Company registration number 10034949 (England and Wales)
DRAGONS DEN FANCY DRESS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
DRAGONS DEN FANCY DRESS LIMITED
COMPANY INFORMATION
Directors
Mr K Butcher
Mrs D Butcher
Company number
10034949
Registered office
Bishops Chartered Accountants
Phoenix Park
Blakewater Road
Blackburn
BB1 5BG
Accountants
Bishops
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
Business address
Vending House
Snowden Road
St Annes
Lancashire
FY8 3DP
DRAGONS DEN FANCY DRESS LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
DRAGONS DEN FANCY DRESS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF DRAGONS DEN FANCY DRESS LIMITED FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dragons Den Fancy Dress Limited for the year ended 31 March 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Dragons Den Fancy Dress Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Dragons Den Fancy Dress Limited and state those matters that we have agreed to state to the Board of Directors of Dragons Den Fancy Dress Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dragons Den Fancy Dress Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Dragons Den Fancy Dress Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Dragons Den Fancy Dress Limited. You consider that Dragons Den Fancy Dress 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 financial statements of Dragons Den Fancy Dress 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 financial statements.

Bishops
28 November 2023
Chartered Accountants
1 Croft Court
Plumpton Close
Whitehills Business Park
Blackpool
Lancashire
FY4 5PR
DRAGONS DEN FANCY DRESS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,894
22,194
Current assets
Stocks
35,000
35,000
Debtors
4
48,043
22,058
Cash at bank and in hand
13,866
15,572
96,909
72,630
Creditors: amounts falling due within one year
5
(51,884)
(40,627)
Net current assets
45,025
32,003
Total assets less current liabilities
61,919
54,197
Creditors: amounts falling due after more than one year
6
(36,691)
(42,790)
Provisions for liabilities
(4,111)
(3,854)
Net assets
21,117
7,553
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
21,017
7,453
Total equity
21,117
7,553

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 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.

DRAGONS DEN FANCY DRESS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 28 November 2023 and are signed on its behalf by:
Mr K Butcher
Mrs D Butcher
Director
Director
Company registration number 10034949 (England and Wales)
DRAGONS DEN FANCY DRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information

Dragons Den Fancy Dress Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bishops Chartered Accountants, Phoenix Park, Blakewater Road, Blackburn, BB1 5BG. The principal place of business is Vending House, Snowden Road, St Annes, Lancashire, FY8 3DP.

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:

Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computers
33% on cost
Motor vehicles
20% on cost

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.

DRAGONS DEN FANCY DRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

DRAGONS DEN FANCY DRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 6 -
1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
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:

2023
2022
Number
Number
Total
11
11
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
16,300
10,909
3,806
34,299
65,314
Additions
-
0
-
0
559
-
0
559
At 31 March 2023
16,300
10,909
4,365
34,299
65,873
Depreciation and impairment
At 1 April 2022
7,131
8,968
3,417
23,604
43,120
Depreciation charged in the year
2,292
485
408
2,674
5,859
At 31 March 2023
9,423
9,453
3,825
26,278
48,979
Carrying amount
At 31 March 2023
6,877
1,456
540
8,021
16,894
At 31 March 2022
9,169
1,941
389
10,695
22,194
DRAGONS DEN FANCY DRESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,738
32
Corporation tax recoverable
4,620
3,995
Other debtors
37,685
18,031
48,043
22,058
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6,000
5,882
Trade creditors
3,734
1,123
Corporation tax
22,623
21,970
Other taxation and social security
16,875
8,999
Other creditors
2,652
2,653
51,884
40,627
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
36,691
42,790
2023-03-312022-04-01false28 November 2023CCH SoftwareCCH Accounts Production 2023.200No description of principal activityMr K ButcherMrs D Butcher100349492022-04-012023-03-3110034949bus:Director12022-04-012023-03-3110034949bus:Director22022-04-012023-03-3110034949bus:RegisteredOffice2022-04-012023-03-31100349492023-03-31100349492022-03-3110034949core:PlantMachinery2023-03-3110034949core:FurnitureFittings2023-03-3110034949core:ComputerEquipment2023-03-3110034949core:MotorVehicles2023-03-3110034949core:PlantMachinery2022-03-3110034949core:FurnitureFittings2022-03-3110034949core:ComputerEquipment2022-03-3110034949core:MotorVehicles2022-03-3110034949core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3110034949core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3110034949core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3110034949core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3110034949core:CurrentFinancialInstruments2023-03-3110034949core:CurrentFinancialInstruments2022-03-3110034949core:ShareCapital2023-03-3110034949core:ShareCapital2022-03-3110034949core:RetainedEarningsAccumulatedLosses2023-03-3110034949core:RetainedEarningsAccumulatedLosses2022-03-3110034949core:PlantMachinery2022-04-012023-03-3110034949core:FurnitureFittings2022-04-012023-03-3110034949core:ComputerEquipment2022-04-012023-03-3110034949core:MotorVehicles2022-04-012023-03-31100349492021-04-012022-03-3110034949core:PlantMachinery2022-03-3110034949core:FurnitureFittings2022-03-3110034949core:ComputerEquipment2022-03-3110034949core:MotorVehicles2022-03-31100349492022-03-3110034949core:WithinOneYear2023-03-3110034949core:WithinOneYear2022-03-3110034949core:Non-currentFinancialInstruments2023-03-3110034949core:Non-currentFinancialInstruments2022-03-3110034949bus:PrivateLimitedCompanyLtd2022-04-012023-03-3110034949bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3110034949bus:FRS1022022-04-012023-03-3110034949bus:AuditExemptWithAccountantsReport2022-04-012023-03-3110034949bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP