Company Registration No. 14924348 (England and Wales)
Sweetpea & Pillow Properties Ltd
Unaudited accounts
for the period from 8 June 2023 to 30 June 2024
Sweetpea & Pillow Properties Ltd
Unaudited accounts
Contents
Sweetpea & Pillow Properties Ltd
Company Information
for the period from 8 June 2023 to 30 June 2024
Company Number
14924348 (England and Wales)
Registered Office
8 Percy Street
Rotherham
S65 1ED
England
Sweetpea & Pillow Properties Ltd
Statement of financial position
as at 30 June 2024
Cash at bank and in hand
1,912
Creditors: amounts falling due within one year
(31,359)
Net current liabilities
(22,213)
Profit and loss account
(18,880)
Shareholders' funds
(18,879)
For the period ending 30 June 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 director acknowledges her 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 March 2025 and were signed on its behalf by
Serena Dodd
Director
Company Registration No. 14924348
Sweetpea & Pillow Properties Ltd
Notes to the Accounts
for the period from 8 June 2023 to 30 June 2024
Sweetpea & Pillow Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 14924348. The registered office is 8 Percy Street, Rotherham, S65 1ED, England.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are prepared in sterling, which is this functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
At the time of approving the financial statements, despite the current liability position of the company, it is still considered a going concern due to ongoing continued support from the director. The director has a reasonable expectation that the company shall continue in operational existence for the foreseeable future, thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33.33% straight line
Computer equipment
33.33% straight line
Sweetpea & Pillow Properties Ltd
Notes to the Accounts
for the period from 8 June 2023 to 30 June 2024
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 substantive enacted by the reporting end date.
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.
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Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 30 June 2024
671
3,278
3,949
Charge for the period
175
440
615
At 30 June 2024
175
440
615
At 30 June 2024
496
2,838
3,334
Amounts falling due within one year
Sweetpea & Pillow Properties Ltd
Notes to the Accounts
for the period from 8 June 2023 to 30 June 2024
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Creditors: amounts falling due within one year
2024
Loans from directors
28,814
Accelerated capital allowances
633
Tax losses carried forward
(4,392)
Other deferred taxation
(526)
Credited to the profit and loss account
(4,285)
Provision at end of period
(4,285)
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Transactions with related parties
The company rented property from Serena Dodd at a rate of £30,500 for the period. This was considered to be at market value. Instead of being physically paid, these amounts were credited to the director’s loan account. No amounts were outstanding at the year-end.
At the balance sheet date, the amount owed to Serena Dodd was £28,814.
No interest has been charged and this amount (loan) is repayable on demand.
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Average number of employees
During the period the average number of employees was 1.