Company registration number 10632971 (England and Wales)
BEAUTY BY TABITHA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
BEAUTY BY TABITHA LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BEAUTY BY TABITHA LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
99,738
110,707
Current assets
Stocks
20,890
12,858
Debtors
3
332
352
Cash at bank and in hand
39,389
33,147
60,611
46,357
Creditors: amounts falling due within one year
5
(234,488)
(240,680)
Net current liabilities
(173,877)
(194,323)
Total assets less current liabilities
(74,139)
(83,616)
Creditors: amounts falling due after more than one year
4
(34,722)
(40,278)
Net liabilities
(108,861)
(123,894)
Capital and reserves
Called up share capital
7
4
4
Profit and loss reserves
(108,865)
(123,898)
Total equity
(108,861)
(123,894)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BEAUTY BY TABITHA LIMITED
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 November 2023 and are signed on its behalf by:
Mrs P L Robinson
Director
Company Registration No. 10632971
BEAUTY BY TABITHA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 3 -
1
Accounting policies
Company information
Beauty By Tabitha Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moorhouse Farm, Lower Ferry Lane, Callow End, Worcester, United Kingdom, WR2 4UH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the total value of sales made during the period and derives from the provision of services falling within the company's ordinary activities.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold building improvements
Straight line basis over 10 years
Fixtures, fittings and equipment
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price.
1.5
Taxation
The tax expense represents the sum of the tax currently payable only. No provision is made for deferred tax as any sum involved is not material.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
BEAUTY BY TABITHA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies
(Continued)
- 4 -
1.8
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 13 (2022 - 14).
2023
2022
Number
Number
Total
13
14
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
332
352
4
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
34,722
40,278
5
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans and overdrafts
6
5,556
5,556
Loan - Worcestershire Orthopaedics Limted
6
140,904
152,904
Trade creditors
24,852
21,949
Other taxation and social security
15,631
13,092
Directors' Loan Account
42,552
42,609
Other creditors
667
636
Accruals
4,326
3,934
234,488
240,680
BEAUTY BY TABITHA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 5 -
6
Loans and overdrafts
2023
2022
£
£
Bank loans
40,278
45,834
Loans from group undertakings and related parties
140,904
152,904
181,182
198,738
Payable within one year
146,460
158,460
Payable after one year
34,722
40,278
As a result of the Covid-19 pandemic the company obtained a bounce-back loan in May 2020 of £50,000 which was originally to be repaid over 60 months. However, this was then subsequently changed to 120 months with no repayments in the first twelve months. Repayments commenced in May 2021 for a period of 108 months.
7
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
4 Ordinary of £1 each
4
4
4
4
8
Related party transactions
The following amounts were outstanding at the reporting end date:
2023
2022
Amounts due to related parties
£
£
Worcestershire Orthopaedics Limited
140,904
152,904