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BUTTERFLIES CHILDRENS WEAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022






BUTTERFLIES CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 07372345)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BUTTERFLIES CHILDRENS WEAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mrs L Bunn





REGISTERED OFFICE: 7 Cross Street
Wakefield
West Yorkshire
WF1 3BW





REGISTERED NUMBER: 07372345 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

BUTTERFLIES CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 07372345)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Debtors 5 34,200 40,828
Cash at bank and in hand 13,166 31,445
47,366 72,273
CREDITORS
Amounts falling due within one year 6 20,697 21,905
NET CURRENT ASSETS 26,669 50,368
TOTAL ASSETS LESS CURRENT LIABILITIES 26,669 50,368

CREDITORS
Amounts falling due after more than one
year

7

15,442

21,502
NET ASSETS 11,227 28,866

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 11,226 28,865
SHAREHOLDERS' FUNDS 11,227 28,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

BUTTERFLIES CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 07372345)

BALANCE SHEET - continued
31 DECEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2024 and were signed by:





Mrs L Bunn - Director


BUTTERFLIES CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 07372345)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Butterflies Childrens Wear Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

BUTTERFLIES CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 07372345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 3 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2022
and 31 December 2022 60,000
AMORTISATION
At 1 January 2022
and 31 December 2022 60,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors - 39,018
Other debtors 34,200 -
VAT - 1,810
34,200 40,828

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 5,923 5,640
Trade creditors 2,302 6,079
Tax - 8,277
Directors' current accounts 12,472 34
Accrued expenses - 1,875
20,697 21,905

The director's loan account is interest free and repayable on demand.

BUTTERFLIES CHILDRENS WEAR LIMITED (REGISTERED NUMBER: 07372345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans - 1-2 years 6,073 6,124
Bank loans - 2-5 years 9,369 15,378
15,442 21,502

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
1 Ordinary 1 1 1

9. ULTIMATE CONTROLLING PARTY

Mrs L Crawshaw has a beneficial interest in the entire issued share capital and therefore controls the company.