Acorah Software Products - Accounts Production 16.0.110 false true 27 February 2023 28 February 2022 false 28 February 2023 27 February 2024 27 February 2024 07518221 Mrs Beth Cowton Ms Lydia Taylor iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07518221 2023-02-27 07518221 2024-02-27 07518221 2023-02-28 2024-02-27 07518221 frs-core:CurrentFinancialInstruments 2024-02-27 07518221 frs-core:Non-currentFinancialInstruments 2024-02-27 07518221 frs-core:FurnitureFittings 2024-02-27 07518221 frs-core:FurnitureFittings 2023-02-28 2024-02-27 07518221 frs-core:FurnitureFittings 2023-02-27 07518221 frs-core:PlantMachinery 2024-02-27 07518221 frs-core:PlantMachinery 2023-02-28 2024-02-27 07518221 frs-core:PlantMachinery 2023-02-27 07518221 frs-core:ShareCapital 2024-02-27 07518221 frs-core:RetainedEarningsAccumulatedLosses 2024-02-27 07518221 frs-bus:PrivateLimitedCompanyLtd 2023-02-28 2024-02-27 07518221 frs-bus:FilletedAccounts 2023-02-28 2024-02-27 07518221 frs-bus:SmallEntities 2023-02-28 2024-02-27 07518221 frs-bus:AuditExempt-NoAccountantsReport 2023-02-28 2024-02-27 07518221 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-28 2024-02-27 07518221 frs-bus:Director1 2023-02-28 2024-02-27 07518221 frs-bus:Director2 2023-02-28 2024-02-27 07518221 frs-core:CurrentFinancialInstruments 1 2024-02-27 07518221 frs-countries:EnglandWales 2023-02-28 2024-02-27 07518221 2022-02-27 07518221 2023-02-27 07518221 2022-02-28 2023-02-27 07518221 frs-core:CurrentFinancialInstruments 2023-02-27 07518221 frs-core:Non-currentFinancialInstruments 2023-02-27 07518221 frs-core:ShareCapital 2023-02-27 07518221 frs-core:RetainedEarningsAccumulatedLosses 2023-02-27 07518221 frs-core:CurrentFinancialInstruments 1 2023-02-27
Registered number: 07518221
Hearts Boutique Ltd
Unaudited Financial Statements
For The Year Ended 27 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07518221
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,693 2,487
2,693 2,487
CURRENT ASSETS
Stocks 5 81,000 89,230
Debtors 6 1,195 14
Cash at bank and in hand (4,484 ) 34,382
77,711 123,626
Creditors: Amounts Falling Due Within One Year 7 (146,890 ) (159,830 )
NET CURRENT ASSETS (LIABILITIES) (69,179 ) (36,204 )
TOTAL ASSETS LESS CURRENT LIABILITIES (66,486 ) (33,717 )
Creditors: Amounts Falling Due After More Than One Year 8 (12,884 ) (20,642 )
NET LIABILITIES (79,370 ) (54,359 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (79,470 ) (54,459 )
SHAREHOLDERS' FUNDS (79,370) (54,359)
Page 1
Page 2
For the year ending 27 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Beth Cowton
Director
26th November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hearts Boutique Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07518221 . The registered office is Wold View, The Market Place, Easingwold, North Yorkshire, YO61 3AB.
Hearts Boutique Ltd changed its name from Hearts Interior Design and Giftware Ltd on 19th March 2019.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 5)
6 5
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 28 February 2023 2,136 9,778 11,914
Additions 637 467 1,104
As at 27 February 2024 2,773 10,245 13,018
Depreciation
As at 28 February 2023 1,524 7,903 9,427
Provided during the period 312 586 898
As at 27 February 2024 1,836 8,489 10,325
...CONTINUED
Page 3
Page 4
Net Book Value
As at 27 February 2024 937 1,756 2,693
As at 28 February 2023 612 1,875 2,487
5. Stocks
2024 2023
£ £
Finished goods 81,000 89,230
6. Debtors
2024 2023
£ £
Due within one year
VAT 978 -
Other taxes and social security 26 -
Net wages 177 -
Directors' loan accounts 14 14
1,195 14
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 23,962 17,089
Bank loans and overdrafts 7,781 8,021
Corporation tax - 10,271
Other taxes and social security - 2,512
VAT - 1,592
Net wages - 4,932
Other creditors (pension) 684 642
Accruals and deferred income 754 586
Directors' loan accounts 113,709 114,185
146,890 159,830
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,884 20,642
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4