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Registration number: 10569199

The Original Electric Beach Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

The Original Electric Beach Company Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 8

 

The Original Electric Beach Company Limited

Company Information

Director

Dr Alistair James Wilson

Registered office

16 Saxby Gardens
Dogsthorpe
Peterborough
Cambridgeshire
PE1 4TD

 

The Original Electric Beach Company Limited

Director's Report for the Year Ended 31 January 2023

The director presents his report and the financial statements for the year ended 31 January 2023.

Director of the company

The director who held office during the year was as follows:

Dr Alistair James Wilson

Principal activity

The principal activity of the company is tanning and beauty treatment.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Statement of Directors' Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved and authorised by the director on 31 January 2024
 

.........................................
Dr Alistair James Wilson
Director

 

The Original Electric Beach Company Limited

Profit and Loss Account for the Year Ended 31 January 2023

Note

2023
£

2022
£

Turnover

 

-

-

Cost of sales

 

(7,928)

(7,914)

Gross loss

 

(7,928)

(7,914)

Administrative expenses

 

(13,211)

(26,107)

Operating loss

 

(21,139)

(34,021)

Interest payable and similar expenses

 

-

(316)

Loss before tax

4

(21,139)

(34,337)

Loss for the financial year

 

(21,139)

(34,337)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

The Original Electric Beach Company Limited

(Registration number: 10569199)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

5

2,071

6,065

Current assets

 

Cash at bank and in hand

 

1,281

1,281

Creditors: Amounts falling due within one year

6

(167,918)

(150,773)

Net current liabilities

 

(166,637)

(149,492)

Total assets less current liabilities

 

(164,566)

(143,427)

Creditors: Amounts falling due after more than one year

6

(35,103)

(35,103)

Net liabilities

 

(199,669)

(178,530)

Capital and Reserves

 

Called up share capital

7

100

100

Retained Earnings

(199,769)

(178,630)

Shareholders' deficit

 

(199,669)

(178,530)

For the financial year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 31 January 2024
 

.........................................
Dr Alistair James Wilson
Director

 

The Original Electric Beach Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Saxby Gardens
Dogsthorpe
Peterborough
Cambridgeshire
PE1 4TD
England

These financial statements were authorised for issue by the director on 31 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fittings and fixtures

20% Straight line

Plant and machinery

20% Straight line

Office equipment

20% Straight line

 

The Original Electric Beach Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

Motor vehicles

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

3,994

16,909

 

The Original Electric Beach Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

5

Tangible Assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2022

5,821

71,505

4,721

5,000

87,047

At 31 January 2023

5,821

71,505

4,721

5,000

87,047

Depreciation

At 1 February 2022

5,727

68,105

4,650

2,500

80,982

Charge for the year

94

3,400

-

500

3,994

At 31 January 2023

5,821

71,505

4,650

3,000

84,976

Carrying amount

At 31 January 2023

-

-

71

2,000

2,071

At 31 January 2022

94

3,400

71

2,500

6,065

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

620

620

Other creditors

167,298

150,153

167,918

150,773

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

35,103

35,103

7

Share capital

Allotted, called up and fully paid shares

 

The Original Electric Beach Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

17,003

17,003

Other borrowings

18,100

18,100

35,103

35,103