Patterns Plus Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04975923 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PATTERNS PLUS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Goodwin

M Goodwin

SECRETARY:

D J Goodwin

REGISTERED OFFICE:

Unit 6 Ohio Grove

Hot Lane Industrial Estate

Burslem

Stoke on Trent

Staffordshire

ST6 2BL

REGISTERED NUMBER:

04975923 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

3,699

1,942

3,699

1,942

CURRENT ASSETS

Stocks

1,625

1,550

Debtors

6

25,472

47,349

Cash at bank

54,547

141,443

81,644

190,342

CREDITORS

Amounts falling due within one year

7

28,161

31,699

NET CURRENT ASSETS

53,483

158,643

TOTAL ASSETS LESS CURRENT LIABILITIES

57,182

160,585

PROVISIONS FOR LIABILITIES

702

369

NET ASSETS

56,480

160,216

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

56,478

160,214

SHAREHOLDERS' FUNDS

56,480

160,216

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 1 February 2024 and were signed on its behalf by:

D J Goodwin - Director

M Goodwin - Director

1.	STATUTORY INFORMATION

Patterns Plus Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

15% on reducing balance and Straight line over 3 years

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 year 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2023

and 31 December 2023

80,000

AMORTISATION

At 1 January 2023

and 31 December 2023

80,000

NET BOOK VALUE

At 31 December 2023

-

At 31 December 2022

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2023

34,533

Additions

2,060

At 31 December 2023

36,593

DEPRECIATION

At 1 January 2023

32,591

Charge for year

303

At 31 December 2023

32,894

NET BOOK VALUE

At 31 December 2023

3,699

At 31 December 2022

1,942

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

25,472

47,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

54

144

Taxation and social security

5,823

11,035

Other creditors

22,284

20,520

28,161

31,699

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company operates from business premises which are owned by the two directors Messrs. Goodwin & Goodwin. No rent has been charged during the year.