REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Family Bliss Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
Family Bliss Limited |
Family Bliss Limited (Registered number: 08930334) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Family Bliss Limited |
Company Information |
for the year ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Datum House |
Electra Way |
Crewe |
Cheshire |
CW1 6ZF |
Family Bliss Limited (Registered number: 08930334) |
Statement of Financial Position |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors: amounts falling due within one year | 8 |
Debtors: amounts falling due after more than one year |
8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
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. |
Family Bliss Limited (Registered number: 08930334) |
Statement of Financial Position - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Family Bliss Limited (Registered number: 08930334) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Family Bliss Limited ('The Company') is a family investment company. |
The company is a private company limited by shares and is incorporated in England and Wales. The address of the principal place of business is 89 Admirals Walk, West Cliff Road, Bournemouth, Dorset, BH2 5HG and the address of the registered office is Datum House, Electra Way, Crewe, Cheshire, CW1 6ZF. The registered number can be found on the Company Information page. |
The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Summary of significant accounting policies |
The principle accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented, unless otherwise stated. |
Basis of preparation |
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. |
Going concern |
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. |
On this basis the directors consider it appropriate to prepare the financial statements on the going concern basis. |
Tangible fixed assets |
Computer equipment | - |
Investment property |
Investment property is shown at fair value, the fair value is reviewed annually by the director. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income. The cumulative fair value surplus on the investment property is highlighted in the notes to the financial statements as non-distributable reserves. Rentals received in the year from the investment property are included in other income. Rentals are recognised on a straight line basis over the period of the lease or to the date of the next rent review. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the end of the financial year. |
Family Bliss Limited (Registered number: 08930334) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the end of the financial year. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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. |
Fixed asset investments |
Unlisted investments are shown at cost less any impairment loss. |
Investment income from both listed investments and unlisted investments is included in other income. |
Impairment of assets |
Assets not measured at fair value are reviewed for any indications that the asset may be impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
5. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Family Bliss Limited (Registered number: 08930334) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2022 |
Revaluations | 49,000 |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Fair value at 31 March 2023 is represented by: |
£ |
Valuation in 2023 | 215,171 |
Cost | 517,829 |
733,000 |
8. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
Family Bliss Limited (Registered number: 08930334) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Amounts owed to related parties are unsecured, interest free and repayable on demand. |
10. | LEASING AGREEMENTS |
Minimum lease payments receivable fall due as follows: |
Non-cancellable operating |
leases |
2023 | 2022 |
£ | £ |
Within one year | 26,326 | 13,438 |
26,326 | 13,438 |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 23,157 | 9,052 |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Charge to Income Statement during year |
Balance at 31 March 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Family Bliss Limited (Registered number: 08930334) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
Directors' interests in transactions during the year and balances outstanding at the end of the reporting period were as follows: |
Directors: |
2023 | 2022 |
£ | £ |
Loan interest receivable | 4,319 | 6,694 |
Individuals connected to the directors: |
2023 | 2022 |
£ | £ |
Amounts owed by individuals | 9,760 | 9,760 |
13. | RELATED PARTY DISCLOSURES |
Transactions with related parties during the year and balances outstanding at the end of the reporting period were as follows: |
Entities over which the directors have control: |
2023 | 2022 |
£ | £ |
Loan interest receivable | - | 10 |
Management fees | 16,000 | 16,000 |
Amounts owed to entities | 15,241 | 2,838 |
14. | NON-DISTRIBUTABLE RESERVES |
Included within retained earnings is an amount of £161,378 (2022: £124,628) which is non-distributable. |