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Registered number: 07185848
Classique Bedrooms Ltd.
Unaudited Financial Statements
For The Year Ended 31 March 2024
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07185848
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 72,591 88,217
72,591 88,217
CURRENT ASSETS
Stocks 6 7,000 5,100
Debtors 7 14,098 26,737
Cash at bank and in hand 105,115 220,330
126,213 252,167
Creditors: Amounts Falling Due Within One Year 8 (168,721 ) (179,287 )
NET CURRENT ASSETS (LIABILITIES) (42,508 ) 72,880
TOTAL ASSETS LESS CURRENT LIABILITIES 30,083 161,097
Creditors: Amounts Falling Due After More Than One Year 9 (11,667 ) (21,667 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (18,198 ) (21,699 )
NET ASSETS 218 117,731
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 18 117,531
SHAREHOLDERS' FUNDS 218 117,731
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
J I Clark
Director
16 August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Classique Bedrooms Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 07185848 . The registered office is 30 Ladder Hill, Wheatley, Oxford, Oxfordshire, OX33 1SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 20% on cost
Plant & Machinery 10% and 25% on cost
Motor Vehicles 15% on cost
Computer Equipment 25% on cost
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twleve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 42,750
As at 31 March 2024 42,750
Amortisation
As at 1 April 2023 42,750
As at 31 March 2024 42,750
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
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5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 32,917 214,867 61,126 9,387 318,297
Additions 1,429 11,569 - - 12,998
As at 31 March 2024 34,346 226,436 61,126 9,387 331,295
Depreciation
As at 1 April 2023 13,428 152,309 55,403 8,940 230,080
Provided during the period 6,511 18,407 3,434 272 28,624
As at 31 March 2024 19,939 170,716 58,837 9,212 258,704
Net Book Value
As at 31 March 2024 14,407 55,720 2,289 175 72,591
As at 1 April 2023 19,489 62,558 5,723 447 88,217
6. Stocks
2024 2023
£ £
Stock 7,000 5,100
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 12,110 25,656
Other debtors 1,988 1,081
14,098 26,737
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,541 17,234
Bank loans and overdrafts 10,000 10,000
Other creditors 82,279 60,527
Taxation and social security 52,901 91,526
168,721 179,287
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,667 21,667
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year - 9,003
- 9,003
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