REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
BELLA DI NOTTE LTD |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
BELLA DI NOTTE LTD |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
BELLA DI NOTTE LTD |
COMPANY INFORMATION |
For The Year Ended 31 July 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisors & Accountants |
5&6 Manor Court |
Manor Garth |
Scarborough |
North Yorkshire |
YO11 3TU |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
REPORT OF THE DIRECTORS |
For The Year Ended 31 July 2023 |
The directors present their report with the financial statements of the company for the year ended 31 July 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 August 2022 to the date of this report. |
REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS |
Bella Di Notte celebrated it's 25th anniversary in 2023, and this financial year the directors have focussed on improving the profitability of the business and continued to deliver excellent stable growth in a difficult trading climate. Increase in turnover is strong at 16% as our targeted marketing activity proves very successful at delivering new customers with excellent lifetime value. Profit before tax shows a healthy 53% improvement with operating profits now performing at 10.3%. This has been delivered through greater operating efficiencies, ongoing training of our experienced team, continued investment in IT advances to give our team upgrades to optimise workflow and product design. |
Our larger and more experienced buying and merchandising team have concentrated on delivering better quality product at key price points giving customers better choice and the product longevity the company prides itself in. We have increased our own brand collection to deliver extra fashionability for our customer profile, boosting sales and ensuring better timed garment availability. The strong company ethos of sourcing from caring family businesses with excellent business morals aligned with our mentality remains unchanged. |
Customer needs always remain our primary objective and to this end we have delivered the following upgrades this year; Greater colour range in our collection, both in store and online. A new telephone system with much improved audio quality, giving in house user comfort and functionality to handle phone calls with even better customer service. Operational and IT investment in our warehouse has enhanced pick / pack accuracy. Improved environmentally kind packaging has delivered garments in even better condition. Easier Royal Mail free returns and fully tracked deliveries have also added to the overall customer experience. |
For our hard working team we have a project of continuous IT improvements to make their jobs less laborious and more enjoyable. We continue with our individual contracts tailored to allow family-friendly flexible working so our employees can give their best. Many team members are now benefiting from working in more areas of the business and learning new skills while enjoying greater variety. We are working hard to develop our marketing team to increase the breadth of our marketing message for greater brand awareness. This will be our main focus of the next year as we accelerate growth and give women more choices. |
We look forward to enjoying making our Bella Family ethos bigger, kinder and better. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
BALANCE SHEET |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
BALANCE SHEET - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Bella di Notte Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period and also have been consistently applied within the same accounts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Freehold property | - |
Improvements to property | - |
Warehouse equipment | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 August 2022 |
Additions |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 8) |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans (see note 8) |
Hire purchase contracts |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2023 |
8. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between one and two years: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdraft |
Bank loans |
Hire purchase contracts | 18,870 | 32,927 |
In addition to the fixed and floating charge already held, the directors have also provided the bank with various joint and personal guarantees in support of the banking facilities. |
10. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 47,917 | 54,939 |
Deferred |
tax |
£ |
Balance at 1 August 2022 |
Provided during year | ( |
) |
Balance at 31 July 2023 |
BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 July 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary 'A' | £1 | 157,575 | 157,575 |
Ordinary 'B' | £1 | 2 | 2 |
157,577 | 157,577 |
The Ordinary 'B' shares are non voting and do not entitle the holder to a return of capital. The shares can only be held by employees or directors of the company and on termination of employment must be sold back to the company at their issue price. |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The directors loan has been repaid to the company since the year end. |