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Registration number: 07791425

Bee Waxed Limited

Unaudited Filleted Financial Statements

for the Year Ended 14 January 2024

 

Bee Waxed Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bee Waxed Limited

Company Information

Director

Ms Daniele Perseguine Soares Godoy

Registered office

65 Drummond House
11 Victory Parade
London
SE18 6FW

Accountants

Loyal Accountancy Ltd
Suite 2.04
Oxford House
49 Oxford Road
London
N4 3EY

 

Bee Waxed Limited

(Registration number: 07791425)
Balance Sheet as at 14 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,024

1,204

Current assets

 

Debtors

5

14,532

15,542

Cash at bank and in hand

 

1,882

3,565

 

16,414

19,107

Creditors: Amounts falling due within one year

6

(21,852)

(15,973)

Net current (liabilities)/assets

 

(5,438)

3,134

Total assets less current liabilities

 

(4,414)

4,338

Creditors: Amounts falling due after more than one year

6

(11,621)

(15,050)

Net liabilities

 

(16,035)

(10,712)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(16,036)

(10,713)

Shareholders' deficit

 

(16,035)

(10,712)

 

Bee Waxed Limited

(Registration number: 07791425)
Balance Sheet as at 14 January 2024

For the financial year ending 14 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 7 October 2024
 

.........................................
Ms Daniele Perseguine Soares Godoy
Director

 

Bee Waxed Limited

Notes to the Unaudited Financial Statements for the Year Ended 14 January 2024

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Bee Waxed Limited

Notes to the Unaudited Financial Statements for the Year Ended 14 January 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, tools and equipment

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Bee Waxed Limited

Notes to the Unaudited Financial Statements for the Year Ended 14 January 2024

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 and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Bee Waxed Limited

Notes to the Unaudited Financial Statements for the Year Ended 14 January 2024

3

Loss/profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

180

213

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 15 January 2023

4,469

4,469

At 14 January 2024

4,469

4,469

Depreciation

At 15 January 2023

3,265

3,265

Charge for the year

180

180

At 14 January 2024

3,445

3,445

Carrying amount

At 14 January 2024

1,024

1,024

At 14 January 2023

1,204

1,204

5

Debtors

2024
£

2023
£

Trade debtors

5,890

6,900

Prepayments

8,642

8,642

14,532

15,542

 

Bee Waxed Limited

Notes to the Unaudited Financial Statements for the Year Ended 14 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

82

-

Other creditors

21,770

15,973

21,852

15,973

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

11,621

15,050

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

Bee Waxed Limited

Notes to the Unaudited Financial Statements for the Year Ended 14 January 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,621

15,050