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Registered number: 11283851










A BETTER FEELING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
A BETTER FEELING LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF A BETTER FEELING LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A Better Feeling Limited for the year ended 31 March 2024 which comprise  the balance sheet, the statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of A Better Feeling Limited, as a body, in accordance with the terms of our engagement letter dated 12th August 2021Our work has been undertaken solely to prepare for your approval the financial statements of A Better Feeling Limited and state those matters that we have agreed to state to the Board of directors of A Better Feeling Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A Better Feeling Limited and its board of directors, as a body, for our work or for this report. 

It is your duty to ensure that A Better Feeling Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of A Better Feeling Limited. You consider that A Better Feeling Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of A Better Feeling Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  

BAGINSKY COHEN
CHARTERED ACCOUNTANTS
930 HIGH ROAD
LONDON
N12 9RT
22 November 2024
Page 1

 
A BETTER FEELING LIMITED
REGISTERED NUMBER: 11283851

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

FIXED ASSETS
  

Tangible assets
 4 
3,584
416

CURRENT ASSETS
  

Stocks
 5 
112,469
112,141

Debtors
 6 
47,426
18,139

Cash at bank and in hand
 7 
7,431
85,411

  
167,326
215,691

Creditors: amounts falling due within one year
 8 
(9,880)
(16,341)

Creditors: amounts falling due after more than one year
 9 
(756,471)
(597,321)

  

NET LIABILITIES
  
(595,441)
(397,555)


CAPITAL AND RESERVES
  

Called up share capital 
 10 
390
390

Share premium account
 11 
747,552
747,552

Profit and loss account
 11 
(1,343,383)
(1,145,497)

  
(595,441)
(397,555)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 November 2024.


A. SEWEDY
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
A BETTER FEELING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 APRIL 2022
390
747,552
(743,198)
4,744


COMPREHENSIVE INCOME FOR THE YEAR

Loss for the year
-
-
(402,299)
(402,299)



At 1 APRIL 2023
390
747,552
(1,145,497)
(397,555)



Loss for the year
-
-
(197,886)
(197,886)


At 31 MARCH 2024
390
747,552
(1,343,383)
(595,441)


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
A BETTER FEELING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.ACCOUNTING POLICIES

 
1.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
1.2

GOING CONCERN

The directors have a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for the foreseeable future.  Accordingly, financial statements have been prepared using the going concern basis of accounting. 

 
1.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
A BETTER FEELING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.4

REVENUE

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.5

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
1.6

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.7

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 5

 
A BETTER FEELING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.ACCOUNTING POLICIES (CONTINUED)

 
1.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.9

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.10

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


2.



JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, which are described in note 1, management is
required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.


3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 3 (2023 - 4).

Page 6

 
A BETTER FEELING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


TANGIBLE FIXED ASSETS





Computer equipment

£



COST OR VALUATION


At 1 April 2023
833


Additions
4,361



At 31 March 2024

5,194



DEPRECIATION


At 1 April 2023
416


Charge for the year on owned assets
1,194



At 31 March 2024

1,610



NET BOOK VALUE



At 31 March 2024
3,584



At 31 March 2023
416


5.


STOCKS

2024
2023
£
£

Finished goods and goods for resale
112,469
112,141



6.


DEBTORS

2024
2023
£
£



Trade debtors
42,308
4,460

Other debtors
5,118
13,679

47,426
18,139


Page 7

 
A BETTER FEELING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


CASH AND CASH EQUIVALENTS

2024
2023
£
£

Cash at bank and in hand
7,431
85,411

Less: bank overdrafts
(178)
(900)

7,253
84,511



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
178
900

Other taxation and social security
353
1,433

Other creditors
6,349
11,008

Accruals and deferred income
3,000
3,000

9,880
16,341



9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Other creditors
756,471
597,321


Page 8

 
A BETTER FEELING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



390 (2023 - 390) Ordinary  shares of £1 each
390
390



11.


RESERVES

Share premium account

The share premium account contains the premium arising on issue of equity shares, net of issue expenses.

Profit and loss account

This includes all current and prior period retained profit and losses.


Page 9