment

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it’s liabilities
 Recognition and measurement
Where shares are issued, any component that creates, a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expenses in the profit and loss account
 Impairment
At the end of each reporting period financial instruments measured at fair value are assessed for objective evidence of impairment. The impairment loss is recognised in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

8,712

8,712

Additions

3,132

3,132

At 30 June 2024

11,844

11,844

Depreciation

At 1 July 2023

4,807

4,807

Charge for the year

1,196

1,196

At 30 June 2024

6,003

6,003

Carrying amount

At 30 June 2024

5,841

5,841

At 30 June 2023

3,905

3,905

5

Stocks

2024
£

2023
£

Other inventories

55,725

44,951

6

Debtors

2024
£

2023
£

Prepayments

1,511

1,189

1,511

1,189

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

1,529

Taxation and social security

2,242

-

Accruals and deferred income

12,913

5,428

Other creditors

36,379

39,311

51,534

46,268

 

Louise Whittle Ltd

trading as T/A The Wonky Giraffe

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Related party transactions

Other transactions with the director

During the year the director loaned money to the company. At the year end the balance outstanding from the company was £36,379 (2023 - £39,311).