4 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 14,400 14,400 4,800 4,800 9,600 5,367 5,367 805 805 4,562 xbrli:pure xbrli:shares iso4217:GBP 12855707 2022-10-01 2023-09-30 12855707 2023-09-30 12855707 2022-09-30 12855707 2021-10-01 2022-09-30 12855707 2022-09-30 12855707 2021-09-30 12855707 core:NetGoodwill 2022-10-01 2023-09-30 12855707 core:PlantMachinery 2022-10-01 2023-09-30 12855707 bus:Director1 2022-10-01 2023-09-30 12855707 core:NetGoodwill 2023-09-30 12855707 core:PlantMachinery 2023-09-30 12855707 core:WithinOneYear 2023-09-30 12855707 core:ShareCapital 2023-09-30 12855707 core:ShareCapital 2022-09-30 12855707 core:RetainedEarningsAccumulatedLosses 2023-09-30 12855707 bus:SmallEntities 2022-10-01 2023-09-30 12855707 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 12855707 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 12855707 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 12855707 bus:FullAccounts 2022-10-01 2023-09-30 12855707 core:KeyManagementPersonnel 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 12855707
Barks and Bubbles Ltd
Filleted Unaudited Financial Statements
30 September 2023
Barks and Bubbles Ltd
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
9,600
Tangible assets
6
4,562
--------
----
14,162
Current assets
Stocks
275
Cash at bank and in hand
63
42
----
----
338
42
Creditors: amounts falling due within one year
7
20,269
--------
----
Net current (liabilities)/assets
( 19,931)
42
--------
----
Total assets less current liabilities
( 5,769)
42
-------
----
Net (liabilities)/assets
( 5,769)
42
-------
----
Capital and reserves
Called up share capital
42
42
Profit and loss account
( 5,811)
-------
----
Shareholders (deficit)/funds
( 5,769)
42
-------
----
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 statement of income and retained earnings has not been delivered.
For the year ending 30 September 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Barks and Bubbles Ltd
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 14 October 2024 , and are signed on behalf of the board by:
Miss C Trigg
Director
Company registration number: 12855707
Barks and Bubbles Ltd
Notes to the Financial Statements
Year ended 30 September 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 Unit 2 Bambers Retail Park, Lynn Road, Wisbech, Cambs, PE14 7DA.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At 30 September 2023 the liabilities of the company exceeded its assets by £5,769 and is therefore reliant upon the support of the director whose director's loan account totalled £17,791 at 30 September 2023. The director has agreed not to withdraw this balance until such a time as she company can afford it, therefore the going concern basis has been adopted.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: Nil).
5. Intangible assets
Goodwill
£
Cost
Additions
Disposals of previously acquired businesses
14,400
--------
At 30 September 2023
14,400
--------
Amortisation
Charge for the year
4,800
--------
At 30 September 2023
4,800
--------
Carrying amount
At 30 September 2023
9,600
--------
At 30 September 2022
--------
6. Tangible assets
Plant and machinery
£
Cost
At 1 October 2022
Additions
5,367
-------
At 30 September 2023
5,367
-------
Depreciation
At 1 October 2022
Charge for the year
805
-------
At 30 September 2023
805
-------
Carrying amount
At 30 September 2023
4,562
-------
At 30 September 2022
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
84
Social security and other taxes
1,074
Other creditors
19,111
--------
----
20,269
--------
----
8. Related party transactions
The director, previously traded as a non corporate entity and transferred plant and machinery valued at £5,367 to the company, together with goodwill valued at £14,400. Additionally, stock with a value of £495 was transferred to the company. No other transactions were undertaken with related parties such as are required to be disclosed under FRS 102 section 1A.