The Curtain Shop (Kettering) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04911162

THE CURTAIN SHOP (KETTERING) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2024

THE CURTAIN SHOP (KETTERING) LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2024

	2024		2023
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		13,326		2,249

CURRENT ASSETS

Stocks		4,800	5,000
Debtors	7	278	743
		-------	-------
		5,078	5,743

CREDITORS: amounts falling due within one year	8	35,495		28,465
		--------		--------
NET CURRENT LIABILITIES			30,417		22,722
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			( 17,091)		( 20,473)

PROVISIONS	461	562
	--------	--------
NET LIABILITIES	( 17,552)	( 21,035)
	--------	--------

CAPITAL AND RESERVES

Called up share capital fully paid	100	100
Profit and loss account	( 17,652)	( 21,135)
	--------	--------
SHAREHOLDERS DEFICIT	( 17,552)	( 21,035)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 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 financial statements for the year in question in accordance with section 476 ;

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

THE CURTAIN SHOP (KETTERING) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2024

These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:

Mrs S G Lindsay
Director

Company registration number: 04911162

THE CURTAIN SHOP (KETTERING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England. The address of the registered office is The Curtain Shop (Kettering) Limited, 220 Rockingham Road, Kettering, Northamptonshire, NN16 9AJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The company currently meets its daily working capital requirements through operating revenues, banking facilities and financial support from the director. On this basis, the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additional finance that may prove necessary.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Office equipment	-	33% reducing balance

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 3 (2023: 4 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 October 2023 and 30 September 2024	37,500
	--------
Amortisation
At 1 October 2023 and 30 September 2024	37,500
	--------
Carrying amount
At 30 September 2024	–
	--------
At 30 September 2023	–
	--------

6. TANGIBLE ASSETS

	Freehold property	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 October 2023	–	4,094	9,996	508	14,598
Additions	11,480	600	–	100	12,180
Disposals	–	( 3,381)	–	–	( 3,381)
	--------	-------	-------	----	--------
At 30 September 2024	11,480	1,313	9,996	608	23,397
	--------	-------	-------	----	--------
Depreciation
At 1 October 2023	–	3,332	8,662	355	12,349
Charge for the year	–	225	334	83	642
Disposals	–	( 2,920)	–	–	( 2,920)
	--------	-------	-------	----	--------
At 30 September 2024	–	637	8,996	438	10,071
	--------	-------	-------	----	--------
Carrying amount
At 30 September 2024	11,480	676	1,000	170	13,326
	--------	-------	-------	----	--------
At 30 September 2023	–	762	1,334	153	2,249
	--------	-------	-------	----	--------

7. DEBTORS

	2024	2023
	£	£
Other debtors	278	743
	----	----

8. CREDITORS: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	313	1,338
Trade creditors	7,478	12,506
Corporation tax	994	1,385
Social security and other taxes	4,434	5,255
Other creditors	22,276	7,981
	--------	--------
	35,495	28,465
	--------	--------

9. RELATED PARTY TRANSACTIONS

A director has advanced monies to the company. At 30 September 2024 the amount due from the company was £19,631 (2023 - £2,727).

10. GOING CONCERN

The directors have considered the period to 30 June 2026 when assessing the company's ability to continue as a going concern. It is believed that the company will either be able to satisfy its liabilities as these become payable, or alternatively will be sold as a going concern.