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Company registration number: 04534142











________________________________________________________________________________________


BEELINE UK ACCESSORIES LIMITED

________________________________________________________________________________________



ANNUAL REPORT

INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 
31 DECEMBER 2023

 
BEELINE UK ACCESSORIES LIMITED
REGISTERED NUMBER:04534142

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
727
13,358

  
727
13,358

Current assets
  

Debtors
 5 
790,902
791,846

Cash at bank and in hand
  
573,345
404,015

  
1,364,247
1,195,861

Creditors: amounts falling due within one year
 6 
(563,583)
(571,688)

Net current assets
  
 
 
800,664
 
 
624,173

Total assets less current liabilities
  
801,391
637,531

  

Net assets
  
801,391
637,531


Capital and reserves
  

Called up share capital 
 7 
200,000
200,000

Profit and loss account
 8 
601,391
437,531

  
801,391
637,531


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board on 2 July 2024 and were signed on its behalf by:




M Oeuvrard
Director

Page 1

 
BEELINE UK ACCESSORIES LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
200,000
833,380
1,033,380



Profit for the year
-
146,151
146,151

Dividends: Equity capital
-
(542,000)
(542,000)



At 1 January 2023
200,000
437,531
637,531



Profit for the year
-
163,860
163,860


At 31 December 2023
200,000
601,391
801,391


Page 2

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Statement of compliance

The Company's principal activity is the provision of services relating to the sale of fashion accessories by a group company.
Beeline UK Accessories Limited is a private company limited by shares and is incorporated and domiciled in England and Wales.  The address of its registered office is 15 Whitehall, London, SW1A 2DD.

  
1.2

Basis of preparation

The financial statements have been prepared in accordance with United Kingdom Accounting Standards, including Section 1A 'Small Entities' of Financial Reporting Standard 102, ‘the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’ (“FRS 102”) and the Companies Act 2006.  The financial statements have been prepared under the historical cost convention.
The preparation of financial statements requires the use of certain critical accounting estimates.  It also requires management to exercise its judgement in the process of applying the Company's accounting policies.  The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in note 2.

  
1.3

Revenue

Revenue is recognised to the extent that the Company obtains the right to consideration in exchange for its performance.  Revenue is measured at the fair value of the consideration received or receivable, net of discounts, rebates and value added tax.  The following criteria must also be met before revenue is recognised:
Sale of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Interest income
Revenue is recognised as interest accrues using the effective interest method.

Page 3

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

  
1.4

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.  Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use and dismantling and restoration costs.
 
Depreciation is calculated, using the straight line method, to allocate the cost of assets less their residual value over their estimated useful lives, as follows:
                Office Equipment        -  13 years
The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.  The effect of any change is accounted for prospectively.
Subsequent costs are included in the assets’ carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the Company and the cost can be measured reliably.  Repairs and maintenance costs are expensed as incurred.
Tangible fixed assets are derecognised on disposal or when no future economic benefits are expected.  On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Profit and Loss Account and included in ‘administrative expenses’.

  
1.5

Financial instruments

The Company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.
Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.  Any losses arising from impairment are recognised in the Profit and Loss Account in ‘administrative expenses’.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.
Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 4

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

  
1.6

Foreign currency translation

Functional and presentation currency
The Company's functional and presentation currency is the pound sterling.
 
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.  At each period end foreign currency monetary items are translated using the closing rate. Non monetary items measured at historical cost are translated using the exchange rate at the date of the transaction.  Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account and included in 'administrative expenses'.

  
1.7

Operating leases: lessee

At inception the Company assesses agreements that transfer the right to use assets.  The assessment considers whether the arrangement is, or contains, a lease based on the substance of the arrangement.
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases.  Rentals payable under operating leases are charged to the Profit and Loss Account on a straight line basis over the period of the lease.  Lease incentives are recognised over the lease term on a straight line basis.

  
1.8

Defined contribution pension plans

The Company contributes to a defined contribution plan for its employees.  A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity.  Once the contributions have been paid the Company has no further payment obligations.  The contributions are recognised as an expense when they are due.  Amounts not paid are shown in accruals in the balance sheet.  The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

  
1.9

Taxation

Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the Profit and Loss Account. Current or deferred taxation assets and liabilities are not discounted.
Current tax
Current tax is the amount of corporation tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.
Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
 
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and profit on ordinary activities before taxation as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

  
1.10

Share capital

Ordinary shares are classified as equity.

  
1.11

Distributions to equity holders

Final dividends to the Company’s shareholder are recognised as a liability in the financial statements in the period in which the dividends are approved by the shareholder. Interim dividends are recognised when paid.
 
  
1.12

Related party transactions

The Company discloses transactions with related parties which are not wholly owned within the same group. It does not disclose transactions with members of the same group that are wholly owned. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors separate disclosure is necessary to understand the effect of the transactions on the Company’s financial statements.

Page 6

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

  
1.13

Government grants

Grants of a revenue nature are accounted for using the accrual model and are recognised in the Profit and Loss Account under the heading 'other operating income' in the same period as the related expenditure.


2.


Judgements in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements management are required to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from these estimates. Whilst management have made judgements, estimates and assumptions in preparing these financial statements, they consider that these have not had a significant effect on amounts recognised.


3.


Employees

The average monthly number of employees, including directors, during the year was 200 (2022 - 193).


4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
34,606


Disposals
(20,355)



At 31 December 2023

14,251



Depreciation


At 1 January 2023
21,248


Charge for the year on owned assets
627


Disposals
(8,351)



At 31 December 2023

13,524



Net book value



At 31 December 2023
727



At 31 December 2022
13,358

Page 7

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
624,900
618,687

Other debtors
137,416
117,230

Prepayments and accrued income
28,586
55,929

790,902
791,846



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
55,451
30,062

Amounts owed to group undertakings
156,453
282,561

Corporation tax
33,978
21,065

Tax due to HMRC
44,830
44,011

Other creditors
7,704
10,625

Accruals and deferred income
265,167
183,364

563,583
571,688



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200,000 (2022 - 200,000) Ordinary shares of £1.00 each
200,000
200,000



8.


Reserves

Profit and loss account

The profit and loss account is a distributable reserve. 


9.


Controlling party

The Company's immediate and ultimate parent company is beeline GmbH, which is the parent of the smallest group for which consolidated financial statements are drawn up.  The registered office of beeline GmbH is Gruenstrasse 1, 51063 Cologne, Germany

Page 8

 
BEELINE UK ACCESSORIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Auditors' information

As the profit and loss account has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 2 July 2024 by Martin J. Rooney (Senior Statutory Auditor) on behalf of   F. W. Smith, Riches & Co.

 
Page 9