Registered number
08792694
Body Collective Limited
Filleted Accounts
31 March 2023
Body Collective Limited
Registered number: 08792694
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 486 -
Current assets
Debtors 4 153,008 7,200
Creditors: amounts falling due within one year 5 (166,371) (87,622)
Net current liabilities (13,363) (80,422)
Total assets less current liabilities (12,877) (80,422)
Creditors: amounts falling due after more than one year 6 (3,900) (5,723)
Net liabilities (16,777) (86,145)
Capital and reserves
Called up share capital 2 2
Profit and loss account (16,779) (86,147)
Shareholders' funds (16,777) (86,145)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Vincent Gerrard Freeman
Director
Approved by the board on 7 November 2023
Body Collective Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 608
At 31 March 2023 608
Depreciation
Charge for the year 122
At 31 March 2023 122
Net book value
At 31 March 2023 486
4 Debtors 2023 2022
£ £
Trade debtors 27,432 7,200
Other debtors 125,576 -
153,008 7,200
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,810 14,613
Trade creditors 20,620 3,347
Taxation and social security costs 33,428 12,266
Other creditors 104,513 57,396
166,371 87,622
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,900 5,723
7 Related party transactions
The company paid £33,360 to Vincent Freeman, and £25,375 to Andre Marques, who are both directors, in the form of subcontractor costs (£18,000 and £14,000 respectively last year).
The company is owed £130,948 from Chalk Wellness Studios Ltd, of which the directors are associated to.
8 Controlling party
The ultimate controlling party is Vincent Freeman and Andre Marques, who own 50% of the share capital each.
9 Other information
Body Collective Limited is a private company limited by shares and incorporated in England. Its registered office is:
35 Lennox Gardens
London
SW1X 0DE
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