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Registered Number: 13140528
England and Wales

 

 

 

THE EXCHANGE (BEAUMARIS) LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors Jacqueline Williams
Jameson Stewart Williams
Archie Stewart Williams
Libby Stewart Williams
Registered Number 13140528
Registered Office 31 Castle Street
Beaumaris
Anglesey
LL58 8AP
Accountants Woods Squared Limited
The Old School
188 Liscard Road
Wallasey
Wirral
CH44 5TN
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 31 January 2024.
Principal activities
The principal activity of the company during the financial year was that of a retail shop for home and giftware products and also that of property rental
Directors
The directors who served the company throughout the year were as follows:
Archie Stewart Williams (from 18/01/2023)
Libby Stewart Williams (from 18/01/2023)
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Archie Stewart Williams
Director

Date approved: 29 October 2024
2
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 915   
915   
Current assets      
Debtors: amounts falling due within one year 4 12,234    1,356 
Cash at bank and in hand 878    206 
13,112    1,562 
Creditors: amount falling due within one year 5 (2,536)   (1,553)
Net current assets 10,576    9 
 
Total assets less current liabilities 11,491    9 
Provisions for liabilities 6 (174)  
Net assets 11,317    9 
 

Capital and reserves
     
Called up share capital 2    2 
Profit and loss account 11,315    7 
Shareholders' funds 11,317    9 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 29 October 2024 and were signed on its behalf by:


-------------------------------
Archie Stewart Williams
Director
3
General Information
The Exchange (Beaumaris) Ltd is a private company, limited by shares, registered in England and Wales, registration number 13140528, registration address 31 Castle Street, Beaumaris, Anglesey, LL58 8AP.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 33% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 February 2023    
Additions 421    899    1,320 
Disposals    
At 31 January 2024 421    899    1,320 
Depreciation
At 01 February 2023    
Charge for year 105    300    405 
On disposals    
At 31 January 2024 105    300    405 
Net book values
Closing balance as at 31 January 2024 316    599    915 
Opening balance as at 01 February 2023    


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 12,234    1,356 
12,234    1,356 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   (1)
Taxation and Social Security 2,536    1,554 
2,536    1,553 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 174   
174   

4