REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE BRIDAL BARN BOUTIQUE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
THE BRIDAL BARN BOUTIQUE LIMITED |
THE BRIDAL BARN BOUTIQUE LIMITED (REGISTERED NUMBER: 10487359) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
THE BRIDAL BARN BOUTIQUE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Britannia Chambers |
26 George Street |
St Helens |
Merseyside |
WA10 1BZ |
THE BRIDAL BARN BOUTIQUE LIMITED (REGISTERED NUMBER: 10487359) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
THE BRIDAL BARN BOUTIQUE LIMITED (REGISTERED NUMBER: 10487359) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
THE BRIDAL BARN BOUTIQUE LIMITED (REGISTERED NUMBER: 10487359) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
The Bridal Barn Boutique Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Since the 31st March 2020 balance sheet date the coronavirus pandemic has had a significant impact upon the UK economy . The director has taken all possible steps throughout the initial lockdown phase and afterwards to protect the company's assets and to ensure it is well placed to continue trading once the pandemic has passed. |
The company, in common with the wedding industry as a whole, has seen a reduction in activity since March 2020 as a direct result of the pandemic conditions. |
The director has agreed that some £20,000 of directors loan account funding provided to the company will not be considered for repayment until at least April 2023. With this step, together with government coronavirus support grant funding,the director considers that the company has sufficient liquid resources to to prepare the 31st March 2022 financial statements on the going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
THE BRIDAL BARN BOUTIQUE LIMITED (REGISTERED NUMBER: 10487359) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | STOCKS |
31.3.24 | 31.3.23 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade debtors |
Tax |
Prepayments |
THE BRIDAL BARN BOUTIQUE LIMITED (REGISTERED NUMBER: 10487359) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Tax |
Directors' current accounts | 8,405 | 10,659 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Directors' loan accounts | 10,000 | 10,000 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The director has indicated that £10,000 of the directors loan account funding will not be considered for repayment by the company until April 2025 at the earliest date (2023: £10,000). |
As a result this funding is treated as a creditor falling due in more than one year in the 31st March 2024 financial statements. |