Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false222023-01-01falseprovision of materials and upholstered goodstrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11110322 2023-01-01 2023-12-31 11110322 2022-01-01 2022-12-31 11110322 2023-12-31 11110322 2022-12-31 11110322 c:Director1 2023-01-01 2023-12-31 11110322 d:PlantMachinery 2023-01-01 2023-12-31 11110322 d:OfficeEquipment 2023-01-01 2023-12-31 11110322 d:CurrentFinancialInstruments 2023-12-31 11110322 d:CurrentFinancialInstruments 2022-12-31 11110322 d:Non-currentFinancialInstruments 2023-12-31 11110322 d:Non-currentFinancialInstruments 2022-12-31 11110322 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11110322 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11110322 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11110322 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11110322 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 11110322 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 11110322 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 11110322 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 11110322 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 11110322 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 11110322 d:ShareCapital 2023-12-31 11110322 d:ShareCapital 2022-12-31 11110322 d:RetainedEarningsAccumulatedLosses 2023-12-31 11110322 d:RetainedEarningsAccumulatedLosses 2022-12-31 11110322 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 11110322 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 11110322 c:FRS102 2023-01-01 2023-12-31 11110322 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11110322 c:FullAccounts 2023-01-01 2023-12-31 11110322 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11110322 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11110322









BEAUTEOUS THINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
BEAUTEOUS THINGS LIMITED
REGISTERED NUMBER: 11110322

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
4,608
4,958

Debtors: amounts falling due within one year
 4 
-
272

Cash at bank and in hand
 5 
-
337

  
4,608
5,567

Creditors: amounts falling due within one year
 6 
(40,139)
(40,001)

Net current liabilities
  
 
 
(35,531)
 
 
(34,434)

Total assets less current liabilities
  
(35,531)
(34,434)

Creditors: amounts falling due after more than one year
 7 
(8,797)
(9,000)

  

Net liabilities
  
(44,328)
(43,434)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(44,428)
(43,534)

  
(44,328)
(43,434)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 statement of comprehensive income 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 and were signed on its behalf on 18 September 2024.




Page 1

 
BEAUTEOUS THINGS LIMITED
REGISTERED NUMBER: 11110322
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

Mr. R. Sadler
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
BEAUTEOUS THINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The entity is a private company limited by shares. It was incorporated in England & Wales and the company's registered office is located at 6 Northlands Road, Southampton, SO15 2LF. The principle activity of the company is the manufacture and retail of textile-based products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on the going concern basis. The company is reliant on working capital introduced by the director. The director has confirmed he will not seek to claw back that working capital until the company begins to generate profit. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
BEAUTEOUS THINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line basis
Office equipment
-
25%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

Page 4

 
BEAUTEOUS THINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
-
272

-
272

Page 5

 
BEAUTEOUS THINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.Debtors (continued)



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
-
337

-
337



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
1,430
2,250

Trade creditors
390
-

Other creditors
37,929
36,612

Accruals and deferred income
390
1,139

40,139
40,001



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,797
9,000

8,797
9,000


The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2023
2022
£
£


Repayable by instalments
3,077
-

3,077
-

The Bounce Back Loan repayment terms were extended to beyond five years during the year.

Page 6

 
BEAUTEOUS THINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
1,430
2,250


1,430
2,250

Amounts falling due 1-2 years

Bank loans
1,430
2,250


1,430
2,250

Amounts falling due 2-5 years

Bank loans
4,290
6,750


4,290
6,750

Amounts falling due after more than 5 years

Bank loans
3,077
-

3,077
-

10,227
11,250



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
-
337




Financial assets measured at fair value through profit or loss comprise cash at bank.


10.


Controlling party

The company was under the beneficial control of the director during the year. 

 
Page 7