Simply Bows and Chairs Covers Franchising Limited 06954401 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a franchise company Digita Accounts Production Advanced 6.30.9574.0 true 06954401 2022-04-01 2023-03-31 06954401 2023-03-31 06954401 bus:OrdinaryShareClass1 2023-03-31 06954401 core:CurrentFinancialInstruments 2023-03-31 06954401 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06954401 bus:SmallEntities 2022-04-01 2023-03-31 06954401 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06954401 bus:FullAccounts 2022-04-01 2023-03-31 06954401 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06954401 bus:RegisteredOffice 2022-04-01 2023-03-31 06954401 bus:Director2 2022-04-01 2023-03-31 06954401 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 06954401 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06954401 bus:Agent1 2022-04-01 2023-03-31 06954401 core:FurnitureFittings 2022-04-01 2023-03-31 06954401 core:OfficeEquipment 2022-04-01 2023-03-31 06954401 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 06954401 countries:EnglandWales 2022-04-01 2023-03-31 06954401 2021-04-01 2022-03-31 06954401 2022-03-31 06954401 bus:OrdinaryShareClass1 2022-03-31 06954401 core:CurrentFinancialInstruments 2022-03-31 06954401 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06954401

Simply Bows and Chairs Covers Franchising Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Simply Bows and Chairs Covers Franchising Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Simply Bows and Chairs Covers Franchising Limited for the year ended 31 March 2023 as set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements which are detailed on their website at www.cimaglobal.com/ members/members-handbook.

This report is made solely to the Board of Directors of Simply Bows and Chairs Covers Franchising Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Simply Bows and Chairs Covers Franchising Limited and state those matters that we have agreed to state to the Board of Directors of Simply Bows and Chairs Covers Franchising Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Simply Bows and Chairs Covers Franchising Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Simply Bows and Chairs Covers Franchising Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Simply Bows and Chairs Covers Franchising Limited. You consider that Simply Bows and Chairs Covers Franchising Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Simply Bows and Chairs Covers Franchising Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

TEAM Accountancy Solutions Limited
Hexham Villa
Egton Terrace
Birtley
Co. Durham
DH3 1LX

10 November 2023

 

Simply Bows and Chairs Covers Franchising Limited

(Registration number: 06954401)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

1,004

1,675

Current assets

 

Debtors

1,447

9,877

Cash at bank and in hand

 

517

2,263

 

1,964

12,140

Creditors: Amounts falling due within one year

(11,656)

(10,428)

Net current (liabilities)/assets

 

(9,692)

1,712

Net (liabilities)/assets

 

(8,688)

3,387

Capital and reserves

 

Called up share capital

4

100

100

Retained earnings

(8,788)

3,287

Shareholders' (deficit)/funds

 

(8,688)

3,387

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 November 2023
 

.........................................
Mrs S Pittendrigh
Director

 

Simply Bows and Chairs Covers Franchising Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unthank Farm
Kiln Pit Hill
Consett
County Durham
DH8 9LP

These financial statements were authorised for issue by the director on 10 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Simply Bows and Chairs Covers Franchising Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Website

25% straight line

Equipment

25% straight line

Furniture and fittings

33% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Simply Bows and Chairs Covers Franchising Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100