Registered number
07248075
Life Styles Bridal Ltd
Unaudited Filleted Accounts
31 May 2023
Life Styles Bridal Ltd
Registered number: 07248075
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Current assets
Stocks - 25,000
Cash at bank and in hand - 13,870
- 38,870
Creditors: amounts falling due within one year 4 (47,431) (56,932)
Net current liabilities (47,431) (18,062)
Total assets less current liabilities (47,431) (18,062)
Creditors: amounts falling due after more than one year 5 - (4,583)
Net liabilities (47,431) (22,645)
Capital and reserves
Called up share capital 1 1
Profit and loss account (47,432) (22,646)
Shareholder's funds (47,431) (22,645)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs K Peters
Director
Approved by the board on 5 February 2024
Life Styles Bridal Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from the rendering of services.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Where material 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 4,112
At 31 May 2023 4,112
Depreciation
At 1 June 2022 4,112
At 31 May 2023 4,112
Net book value
At 31 May 2023 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 47,431 56,932
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 4,583
6 Other information
Life Styles Bridal Ltd is a private company limited by shares and incorporated in England. Its registered office is:
49 Beverston Rd
Tipton
West Midlands
DY4 0DE
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