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COMPANY REGISTRATION NUMBER: 12293357
The Retreat Lifestyle Limited
Filleted Unaudited Financial Statements
31 December 2023
The Retreat Lifestyle Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
The Retreat Lifestyle Limited
Balance Sheet
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
4
957
Current assets
Stocks
3,500
4,000
Debtors
5
87,407
80,282
Cash at bank and in hand
1,698
973
--------
--------
92,605
85,255
Creditors: amounts falling due within one year
6
( 40,813)
( 27,882)
--------
--------
Net current assets
51,792
57,373
--------
--------
Total assets less current liabilities
52,749
57,373
Creditors: amounts falling due after more than one year
7
( 38,026)
( 50,102)
Provisions
Taxation including deferred tax
( 239)
--------
--------
Net assets
14,484
7,271
--------
--------
The Retreat Lifestyle Limited
Balance Sheet (continued)
31 December 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
14,384
7,171
--------
-------
Shareholders funds
14,484
7,271
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 September 2024 , and are signed on behalf of the board by:
Mr M Otley
Director
Company registration number: 12293357
The Retreat Lifestyle Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Coach House, Park View Terrace, Worcester, WR3 7AG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Plant and machinery
£
Cost
At 1 January 2023
Additions
999
----
At 31 December 2023
999
----
Depreciation
At 1 January 2023
Charge for the year
42
----
At 31 December 2023
42
----
Carrying amount
At 31 December 2023
957
----
At 31 December 2022
----
5. Debtors
2023
2022
£
£
Other debtors
87,407
80,282
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,940
Trade creditors
3,780
2,880
Corporation tax
26,293
23,202
Other creditors
1,800
1,800
--------
--------
40,813
27,882
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
38,026
50,102
--------
--------
8. Directors' advances, credits and guarantees
During the year, the directors had interest-free, repayable on demand loans with the company. At the start of the year the directors owed the company £33,915, and at the end of the year the directors owed £33,915.
9. Related party transactions
During the year, the the company had an interest-free, repayable on demand loan with a related party. At the start of the year the company was owed £35,345 by the related party and at the end of the year was owed £42,470. During the year the company raised sales to the value of £25,548 (2023: £29,015) to this related party.