Company Registration No. 10690733 (England and Wales)
GINGER BEES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
GINGER BEES LIMITED
COMPANY INFORMATION
Directors
Miss B Denton
Mr G Wong
Company number
10690733
Registered office
2 First Avenue
West Molesey
Surrey
KT7 2QJ
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
GINGER BEES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GINGER BEES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,138
22,256
Current assets
Stocks
1,200
1,200
Debtors
4
7,078
3,215
Cash at bank and in hand
125,945
122,973
134,223
127,388
Creditors: amounts falling due within one year
5
(20,933)
(20,735)
Net current assets
113,290
106,653
Total assets less current liabilities
140,428
128,909
Creditors: amounts falling due after more than one year
6
(4,996)
(9,073)
Provisions for liabilities
(5,156)
(4,229)
Net assets
130,276
115,607
Capital and reserves
Called up share capital
7
2
2
Profit and loss reserves
130,274
115,605
Total equity
130,276
115,607
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 March 2024 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 Act 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.
GINGER BEES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
Miss B Denton
Director
Company Registration No. 10690733
GINGER BEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Ginger Bees Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Turnover
Turnover represents the total invoice value excluding value added tax, of sales made during the year.
Revenue from the provisions of goods and services are recognised at point of completion of transaction.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% reducing balance
Computers
3 years straight line
Motor vehicles
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.5
Cash and cash equivalents
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.
1.6
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
GINGER BEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 4 (2023 - 5).
3
Tangible fixed assets
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
8,789
3,031
24,950
36,770
Additions
9,640
1,666
11,306
At 31 March 2024
18,429
4,697
24,950
48,076
Depreciation and impairment
At 1 April 2023
3,323
2,209
8,982
14,514
Depreciation charged in the year
2,266
964
3,194
6,424
At 31 March 2024
5,589
3,173
12,176
20,938
Carrying amount
At 31 March 2024
12,840
1,524
12,774
27,138
At 31 March 2023
5,466
822
15,968
22,256
GINGER BEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
3,911
114
Prepayments and accrued income
3,167
3,101
7,078
3,215
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,980
3,882
Trade creditors
214
620
Corporation tax
6,026
6,098
Other taxation and social security
4,111
3,489
Other creditors
6,602
6,646
20,933
20,735
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,996
9,073
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £2 each
2
2