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Registered number: 12715162

The Soap Shack Ltd

FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31/07/2023

Prepared By:
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL11 2ER

The Soap Shack Ltd

UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31/07/2023
DIRECTORS
Mr S W Kierans
Miss N McLoughlin
REGISTERED OFFICE
45 Bank Street
Rawtenstall
Rossendale
BB4 7QN
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 12715162
ACCOUNTANTS
Gibsons Accountants Ltd
Chartered Accountants
226 Oldham Road
Rochdale
Lancashire
OL11 2ER

The Soap Shack Ltd

UNAUDITED FINANCIAL STATEMENTS
FOR THEYEARENDED31/07/2023
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

The Soap Shack Ltd

BALANCE SHEET AT 31/07/2023
20232022
Notes££
FIXED ASSETS
Tangible assets3283377
CURRENT ASSETS
Stock9,5806,063
Debtors55,8335,833
Cash at bank and in hand17,48528,577
32,89840,473
CREDITORS: Amounts falling due within one year614,91716,093
NET CURRENT ASSETS17,98124,380
TOTAL ASSETS LESS CURRENT LIABILITIES18,26424,757
PROVISIONS FOR LIABILITIES AND CHARGES7-72
NET ASSETS18,26424,685
CAPITAL AND RESERVES
Called up share capital8100100
Profit and loss account18,16424,585
SHAREHOLDERS' FUNDS18,26424,685
For the year ending 31/07/2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 20/03/2024 and signed on their behalf by
.............................
Mr S W Kierans
Director

The Soap Shack Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/07/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Equipmentreducing balance 25%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
1e. Pension Costs
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year.

The Soap Shack Ltd

1f. Government Grants
Government grants are recognised in profit and loss in the year in which they are received.
1g. Revenue Recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.
2. EMPLOYEES
20232022
No.No.
Average number of employees23
3. TANGIBLE FIXED ASSETS
EquipmentTotal
££
Cost
At 01/08/2022670670
At 31/07/2023670670
Depreciation
At 01/08/2022293293
For the year9494
At 31/07/2023387387
Net Book Amounts
At 31/07/2023283283
At 31/07/2022377377
4. STOCK 20232022
££
Stock comprises:
Stock9,5806,063
9,5806,063

The Soap Shack Ltd

5. DEBTORS 20232022
££
Amounts falling due within one year
Other debtors- Bond3,5003,500
Prepayments2,3332,333
5,8335,833
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
UK corporation tax-1,599
VAT1,6511,946
PAYE control1,123413
Salaries and wages control-80
Pension control9082
Directors current account N McLoughin11,05310,973
Accruals1,0001,000
14,91716,093
7. PROVISIONS FOR LIABILITIES 20232022
££
Deferred taxation-72
-72
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
100 Ordinary shares of £1 each100100
100100
9. CONTROLLING PARTY
The Company is controlled by the directors whom own 100% of the share capital.

The Soap Shack Ltd

10. RELATED PARTY TRANSACTIONS
The Soap Shack Ltd purchased good from The Soap Shack Wholesale Ltd during the period amounting to £36,435 ( 2022 :£18,434), a company which is owned by the directors.