| Totally Pawsome Ltd |
| Notes to the Accounts |
| for the period from 29 August 2024 to 31 August 2025 |
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| 1 |
Accounting policies |
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Turnover |
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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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Intangibles |
5 Year Straight Line |
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Plant and machinery |
25% Reducing Balance |
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Fixtures, fittings, tools and equipment |
33% Straight Line |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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| 2 |
Employees |
2025 |
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| Number |
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Average number of persons employed by the company |
2 |
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| 3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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Additions |
1,583 |
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At 31 August 2025 |
1,583 |
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Amortisation |
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Provided during the period |
317 |
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At 31 August 2025 |
317 |
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Net book value |
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At 31 August 2025 |
1,266 |
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Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years. |
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| 4 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
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Cost |
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Additions |
5,002 |
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At 31 August 2025 |
5,002 |
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Depreciation |
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Charge for the period |
1,345 |
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At 31 August 2025 |
1,345 |
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Net book value |
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At 31 August 2025 |
3,657 |
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| 5 |
Debtors |
2025 |
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| £ |
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Trade debtors |
124 |
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Other debtors |
21,484 |
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21,608 |
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| 6 |
Creditors: amounts falling due within one year |
2025 |
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| £ |
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Bank loans and overdrafts |
9 |
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Trade creditors |
261 |
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Taxation and social security costs |
3,994 |
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Other creditors |
32,658 |
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36,922 |
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| 7 |
Other information |
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Totally Pawsome Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
19 Aspley Park |
|
Nottingham |
|
NG8 3EA |