Bon Soiree Ltd
Registered number: 04399957
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 4,164
Tangible assets 4 101,161 63,488
101,161 67,652
Current assets
Stocks 62,780 64,980
Debtors 5 369,331 263,691
Cash at bank and in hand 518,902 117,219
951,013 445,890
Creditors: amounts falling due within one year 6 (299,362) (193,897)
Net current assets 651,651 251,993
Total assets less current liabilities 752,812 319,645
Creditors: amounts falling due after more than one year 7 (14,637) (30,559)
Net assets 738,175 289,086
Capital and reserves
Called up share capital 1 1
Profit and loss account 738,174 289,085
Shareholder's funds 738,175 289,086
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.
D Freeman
Director
Approved by the board on 22 August 2024
Bon Soiree Ltd
Notes to the Accounts
for the year ended 31 March 2024
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 when the service is provided.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Intangible assets are amortised, on a straight line basis, over their useful economic life of 3 years.
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 33% reducing balance
Motor Vehicles 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 34 31
3 Intangible fixed assets Goodwill Intangible Total
asset
£ £ £
Cost
At 1 April 2023 30,000 62,848 92,848
At 31 March 2024 30,000 62,848 92,848
Amortisation
At 1 April 2023 30,000 58,684 88,684
Provided during the year 4,164 4,164
At 31 March 2024 30,000 62,848 92,848
Net book value
At 31 March 2024 - - -
At 31 March 2023 - 4,164 4,164
Intangible assets are being written off in equal annual instalments over their estimated economic life of 3 years.
4 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 April 2023 267,136 106,636 373,772
Additions 11,929 51,216 63,145
At 31 March 2024 279,065 157,852 436,917
Depreciation
At 1 April 2023 221,734 88,550 310,284
Charge for the year 17,921 7,551 25,472
At 31 March 2024 239,655 96,101 335,756
Net book value
At 31 March 2024 39,410 61,751 101,161
At 31 March 2023 45,402 18,086 63,488
5 Debtors 2024 2023
£ £
Trade debtors 328,136 238,807
Other debtors 41,195 24,884
369,331 263,691
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,238 9,988
Obligations under finance lease and hire purchase contracts 5,685 5,685
Trade creditors 56,495 66,352
Taxation and social security costs 170,100 60,634
Other creditors 56,844 51,238
299,362 193,897
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,268 22,506
Obligations under finance lease and hire purchase contracts 2,369 8,053
14,637 30,559
8 Loans 2024 2023
£ £
Secured bank loans 22,506 32,494
The company was granted a loan under the Coronavirus Business Interruption Loan Scheme. The loan is guaranteed by the Department for Business, Energy and Industrial Strategy. No capital or interest was payable in the first 12 months of the loan. The loan is now repayable in instalments and interest is charged at a rate of 2.5% over the remaining term of the loan.
9 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 7,500 56,000
10 Controlling party
Bon Soiree Ltd is controlled by D Freeman, who is the 100% shareholder of the company.
11 Other information
Bon Soiree Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Courtyard
116c High Street
Northchurch
Berkhamsted, Hertfordshire
HP4 3QN
Bon Soiree Ltd 04399957 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 D Freeman No description of principal activity 04399957 2022-04-01 2023-03-31 04399957 core:WithinOneYear 2023-03-31 04399957 core:AfterOneYear 2023-03-31 04399957 core:ShareCapital 2023-03-31 04399957 core:RetainedEarningsAccumulatedLosses 2023-03-31 04399957 core:AllPeriods 2023-03-31 04399957 2023-04-01 2024-03-31 04399957 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04399957 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04399957 bus:Director40 2023-04-01 2024-03-31 04399957 1 2023-04-01 2024-03-31 04399957 2 2023-04-01 2024-03-31 04399957 core:Goodwill 2023-04-01 2024-03-31 04399957 core:PlantMachinery 2023-04-01 2024-03-31 04399957 core:Vehicles 2023-04-01 2024-03-31 04399957 countries:England 2023-04-01 2024-03-31 04399957 bus:FRS102 2023-04-01 2024-03-31 04399957 bus:FilletedAccounts 2023-04-01 2024-03-31 04399957 2024-03-31 04399957 core:WithinOneYear 2024-03-31 04399957 core:AfterOneYear 2024-03-31 04399957 core:ShareCapital 2024-03-31 04399957 core:RetainedEarningsAccumulatedLosses 2024-03-31 04399957 core:Goodwill 2024-03-31 04399957 core:PlantMachinery 2024-03-31 04399957 core:Vehicles 2024-03-31 04399957 core:AllPeriods 2024-03-31 04399957 2023-03-31 04399957 core:Goodwill 2023-03-31 04399957 core:PlantMachinery 2023-03-31 04399957 core:Vehicles 2023-03-31 iso4217:GBP xbrli:pure