Company registration number 07407963 (England and Wales)
SOMETHING PERSONAL LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
SOMETHING PERSONAL LIMITED
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 7
SOMETHING PERSONAL LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -

The director presents his annual report and financial statements for the year ended 31 October 2024.

Principal activities

The principal activity of the company continued to be that of gifts and personalised merchandise sales and entertainment provider.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mr S A Palmer
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Mr S A Palmer
Director
20 May 2025
SOMETHING PERSONAL LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,415
52,798
Current assets
Stocks
754
1,422
Debtors
4
68,131
85,650
Cash at bank and in hand
197,558
154,010
266,443
241,082
Creditors: amounts falling due within one year
5
(124,927)
(101,754)
Net current assets
141,516
139,328
Total assets less current liabilities
165,931
192,126
Creditors: amounts falling due after more than one year
6
(25,482)
(31,037)
Net assets
140,449
161,089
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
140,448
161,088
Total equity
140,449
161,089

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

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 20 May 2025
Mr S A Palmer
Director
Company registration number 07407963 (England and Wales)
SOMETHING PERSONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Something Personal Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Craufurd Hale Group, Ground Floor, Arena Court, Crown Lane, MAIDENHEAD, SL6 8QZ.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost net of depreciation.

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

Leasehold improvements
25% straight line
Plant and machinery
25% straight line
Fixtures, fittings & equipment
25% straight line
Computer equipment
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

SOMETHING PERSONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and represents cash in hand and bank.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction. Financial assets are classified as receivable within one year and are not amortised on the basis that they are receivable within one year.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loan from the director, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities on the basis that payment is due within one year or less.

SOMETHING PERSONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
Taxation

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

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.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 9 (2023: 4)

2024
2023
Number
Number
Total
9
4
SOMETHING PERSONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
32,177
152,475
184,652
Additions
-
0
1,720
1,720
At 31 October 2024
32,177
154,195
186,372
Depreciation and impairment
At 1 November 2023
22,333
109,521
131,854
Depreciation charged in the year
8,044
22,059
30,103
At 31 October 2024
30,377
131,580
161,957
Carrying amount
At 31 October 2024
1,800
22,615
24,415
At 31 October 2023
9,844
42,954
52,798
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
68,006
74,327
Other debtors
125
11,323
68,131
85,650
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,906
12,737
Trade creditors
73,065
49,236
Taxation and social security
43,356
39,181
Other creditors
600
600
124,927
101,754
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
25,482
31,037
SOMETHING PERSONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 7 -
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
5,953
13,891
9
Ultimate controlling party

The ultimate controlling party is S A Palmer by virtue of his controlling interest.

2024-10-312023-11-01falsefalsefalse20 May 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityMr S A Palmer074079632023-11-012024-10-3107407963bus:Director12023-11-012024-10-31074079632024-10-31074079632023-10-3107407963core:LandBuildings2024-10-3107407963core:OtherPropertyPlantEquipment2024-10-3107407963core:LandBuildings2023-10-3107407963core:OtherPropertyPlantEquipment2023-10-3107407963core:CurrentFinancialInstrumentscore:WithinOneYear2024-10-3107407963core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3107407963core:Non-currentFinancialInstrumentscore:AfterOneYear2024-10-3107407963core:Non-currentFinancialInstrumentscore:AfterOneYear2023-10-3107407963core:CurrentFinancialInstruments2024-10-3107407963core:CurrentFinancialInstruments2023-10-3107407963core:ShareCapital2024-10-3107407963core:ShareCapital2023-10-3107407963core:RetainedEarningsAccumulatedLosses2024-10-3107407963core:RetainedEarningsAccumulatedLosses2023-10-3107407963core:ShareCapitalOrdinaryShareClass12024-10-3107407963core:ShareCapitalOrdinaryShareClass12023-10-3107407963core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-11-012024-10-3107407963core:PlantMachinery2023-11-012024-10-3107407963core:FurnitureFittings2023-11-012024-10-3107407963core:ComputerEquipment2023-11-012024-10-3107407963core:LandBuildings2023-10-3107407963core:OtherPropertyPlantEquipment2023-10-31074079632023-10-3107407963core:LandBuildings2023-11-012024-10-3107407963core:OtherPropertyPlantEquipment2023-11-012024-10-3107407963core:WithinOneYear2024-10-3107407963core:WithinOneYear2023-10-3107407963core:Non-currentFinancialInstruments2024-10-3107407963core:Non-currentFinancialInstruments2023-10-3107407963bus:PrivateLimitedCompanyLtd2023-11-012024-10-3107407963bus:SmallCompaniesRegimeForAccounts2023-11-012024-10-3107407963bus:FRS1022023-11-012024-10-3107407963bus:AuditExemptWithAccountantsReport2023-11-012024-10-3107407963bus:FullAccounts2023-11-012024-10-31xbrli:purexbrli:sharesiso4217:GBP