Sweethearts Of The Rodeo Limited
Unaudited Financial Statements
For the year ended 31 December 2023
Pages for Filing with Registrar
Company Registration No. 11498858 (England and Wales)
Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Company Information
Directors
C Studholme
V Barker
Company number
11498858
Registered office
6th Floor
Charlotte Building
17 Gresse Street
London
United Kingdom
W1T 1QL
Accountants
Moore Kingston Smith LLP
Charlotte Building
17 Gresse Street
London
W1T 1QL
Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Balance Sheet
As at 31 December 2023
Page 1
2023
2022
Notes
£
£
£
£
Intangible assets
2
-
0
-
0
Current assets
Stock
124,270
114,992
Debtors
3
1,055
116
Cash at bank and in hand
34,904
66,043
160,229
181,151
Creditors: amounts falling due within one year
4
(265,270)
(250,246)
Net current liabilities
(105,041)
(69,095)
Capital and reserves
Called up share capital
5
2
2
Profit and loss reserves
(105,043)
(69,097)
Total equity
(105,041)
(69,095)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 24 September 2024 and are signed on its behalf by:
C Studholme
Director
Company Registration No. 11498858
Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Notes to the Financial Statements
For the year ended 31 December 2023
Page 2
1
Accounting policies
Company information

Sweethearts of the Rodeo Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, Charlotte Building, 17 Gresse Street, London, United Kingdom, W1T 1QL.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

During the year, the company made a loss trueof £35,946 (2022: profit £5,707) and at the balance sheet date had net liabilities of £105,041 (2022: £69,095).

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
1
Accounting policies
(Continued)
Page 3

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software
3 years straight line
1.5
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

 

Stock held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 4
2
Intangible fixed assets
Website
£
Cost
At 1 January 2023 and 31 December 2023
6,388
Amortisation and impairment
At 1 January 2023 and 31 December 2023
6,388
Carrying amount
At 31 December 2023
-
0
At 31 December 2022
-
0
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
893
-
Prepayments and accrued income
162
116
1,055
116
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,421
8,017
Taxation and social security
-
0
4,947
Other creditors
253,489
234,082
Accruals and deferred income
3,360
3,200
265,270
250,246
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
Sweethearts of the Rodeo Limited
Sweethearts Of The Rodeo Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2023
Page 5
6
Related party transactions

At the year end there was £47,085 (2022: £47,085) due to Leisurezoo Limited, a related party due to common shareholdings.

 

At the year end the company owed £24,000 (2022: £24,000) to J Studholme, the husband to a director of the company.

 

At the year end the company owed £182,404 (2022: £162,997) to the directors of the company, disclosed within other creditors.

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