Paulines Patchwork Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 07377245

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		5,000		6,000
Tangible Assets	5		11,494		4,420

			16,494		10,420
CURRENT ASSETS
Stocks	6	49,110		51,200
Debtors	7	1,849		4,305
Cash at bank and in hand		2,464		2,655

		53,423		58,160
Creditors: Amounts Falling Due Within One Year	8	(106,750 )		(87,323 )

NET CURRENT ASSETS (LIABILITIES)			(53,327 )		(29,163 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(36,833 )		(18,743 )

NET LIABILITIES			(36,833 )		(18,743 )

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			(36,835 )		(18,745 )

SHAREHOLDERS' FUNDS			(36,833)		(18,743)

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Paulines Patchwork Limited

Balance Sheet (continued)

As At 31 December 2025

For the year ending 31 December 2025 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 directors acknowledge their 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

Mrs Sarah Soward

Director

08/05/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Paulines Patchwork Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07377245 . The registered office is Unit 20 The Wincombe Centre, Wincombe Business Park, Shaftesbury, Dorset, SP7 9QJ.

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. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.

2.4. 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:

Plant & Machinery	15% reducing balance basis
Motor Vehicles	25% reducing balance basis
Fixtures & Fittings	15% reducing balance basis
Computer Equipment	33.33% straight line basis

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Paulines Patchwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2025	20,000

As at 31 December 2025	20,000

Amortisation
As at 1 January 2025	14,000
Provided during the period	1,000

As at 31 December 2025	15,000

Net Book Value
As at 31 December 2025	5,000

As at 1 January 2025	6,000

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 January 2025	1,000	3,000	21,333	1,697	27,030
Additions	-	-	9,165	-	9,165

As at 31 December 2025	1,000	3,000	30,498	1,697	36,195

Depreciation
As at 1 January 2025	897	2,477	17,539	1,697	22,610
Provided during the period	16	131	1,944	-	2,091

As at 31 December 2025	913	2,608	19,483	1,697	24,701

Net Book Value
As at 31 December 2025	87	392	11,015	-	11,494

As at 1 January 2025	103	523	3,794	-	4,420

6. Stocks

	2025	2024
	£	£
Materials	49,110	51,200

7. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	1,849	4,305

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Paulines Patchwork Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	4,274	2,166
Other creditors	101,226	82,947
Taxation and social security	1,250	2,210

	106,750	87,323

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

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