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Registered number: 05033460
It's My Party Ltd
Financial Statements
For The Year Ended 31 March 2025
Dymond Ashworth
Chartered Certified Accountants
First Floor 98-100
Gisburn Road
Barrowford
Lancashire
BB9 6EW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 05033460
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,642 10,064
8,642 10,064
CURRENT ASSETS
Debtors 5 5,406 4,257
Cash at bank and in hand 1,476 6,833
6,882 11,090
Creditors: Amounts Falling Due Within One Year 6 (41,340 ) (33,539 )
NET CURRENT ASSETS (LIABILITIES) (34,458 ) (22,449 )
TOTAL ASSETS LESS CURRENT LIABILITIES (25,816 ) (12,385 )
Creditors: Amounts Falling Due After More Than One Year 7 (31,371 ) (36,726 )
NET LIABILITIES (57,187 ) (49,111 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (57,189 ) (49,113 )
SHAREHOLDERS' FUNDS (57,187) (49,111)
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr J Randle
Director
30/12/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
It's My Party Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05033460 . The registered office is The Old School House, On The Banks, Trafalgar Street, Burnley, BB11 1TQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale 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.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 15% on reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2024: 6)
10 6
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2024 58,677
Additions 103
As at 31 March 2025 58,780
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 April 2024 48,613
Provided during the period 1,525
As at 31 March 2025 50,138
Net Book Value
As at 31 March 2025 8,642
As at 1 April 2024 10,064
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 5,406 4,257
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Other loans 33,994 26,556
Other taxes and social security 40 -
VAT 2,491 2,173
Accruals and deferred income 1,065 1,060
Customer deposits held 3,750 3,750
41,340 33,539
Creditors due within one year include loans advanced by a Person of Significant Control totalling £33,994 (2024-£26,556). There are no fixed repayment terms attached to this loan and no interest has been charged.
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 31,371 36,726
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
Page 4