Company registration number 10843133 (England and Wales)
V&S HAPPY BEES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
V&S HAPPY BEES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
V&S HAPPY BEES LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
15,628
712
Current assets
Stocks
80,000
75,000
Cash at bank and in hand
177,615
144,778
257,615
219,778
Creditors: amounts falling due within one year
5
(172,046)
(159,000)
Net current assets
85,569
60,778
Total assets less current liabilities
101,197
61,490
Provisions for liabilities
(4,157)
Net assets
97,040
61,490
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
97,038
61,488
Total equity
97,040
61,490
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 and signed by the director and authorised for issue on 7 October 2024
Vikki Crannage
Director
Company Registration No. 10843133
V&S HAPPY BEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
V&S Happy Bees Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Oak Park Road, Wordsley, Stourbridge, DY8 5YL.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is two years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation 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:
Motor vehicles
25% reducing balance
1.5
Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.6
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
V&S HAPPY BEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
1.8
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:
2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
11,000
Amortisation and impairment
At 1 July 2023 and 30 June 2024
11,000
Carrying amount
At 30 June 2024
At 30 June 2023
V&S HAPPY BEES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023
4,000
Additions
20,125
At 30 June 2024
24,125
Depreciation and impairment
At 1 July 2023
3,288
Depreciation charged in the year
5,209
At 30 June 2024
8,497
Carrying amount
At 30 June 2024
15,628
At 30 June 2023
712
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
43,439
20,978
Other taxation and social security
36,910
51,249
Other creditors
91,697
86,773
172,046
159,000
6
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
9,310
8,060
7
Related party transactions
On 20th March 2018 the entire equity share capital of V&S Happy Bees Limited was acquired by V&S Property Holdings Limited.