2022-04-012023-03-312023-03-31false06169698BOTHY THREADS LTD2023-11-1082990iso4217:GBPxbrli:pure061696982022-04-01061696982023-03-31061696982022-04-012023-03-31061696982021-04-01061696982022-03-31061696982021-04-012022-03-3106169698bus:SmallEntities2022-04-012023-03-3106169698bus:AuditExempt-NoAccountantsReport2022-04-012023-03-3106169698bus:FullAccounts2022-04-012023-03-3106169698bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106169698core:WithinOneYear2023-03-3106169698core:AfterOneYear2023-03-3106169698core:WithinOneYear2022-03-3106169698core:AfterOneYear2022-03-3106169698core:ShareCapital2023-03-3106169698core:SharePremium2023-03-3106169698core:RevaluationReserve2023-03-3106169698core:OtherReservesSubtotal2023-03-3106169698core:RetainedEarningsAccumulatedLosses2023-03-3106169698core:ShareCapital2022-03-3106169698core:SharePremium2022-03-3106169698core:RevaluationReserve2022-03-3106169698core:OtherReservesSubtotal2022-03-3106169698core:RetainedEarningsAccumulatedLosses2022-03-3106169698core:LandBuildings2023-03-3106169698core:PlantMachinery2023-03-3106169698core:Vehicles2023-03-3106169698core:FurnitureFittings2023-03-3106169698core:OfficeEquipment2023-03-3106169698core:NetGoodwill2023-03-3106169698core:IntangibleAssetsOtherThanGoodwill2023-03-3106169698core:ListedExchangeTraded2023-03-3106169698core:UnlistedNon-exchangeTraded2023-03-3106169698core:LandBuildings2022-03-3106169698core:PlantMachinery2022-03-3106169698core:Vehicles2022-03-3106169698core:FurnitureFittings2022-03-3106169698core:OfficeEquipment2022-03-3106169698core:NetGoodwill2022-03-3106169698core:IntangibleAssetsOtherThanGoodwill2022-03-3106169698core:ListedExchangeTraded2022-03-3106169698core:UnlistedNon-exchangeTraded2022-03-3106169698core:LandBuildings2022-04-012023-03-3106169698core:PlantMachinery2022-04-012023-03-3106169698core:Vehicles2022-04-012023-03-3106169698core:FurnitureFittings2022-04-012023-03-3106169698core:OfficeEquipment2022-04-012023-03-3106169698core:NetGoodwill2022-04-012023-03-3106169698core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106169698core:ListedExchangeTraded2022-04-012023-03-3106169698core:UnlistedNon-exchangeTraded2022-04-012023-03-3106169698core:MoreThanFiveYears2022-04-012023-03-3106169698core:Non-currentFinancialInstruments2023-03-3106169698core:Non-currentFinancialInstruments2022-03-3106169698dpl:CostSales2022-04-012023-03-3106169698dpl:DistributionCosts2022-04-012023-03-3106169698core:LandBuildings2022-04-012023-03-3106169698core:PlantMachinery2022-04-012023-03-3106169698core:Vehicles2022-04-012023-03-3106169698core:FurnitureFittings2022-04-012023-03-3106169698core:OfficeEquipment2022-04-012023-03-3106169698dpl:AdministrativeExpenses2022-04-012023-03-3106169698core:NetGoodwill2022-04-012023-03-3106169698core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3106169698dpl:GroupUndertakings2022-04-012023-03-3106169698dpl:ParticipatingInterests2022-04-012023-03-3106169698dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3106169698core:ListedExchangeTraded2022-04-012023-03-3106169698dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3106169698core:UnlistedNon-exchangeTraded2022-04-012023-03-3106169698dpl:CostSales2021-04-012022-03-3106169698dpl:DistributionCosts2021-04-012022-03-3106169698core:LandBuildings2021-04-012022-03-3106169698core:PlantMachinery2021-04-012022-03-3106169698core:Vehicles2021-04-012022-03-3106169698core:FurnitureFittings2021-04-012022-03-3106169698core:OfficeEquipment2021-04-012022-03-3106169698dpl:AdministrativeExpenses2021-04-012022-03-3106169698core:NetGoodwill2021-04-012022-03-3106169698core:IntangibleAssetsOtherThanGoodwill2021-04-012022-03-3106169698dpl:GroupUndertakings2021-04-012022-03-3106169698dpl:ParticipatingInterests2021-04-012022-03-3106169698dpl:GroupUndertakingscore:ListedExchangeTraded2021-04-012022-03-3106169698core:ListedExchangeTraded2021-04-012022-03-3106169698dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2021-04-012022-03-3106169698core:UnlistedNon-exchangeTraded2021-04-012022-03-3106169698core:NetGoodwill2023-03-3106169698core:IntangibleAssetsOtherThanGoodwill2023-03-3106169698core:LandBuildings2023-03-3106169698core:PlantMachinery2023-03-3106169698core:Vehicles2023-03-3106169698core:FurnitureFittings2023-03-3106169698core:OfficeEquipment2023-03-3106169698core:AfterOneYear2023-03-3106169698core:WithinOneYear2023-03-3106169698core:ListedExchangeTraded2023-03-3106169698core:UnlistedNon-exchangeTraded2023-03-3106169698core:ShareCapital2023-03-3106169698core:SharePremium2023-03-3106169698core:RevaluationReserve2023-03-3106169698core:OtherReservesSubtotal2023-03-3106169698core:RetainedEarningsAccumulatedLosses2023-03-3106169698core:NetGoodwill2022-03-3106169698core:IntangibleAssetsOtherThanGoodwill2022-03-3106169698core:LandBuildings2022-03-3106169698core:PlantMachinery2022-03-3106169698core:Vehicles2022-03-3106169698core:FurnitureFittings2022-03-3106169698core:OfficeEquipment2022-03-3106169698core:AfterOneYear2022-03-3106169698core:WithinOneYear2022-03-3106169698core:ListedExchangeTraded2022-03-3106169698core:UnlistedNon-exchangeTraded2022-03-3106169698core:ShareCapital2022-03-3106169698core:SharePremium2022-03-3106169698core:RevaluationReserve2022-03-3106169698core:OtherReservesSubtotal2022-03-3106169698core:RetainedEarningsAccumulatedLosses2022-03-3106169698core:NetGoodwill2021-04-0106169698core:IntangibleAssetsOtherThanGoodwill2021-04-0106169698core:LandBuildings2021-04-0106169698core:PlantMachinery2021-04-0106169698core:Vehicles2021-04-0106169698core:FurnitureFittings2021-04-0106169698core:OfficeEquipment2021-04-0106169698core:AfterOneYear2021-04-0106169698core:WithinOneYear2021-04-0106169698core:ListedExchangeTraded2021-04-0106169698core:UnlistedNon-exchangeTraded2021-04-0106169698core:ShareCapital2021-04-0106169698core:SharePremium2021-04-0106169698core:RevaluationReserve2021-04-0106169698core:OtherReservesSubtotal2021-04-0106169698core:RetainedEarningsAccumulatedLosses2021-04-0106169698core:AfterOneYear2022-04-012023-03-3106169698core:WithinOneYear2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:CostValuation2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-04-012023-03-3106169698core:Non-currentFinancialInstrumentscore:CostValuation2023-03-3106169698core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-03-3106169698core:Non-currentFinancialInstrumentscore:CostValuation2022-03-3106169698core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2022-03-3106169698core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2022-03-3106169698bus:Director12022-04-012023-03-3106169698bus:Director22022-04-012023-03-3106169698bus:Director32022-04-012023-03-3106169698core:FurnitureFittingsToolsEquipment2022-03-3106169698core:FurnitureFittingsToolsEquipment2022-04-012023-03-3106169698core:FurnitureFittingsToolsEquipment2023-03-31

BOTHY THREADS LTD

Registered Number
06169698
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

BOTHY THREADS LTD
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

GOLBY, Claire Eleanor
GOLBY, Iona Jennifer
RAYMENT, Christine

Registered Address

Unit 7 Aspatria Business Park
Park Road
Wigton
CA7 3DP

Registered Number

06169698 (England and Wales)
BOTHY THREADS LTD
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets5-1
Tangible assets623,52427,419
23,52427,420
Current assets
Stocks9300,659291,788
Debtors101,440,6361,345,802
Cash at bank and on hand86,84472,832
1,828,1391,710,422
Creditors amounts falling due within one year11(183,534)(183,747)
Net current assets (liabilities)1,644,6051,526,675
Total assets less current liabilities1,668,1291,554,095
Provisions for liabilities12(5,881)(6,855)
Net assets1,662,2481,547,240
Capital and reserves
Called up share capital105105
Profit and loss account1,662,1431,547,135
Shareholders' funds1,662,2481,547,240
The financial statements were approved and authorised for issue by the Board of Directors on 10 November 2023, and are signed on its behalf by:
GOLBY, Claire Eleanor
Director
GOLBY, Iona Jennifer
Director
RAYMENT, Christine
Director

Registered Company No. 06169698
BOTHY THREADS LTD
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
3.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill is amortised over 5 years
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Income Statement
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the Income Statement
Government grants and other government assistance policy
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
Employee benefits policy
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Valuation of financial instruments policy
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Going concern
The directors have considered the effects of the Covid19 Pandemic on the business and conclude the company is a going concern.
4.Employee information

20232022
Average number of employees during the year2022
5.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2235,76735,767
At 31 March 2335,76735,767
Amortisation and impairment
At 01 April 2235,76635,766
Charge for year11
At 31 March 2335,76735,767
Net book value
At 31 March 23--
At 31 March 2211
6.Property, plant and equipment

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 2219,22532,99552,220
Additions6,0752,0368,111
At 31 March 2325,30035,03160,331
Depreciation and impairment
At 01 April 2216,6718,13024,801
Charge for year2,5459,46112,006
At 31 March 2319,21617,59136,807
Net book value
At 31 March 236,08417,44023,524
At 31 March 222,55424,86527,419
7.Description of financial commitments other than capital commitments
At 31 March 2023 the company had future minimum lease payments under non-cancellable operating leases of £50,000 (2022 - £74,000).
8.Description of nature of transactions and balances with related parties
During the year the company had a loan account with the parent company, Bothy Threads Property Management Limited. At the year end the company was owed £1,243,255 (2022 - £1,201,255) by the parent company, included in other debtors.
9.Stocks

2023

2022

££
Raw materials and consumables300,659291,788
Total300,659291,788
10.Debtors

2023

2022

££
Trade debtors / trade receivables151,589107,457
Other debtors1,253,0471,201,902
Prepayments and accrued income36,00036,443
Total1,440,6361,345,802
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.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables40,67761,071
Taxation and social security49,46285,446
Other creditors14,7612,201
Accrued liabilities and deferred income78,63435,029
Total183,534183,747
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.
12.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)5,8816,855
Total5,8816,855