Registered number
08140259
Boutique 16 Limited
Filleted Accounts
30 July 2023
Keith Vaudrey & Co Ltd
Chartered Certified Accountants
51 Marloes Road
London, W8 6LA
Boutique 16 Limited
Registered number: 08140259
Balance Sheet
as at 30 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 36,764 43,251
Current assets
Stocks 49,240 51,990
Debtors 4 31,990 16,748
Cash at bank and in hand 129 3,716
81,359 72,454
Creditors: amounts falling due within one year 5 (89,878) (84,214)
Net current liabilities (8,519) (11,760)
Total assets less current liabilities 28,245 31,491
Creditors: amounts falling due after more than one year 6 (502,196) (450,522)
Net liabilities (473,951) (419,031)
Capital and reserves
Called up share capital 200,000 200,000
Profit and loss account (673,951) (619,031)
Shareholders' funds (473,951) (419,031)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Igor Kostin
Director
Approved by the board on 30 April 2024
Boutique 16 Limited
Notes to the Accounts
for the year ended 30 July 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:
Short term leasehold property over the lease term
Plant and machinery 15% reducing balance method
Equipment, fixtures and fittings 15% reducing balance method
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery Equipment, fixtures and fittings Total
£ £ £
Cost
At 31 July 2022 151,623 54,875 206,498
At 30 July 2023 151,623 54,875 206,498
Depreciation
At 31 July 2022 123,809 39,438 163,247
Charge for the year 4,172 2,315 6,487
At 30 July 2023 127,981 41,753 169,734
Net book value
At 30 July 2023 23,642 13,122 36,764
At 30 July 2022 27,814 15,437 43,251
4 Debtors 2023 2022
£ £
Other debtors 20,050 16,748
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,021 10,000
Accruals and deferred income 2,000 2,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 20,276 -
Taxation and social security costs 2,581 12,214
Other creditors 60,000 60,000
89,878 84,214
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 37,939 38,496
Other creditors 464,257 412,026
502,196 450,522
7 Related party transactions
The shareholder's loan account was £464,257 for the current year ended 30 July 2023 and £412,026 for the previous year due to Mr I Kostin. The loan is interest free.
8 Controlling party
Mr Igor Kostin is the sole shareholder and director with ultimate control of the company.
9 Other information
Boutique 16 Limited is a private company limited by shares and incorporated in England. Its registered office is:
51 Marloes Road
London
W8 6LA
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