IRIS Accounts Production v23.2.0.158 04327858 director 1.2.22 31.1.23 31.1.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure043278582022-01-31043278582023-01-31043278582022-02-012023-01-31043278582021-01-31043278582021-02-012022-01-31043278582022-01-3104327858ns16:EnglandWales2022-02-012023-01-3104327858ns15:PoundSterling2022-02-012023-01-3104327858ns11:Director12022-02-012023-01-3104327858ns11:PrivateLimitedCompanyLtd2022-02-012023-01-3104327858ns11:SmallEntities2022-02-012023-01-3104327858ns11:AuditExempt-NoAccountantsReport2022-02-012023-01-3104327858ns11:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3104327858ns11:SmallCompaniesRegimeForAccounts2022-02-012023-01-3104327858ns11:FullAccounts2022-02-012023-01-310432785812022-02-012023-01-3104327858ns11:RegisteredOffice2022-02-012023-01-3104327858ns6:CurrentFinancialInstruments2023-01-3104327858ns6:CurrentFinancialInstruments2022-01-3104327858ns6:Non-currentFinancialInstruments2023-01-3104327858ns6:Non-currentFinancialInstruments2022-01-3104327858ns6:ShareCapital2023-01-3104327858ns6:ShareCapital2022-01-3104327858ns6:RetainedEarningsAccumulatedLosses2023-01-3104327858ns6:RetainedEarningsAccumulatedLosses2022-01-3104327858ns6:NetGoodwill2022-02-012023-01-3104327858ns6:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3104327858ns6:FurnitureFittings2022-02-012023-01-3104327858ns6:NetGoodwill2022-01-3104327858ns6:NetGoodwill2023-01-3104327858ns6:NetGoodwill2022-01-3104327858ns6:LeaseholdImprovements2022-01-3104327858ns6:FurnitureFittings2022-01-3104327858ns6:LeaseholdImprovements2022-02-012023-01-3104327858ns6:LeaseholdImprovements2023-01-3104327858ns6:FurnitureFittings2023-01-3104327858ns6:LeaseholdImprovements2022-01-3104327858ns6:FurnitureFittings2022-01-3104327858ns6:WithinOneYearns6:CurrentFinancialInstruments2023-01-3104327858ns6:WithinOneYearns6:CurrentFinancialInstruments2022-01-31
REGISTERED NUMBER: 04327858 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

FOR

THE SPICE (BASINGSTOKE) LIMITED

THE SPICE (BASINGSTOKE) LIMITED (REGISTERED NUMBER: 04327858)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE SPICE (BASINGSTOKE) LIMITED

COMPANY INFORMATION
for the Year Ended 31 January 2023







DIRECTOR: M N Islam





REGISTERED OFFICE: Aruna House
2 Kings Road
Haslemere
Surrey
GU27 2QA





REGISTERED NUMBER: 04327858 (England and Wales)





ACCOUNTANTS: A & N (Haslemere) Limited
Aruna House
2 Kings Road
Haslemere
Surrey
GU27 2QA

THE SPICE (BASINGSTOKE) LIMITED (REGISTERED NUMBER: 04327858)

STATEMENT OF FINANCIAL POSITION
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 2,812 3,750
Tangible assets 4 30,125 33,317
32,937 37,067

CURRENT ASSETS
Stocks 3,850 3,985
Debtors 5 67,142 720
Cash at bank and in hand 12,194 59,701
83,186 64,406
CREDITORS
Amounts falling due within one year 6 74,957 69,138
NET CURRENT ASSETS/(LIABILITIES) 8,229 (4,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,166

32,335

CREDITORS
Amounts falling due after more than one
year

7

(35,089

)

(40,068

)

PROVISIONS FOR LIABILITIES (5,755 ) (5,311 )
NET ASSETS/(LIABILITIES) 322 (13,044 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 319 (13,047 )
322 (13,044 )

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

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

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.

THE SPICE (BASINGSTOKE) LIMITED (REGISTERED NUMBER: 04327858)

STATEMENT OF FINANCIAL POSITION - continued
31 January 2023


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 director and authorised for issue on 25 October 2023 and were signed by:





M N Islam - Director


THE SPICE (BASINGSTOKE) LIMITED (REGISTERED NUMBER: 04327858)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2023

1. 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 in the past has not been amortised base on the director's opinion that the historical value of goodwill match with market value. Director has revised the useful economic life to 8 years to remaining period therefore goodwill amortises accordingly.

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.
Fixtures and fittings - 25% 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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

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.

THE SPICE (BASINGSTOKE) LIMITED (REGISTERED NUMBER: 04327858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 11 ) .

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 7,500
AMORTISATION
At 1 February 2022 3,750
Charge for year 938
At 31 January 2023 4,688
NET BOOK VALUE
At 31 January 2023 2,812
At 31 January 2022 3,750

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 February 2022 17,584 48,378 65,962
Additions - 988 988
At 31 January 2023 17,584 49,366 66,950
DEPRECIATION
At 1 February 2022 - 32,645 32,645
Charge for year - 4,180 4,180
At 31 January 2023 - 36,825 36,825
NET BOOK VALUE
At 31 January 2023 17,584 12,541 30,125
At 31 January 2022 17,584 15,733 33,317

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 67,142 720

THE SPICE (BASINGSTOKE) LIMITED (REGISTERED NUMBER: 04327858)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 5,646 6,250
Trade creditors 15,009 21,912
Taxation and social security 50,884 34,789
Other creditors 3,418 6,187
74,957 69,138

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 35,089 40,068