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Registered Number: 13509190
England and Wales

 

 

 

BUCKLE AND BAND LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2022

End date: 31 July 2023
Director Mark Robert Brown
Registered Number 13509190
Registered Office 517-518 Royal Exchange
Manchester
M2 7EN
Accountants Woods Squared Limited
The Old School
188 Liscard Road
Wallasey
Wirral
CH44 5TN
1
Director's report and financial statements
The director presents their annual report and the financial statements for the year ended 31 July 2023.
Principal activities
The principal activity of the company during the financial year was that of the design and online sales of luxury watch straps.
Director
The director who served the company throughout the year was as follows:
Mark Robert Brown
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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 they are 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 then apply them consistently
  • make judgments 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 disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director 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.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Mark Robert Brown
Director

Date approved: 08 February 2024
2
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 903   
Tangible fixed assets 4 433    865 
1,336    865 
Current assets      
Stocks 5 41,575    4,600 
Debtors: amounts falling due within one year 6 3,006    1,028 
Cash at bank and in hand 5,986    4,314 
50,567    9,942 
Creditors: amount falling due within one year 7 (54,954)   (27,966)
Net current liabilities (4,387)   (18,024)
 
Total assets less current liabilities (3,051)   (17,159)
Provisions for liabilities 8 (82)   (164)
Net liabilities (3,133)   (17,323)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (3,134)   (17,324)
Shareholder's funds (3,133)   (17,323)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 08 February 2024 and were signed by:


-------------------------------
Mark Robert Brown
Director
3
General Information
Buckle and Band Ltd is a private company, limited by shares, registered in England and Wales, registration number 13509190, registration address 517-518 Royal Exchange, Manchester, M2 7EN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Other   Total
  £   £
At 01 August 2022  
Additions 903    903 
Disposals  
At 31 July 2023 903    903 
Amortisation
At 01 August 2022  
Charge for year  
On disposals  
At 31 July 2023  
Net book values
At 31 July 2023 903    903 
At 31 July 2022  


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 August 2022 1,298    1,298 
Additions  
Disposals  
At 31 July 2023 1,298    1,298 
Depreciation
At 01 August 2022 433    433 
Charge for year 432    432 
On disposals  
At 31 July 2023 865    865 
Net book values
Closing balance as at 31 July 2023 433    433 
Opening balance as at 01 August 2022 865    865 


5.

Stocks

2023
£
  2022
£
Stocks 41,575    4,600 
41,575    4,600 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors 3,006    1,028 
3,006    1,028 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 6,294    7,651 
Other Creditors 48,660    20,315 
54,954    27,966 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 82    164 
82    164 

4