Company registration number 12730959 (England and Wales)
NATURALLYSHEEPSKINS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
NATURALLYSHEEPSKINS LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
NATURALLYSHEEPSKINS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr C Britton
Mrs R L Britton
Company number
12730959
Registered office
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE
Accountants
Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE
NATURALLYSHEEPSKINS LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
11,312
12,314
Current assets
Stocks
195,431
116,955
Debtors
5
19,470
10,760
Cash at bank and in hand
18,372
14,537
233,273
142,252
Creditors: amounts falling due within one year
6
(316,232)
(211,368)
Net current liabilities
(82,959)
(69,116)
Net liabilities
(71,647)
(56,802)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(71,747)
(56,902)
Total equity
(71,647)
(56,802)

For the financial year ended 31 July 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 March 2025 and are signed on its behalf by:
Mr C Britton
Director
Company registration number 12730959 (England and Wales)
NATURALLYSHEEPSKINS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Naturallysheepskins Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Sutton Coldfield, West Midlands, England, B75 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The accounts are prepared on the going concern basis on the assumption that the company's creditors, in particular the company's directors, continue to provide financial support to the company.true

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

1.4
Tangible fixed assets

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
10% on cost
Computers
33% on cost
1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

NATURALLYSHEEPSKINS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Taxation

No liability to UK corporation tax arose for the year ended 31 July 2023 nor the period ended 31 July 2022.

4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023
13,860
Additions
627
At 31 July 2024
14,487
Depreciation and impairment
At 1 August 2023
1,546
Depreciation charged in the year
1,629
At 31 July 2024
3,175
Carrying amount
At 31 July 2024
11,312
At 31 July 2023
12,314
NATURALLYSHEEPSKINS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,793
7,581
Other debtors
7,677
3,179
19,470
10,760
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6
61
Trade creditors
65,682
44,308
Taxation and social security
-
0
444
Other creditors
250,544
166,555
316,232
211,368
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
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