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REGISTERED NUMBER: 06670466 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Bare Necessity Solutions Limited

Bare Necessity Solutions Limited (Registered number: 06670466)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bare Necessity Solutions Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: I Yoram
Mrs L C Yoram





REGISTERED OFFICE: 1 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW





REGISTERED NUMBER: 06670466 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
1 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

Bare Necessity Solutions Limited (Registered number: 06670466)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 512 838
Investments 5 100 100
612 938

CURRENT ASSETS
Stocks 5,144 4,626
Debtors 6 91,725 102,870
Cash at bank and in hand 803 588
97,672 108,084
CREDITORS
Amounts falling due within one year 7 16,162 17,818
NET CURRENT ASSETS 81,510 90,266
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,122

91,204

CREDITORS
Amounts falling due after more than one
year

8

(28,859

)

(29,501

)

PROVISIONS FOR LIABILITIES (128 ) (159 )
NET ASSETS 53,135 61,544

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 53,035 61,444
SHAREHOLDERS' FUNDS 53,135 61,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Bare Necessity Solutions Limited (Registered number: 06670466)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by:





I Yoram - Director


Bare Necessity Solutions Limited (Registered number: 06670466)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Bare Necessity Solutions 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Bare Necessity Solutions Limited (Registered number: 06670466)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 2,018
DEPRECIATION
At 1 January 2023 1,180
Charge for year 326
At 31 December 2023 1,506
NET BOOK VALUE
At 31 December 2023 512
At 31 December 2022 838

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 100
NET BOOK VALUE
At 31 December 2023 100
At 31 December 2022 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 612 -
Amounts owed by group undertakings 79,746 97,066
Other debtors 11,367 5,804
91,725 102,870

Bare Necessity Solutions Limited (Registered number: 06670466)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 12,048 9,817
Trade creditors 1,516 742
Taxation and social security 1,975 3,745
Other creditors 623 3,514
16,162 17,818

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 28,859 29,501

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 7,876 -
Between one and five years 16,407 -
24,283 -

10. OTHER FINANCIAL COMMITMENTS

The company had two outstanding charges held by Barclays Bank plc as at 31 December 2022.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end, the director owed £6,216 to the company. The loan is unsecured and repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs Yoram.