Registered number
08566854
Bear & Rabbit Designs Limited
Unaudited Filleted Accounts
30 June 2023
API Partnership Limited t/a Chandler & Georges
Chartered Accountants
75 Westow Hill
Crystal Palace
London
SE19 1TX
Ph. 0208 761 2213
Web. Www.chandlerandgeorges.co.uk
Bear & Rabbit Designs Limited
Registered number: 08566854
Statement of financial position
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,766 5,600
Current assets
Stocks 44,788 14,965
Debtors 4 24,350 25,175
Cash at bank and in hand 28,283 90,371
97,421 130,511
Creditors: amounts falling due within one year 5 (30,295) (29,390)
Net current assets 67,126 101,121
Total assets less current liabilities 70,892 106,721
Provisions for liabilities (1,064) (1,064)
Net assets 69,828 105,657
Capital and reserves
Called up share capital 100 100
Profit and loss account 69,728 105,557
Shareholder's funds 69,828 105,657
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 his 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.
Noriko Imaeda
Director
Approved by the board on 27 March 2024
Bear & Rabbit Designs Limited
Notes to the financial statements
for the year ended 30 June 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 25% Reducing Balance
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. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. 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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company including director 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2022 12,946
Additions 1,614
At 30 June 2023 14,560
Depreciation
At 1 July 2022 7,346
Charge for the year 3,448
At 30 June 2023 10,794
Net book value
At 30 June 2023 3,766
At 30 June 2022 5,600
4 Debtors 2023 2022
£ £
Trade debtors - 22,350
Other debtors 24,350 2,825
24,350 25,175
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 442 -
Corporation tax 11,457 22,913
Other creditors 18,396 6,477
30,295 29,390
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Noriko Imaeda
Loan 14,970 14,970
- 14,970 - 14,970
7 Controlling party
The company is controlled by Noriko Imaeda who owns 100% shares of the company.
8 Other information
Bear & Rabbit Designs Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Westow Hill
Crystal Palace
London
SE19 1TX
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