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REGISTERED NUMBER: 04894333 (England and Wales)
























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: Mrs S Morley
Mr C J Morley





SECRETARY: Mr C J Morley





REGISTERED OFFICE: Malton Enterprise Park
6 Cherry Farm Close (Unit 1)
Malton
North Yorkshire
YO17 6AD





REGISTERED NUMBER: 04894333 (England and Wales)





ACCOUNTANTS: Fortus North Limited
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.

Mrs S Morley
Mr C J Morley

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:





Mr C J Morley - Director


13 November 2023

BELLA DI NOTTE LTD (REGISTERED NUMBER: 04894333)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 553,651 593,161

CURRENT ASSETS
Stocks 900,163 832,679
Debtors 5 498,251 280,506
Cash at bank and in hand 249,561 8,449
1,647,975 1,121,634
CREDITORS
Amounts falling due within one year 6 853,112 726,895
NET CURRENT ASSETS 794,863 394,739
TOTAL ASSETS LESS CURRENT LIABILITIES 1,348,514 987,900

CREDITORS
Amounts falling due after more than
one year

7

(120,480

)

(186,102

)

PROVISIONS FOR LIABILITIES 10 (47,917 ) (54,939 )
NET ASSETS 1,180,117 746,859

CAPITAL AND RESERVES
Called up share capital 11 157,577 157,577
Retained earnings 1,022,540 589,282
SHAREHOLDERS' FUNDS 1,180,117 746,859

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

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

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


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 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 13 November 2023 and were signed on its behalf by:





Mrs S Morley - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 10% on cost
Warehouse equipment - 20% on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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 41 (2022 - 37 ) .

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 241,691 749,433 991,124
Additions - 44,135 44,135
At 31 July 2023 241,691 793,568 1,035,259
DEPRECIATION
At 1 August 2022 4,007 393,956 397,963
Charge for year 4,034 79,611 83,645
At 31 July 2023 8,041 473,567 481,608
NET BOOK VALUE
At 31 July 2023 233,650 320,001 553,651
At 31 July 2022 237,684 355,477 593,161

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 130,285 38,006
Other debtors 367,966 242,500
498,251 280,506

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 50,000 80,662
Hire purchase contracts 15,057 13,492
Trade creditors 274,557 408,168
Taxation and social security 350,297 156,438
Other creditors 163,201 68,135
853,112 726,895

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 116,667 166,667
Hire purchase contracts 3,813 19,435
120,480 186,102

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 - 30,662
Bank loans 50,000 50,000
50,000 80,662

Amounts falling due between one and two years:
Bank loans 50,000 50,000

Amounts falling due between two and five years:
Bank loans 66,667 116,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 30,662
Bank loans 166,667 216,667
Hire purchase contracts 18,870 32,927
185,537 280,256

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 54,939
Provided during year (7,022 )
Balance at 31 July 2023 47,917

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: £    £   
157,575 Ordinary 'A' £1 157,575 157,575
2 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
£    £   
Mrs S Morley and Mr C J Morley
Balance outstanding at start of year 28,341 13,925
Amounts advanced - 15,000
Amounts repaid (27,969 ) (584 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 372 28,341

The directors loan has been repaid to the company since the year end.