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Unaudited Financial Statements |
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for the Year Ended 28 February 2019 |
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for |
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Poppins Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 28 February 2019 |
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for |
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Poppins Limited |
Poppins Limited (Registered number: 02867442) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 8 |
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Poppins Limited |
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Company Information |
for the Year Ended 28 February 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
The Beeches |
30 Bridge Street |
Thetford |
Norfolk |
IP24 3AG |
Poppins Limited (Registered number: 02867442) |
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Balance Sheet |
28 February 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Poppins Limited (Registered number: 02867442) |
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Balance Sheet - continued |
28 February 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Poppins Limited (Registered number: 02867442) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2019 |
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1. | STATUTORY INFORMATION |
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Poppins Limited is a
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registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Stocks |
Stock is valued at the lower of cost and net realisable value. |
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Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other |
related parties. |
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(i) Financial assets |
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Basic financial assets, including trade and other debtors, and amounts due from related companies, are |
initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the |
transaction is measured at the present value of the future receipts discounted at market rate of interest. |
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(ii) Financial liabilities |
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Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction |
price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the |
present value of the future receipts discounted at market rate of interest. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Poppins Limited (Registered number: 02867442) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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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. |
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Investment property |
The investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Poppins Limited (Registered number: 02867442) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 March 2018 |
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Revaluations |
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At 28 February 2019 |
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DEPRECIATION |
At 1 March 2018 |
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Charge for year |
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At 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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Cost or valuation at 28 February 2019 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 245,648 | - | 245,648 |
Valuation in 2019 | 75,000 | - | 75,000 |
Cost | 205,102 | 7,117 | 212,219 |
525,750 | 7,117 | 532,867 |
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If the investment property had not been revalued it would have been included at the following historical cost: |
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2019 | 2018 |
£ | £ |
Cost | 204,352 | 204,352 |
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The investment property was valued on an open market basis on 28 February 2019 by the director . |
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5. | DEBTORS |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Poppins Limited (Registered number: 02867442) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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5. | DEBTORS - continued |
2019 | 2018 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable otherwise than by instalments |
Mortgage |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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The bank loan is secured on the investment property. |
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9. | PROVISIONS FOR LIABILITIES |
2019 | 2018 |
£ | £ |
Deferred tax re fair value |
reserve | 35,810 | 21,560 |
35,810 | 21,560 |
Poppins Limited (Registered number: 02867442) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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9. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 March 2018 |
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Provided during year |
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Balance at 28 February 2019 |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 500 | 500 |
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11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 March 2018 |
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Profit and loss Transfers | 60,750 |
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At 28 February 2019 |
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12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 28 February 2019 and |
28 February 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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Interest on this loan was charged by the company at the HM Revenue & Customs approved rates. |