THERESA’S TINY TREASURES Unaudited Accounts
for the year ended 31 March 2024
THERESA’S TINY TREASURES
Unaudited Accounts
Year ended 31 March 2024
| CONTENTS | PAGE |
|---|---|
| Proprietor and Professional Advisers | 1 |
| Proprietor’s Approval Statement | 2 |
| Accountant’s Report | 3 |
| Proft and Loss Account | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 - 9 |
THERESA’S TINY TREASURES
Proprietor and Professional Advisers
Year ended 31 March 2024
Proprietor
Mrs T McGrath
Business name Business address
THERESA’S TINY TREASURES
1 Rolfe Crescent Heacham Norfolk PE31 7SF United Kingdom
Accountant
James Johnson & Co Ltd Accountants & Tax Advisors 7 Peddars Drive Hunstanton Norfolk PE36 6HF United Kingdom
1
THERESA’S TINY TREASURES
Proprietor’s Approval Statement
Year ended 31 March 2024
In accordance with the engagement letter dated 1 April 2020, I approve the accounts which comprise the profit and loss account, balance sheet and related notes. I acknowledge my responsibility for the accounts, including the appropriateness of the applicable financial reporting framework as set out in note 1, and for providing James Johnson & Co Ltd with all the information and explanations necessary for their compilation.
Mrs T McGrath
Date: 13 September 2024
2
THERESA’S TINY TREASURES
Report to the proprietor on the preparation of the unaudited accounts of THERESA’S TINY TREASURES
Year ended 31 March 2024
In accordance with your instructions, I have compiled the accounts on the following pages from the accounting records and from information and explanations supplied to me.
I have not carried out an audit or any other review, and consequently I do not, therefore, express any opinion on the accounts.
James Johnson & Co Ltd
Accountants & Tax Advisors
7 Peddars Drive Hunstanton Norfolk PE36 6HF United Kingdom
Date: 13 September 2024
3
THERESA’S TINY TREASURES
Year ended 31 March 2024
| Note Turnover 2 Cost of sales 2 Gross proft Expenditure 2 Premises costs Motor expenses Travelling and entertainment Offce costs Advertising Legal and professional Repairs and maintenance General expenses Finance charges Proft for the year |
2024 £ 21,086 12,503 |
2023 |
|---|---|---|
| £ | ||
| 19,109 | ||
| 13,725 | ||
| 8,583 300 2,314 30 443 539 312 741 1,737 220 |
5,384 | |
| - | ||
| 1,352 | ||
| - | ||
| 148 | ||
| 63 | ||
| 336 | ||
| 609 | ||
| 934 | ||
| 108 | ||
| 6,636 | 3,550 | |
| 1,947 | 1,834 | |
4
THERESA’S TINY TREASURES
Balance Sheet
31 March 2024
| Note Fixed assets Tangible assets 3 Current assets Cash at bank and in hand Net current assets Net assets Financed by: Capital account 4 |
2024 £ 21,813 3,969 |
2023 |
|---|---|---|
| £ | ||
| 18,854 | ||
| 4,981 | ||
| 3,969 | 4,981 | |
| 25,782 | 23,835 | |
| 25,782 | 23,835 | |
5
THERESA’S TINY TREASURES
Notes to the Accounts
Year ended 31 March 2024
1 Accounting policies
BASIS OF PREPARATION
The accounts have been prepared under the historical cost basis and on a basis which enables the profits to be calculated in accordance with United Kingdom Generally Accepted Accounting Practice.
TURNOVER
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
TANGIBLE ASSETS
Tangible assets are measured at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset.
2 Profit and loss account analysis
TURNOVER
| Other income-Donations COST OF SALES Purchases EXPENDITURE |
2024 2023 £ £ 21,086 19,109 |
2024 2023 £ £ 21,086 19,109 |
|---|---|---|
| 19,109 | ||
| 2024 2023 £ £ 12,503 13,725 |
||
| 13,725 | ||
| Premises costs Use of home as offce |
2024 2023 £ £ 300 - |
2024 2023 £ £ 300 - |
|---|---|---|
| - | ||
6
THERESA’S TINY TREASURES
Notes to the Accounts (continued)
Year ended 31 March 2024
| Motor expenses Mileage claim Travelling and entertainment Subsistence Offce costs Printing, postage and stationery Telephone Advertising Advertising Legal and professional Accountancy fees |
2024 £ 2,314 |
2023 |
|---|---|---|
| £ | ||
| 1,352 | ||
| 2024 £ 30 |
||
| 2023 | ||
| £ | ||
| - | ||
| 2024 £ 303 140 |
||
| 2023 | ||
| £ | ||
| 14 | ||
| 134 | ||
| 443 | 148 | |
| 2024 £ 539 |
||
| 2023 | ||
| £ | ||
| 63 | ||
| 2024 £ 312 |
||
| 2023 | ||
| £ | ||
| 336 | ||
7
THERESA’S TINY TREASURES
Notes to the Accounts (continued)
Year ended 31 March 2024
| Repairs and maintenance Repairs and maintenance General expenses General insurance Subscriptions Sundry expenses Finance charges Bank charges Paypal fees |
2024 £ 741 |
2023 |
|---|---|---|
| £ | ||
| 609 | ||
| 2024 £ 484 126 1,127 |
||
| 2023 | ||
| £ | ||
| 432 | ||
| 114 | ||
| 388 | ||
| 1,737 | 934 | |
| 2024 £ - 220 |
||
| 2023 | ||
| £ | ||
| 108 | ||
| - | ||
| 220 | 108 | |
8
THERESA’S TINY TREASURES
Notes to the Accounts (continued)
Year ended 31 March 2024
3 Tangible assets
| Cost At 1 April 2023 Additions At 31 March 2024 Depreciation At 1 April 2023 and 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 4 Capital account At 1 April 2023 Net proft for the year At 31 March 2024 |
Land and buildings £ 3,462 - |
Offce equipmen £ 15,392 2,959 |
t Total £ 18,854 2,959 |
|---|---|---|---|
| 3,462 | 18,351 | 21,813 | |
| - | - | - | |
| 3,462 | 18,351 | 21,813 | |
| 3,462 | 15,392 | 18,854 | |
| 2024 £ 23,835 1,947 |
|||
| 2023 | |||
| £ | |||
| 22,001 | |||
| 1,834 | |||
| 25,782 | 23,835 | ||
9