Tipsy Owl Cyf - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 14237146 (England and Wales)

Unaudited Financial Statements

for the Period

15 July 2022 to 31 July 2023

for

TIPSY OWL CYF

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

E Rhouni

A S J Richards

REGISTERED OFFICE:

11a Bridge Street

Pontypridd

CF37 4PE

REGISTERED NUMBER:

14237146 (England and Wales)

ACCOUNTANTS:

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Rhondda Cynon Taff

CF37 4DY

FIXED ASSETS

Tangible assets

4

866

CURRENT ASSETS

Stocks

1,600

Cash at bank

3,260

4,860

CREDITORS

Amounts falling due within one year

5

4,958

NET CURRENT LIABILITIES

(98

)

TOTAL ASSETS LESS CURRENT LIABILITIES

768

CAPITAL AND RESERVES

Called up share capital

6

20

Retained earnings

748

SHAREHOLDERS' FUNDS

768

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:

A S J Richards - Director

1.	STATUTORY INFORMATION

Tipsy Owl Cyf is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

Additions

1,083

At 31 July 2023

1,083

DEPRECIATION

Charge for period

217

At 31 July 2023

217

NET BOOK VALUE

At 31 July 2023

866

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

390

Other creditors

4,568

4,958

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£10

20

2 Ordinary shares of £10 each were allotted and fully paid for cash at par during the period.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 July 2023:

£

E Rhouni

Balance outstanding at start of period

-

Amounts repaid

(2,965

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(2,965

)

A S J Richards

Balance outstanding at start of period

-

Amounts repaid

(583

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of period

(583

)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Tipsy Owl Cyf for the period ended 31 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Tipsy Owl Cyf, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Tipsy Owl Cyf and state those matters that we have agreed to state to the Board of Directors of Tipsy Owl Cyf, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Tipsy Owl Cyf and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Tipsy Owl Cyf has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Tipsy Owl Cyf. You consider that Tipsy Owl Cyf is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Tipsy Owl Cyf. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

James de Frias

Chartered Accountants

Llanover House

Llanover Road

Pontypridd

Rhondda Cynon Taff

CF37 4DY

11 March 2024