Registered number
06933316
COOL BRITANNIA RETAIL LIMITED
Filleted Accounts
30 November 2023
COOL BRITANNIA RETAIL LIMITED
Registered number: 06933316
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 35,873 11,456
Tangible assets 4 24,487 32,649
60,360 44,105
Current assets
Debtors 5 2,212,443 1,852,651
Cash at bank and in hand 53,425 76,495
2,265,868 1,929,146
Creditors: amounts falling due within one year 6 (408,653) (755,715)
Net current assets 1,857,215 1,173,431
Total assets less current liabilities 1,917,575 1,217,536
Creditors: amounts falling due after more than one year 7 (539,880) (41,754)
Provisions for liabilities - (60,280)
Net assets 1,377,695 1,115,502
Capital and reserves
Called up share capital 1,321,000 1,321,000
Profit and loss account 56,695 (205,498)
Shareholders' funds 1,377,695 1,115,502
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sarwar Nabizoda
Director
Approved by the board on 27 November 2024
COOL BRITANNIA RETAIL LIMITED
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
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 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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Plant and machinery 25% over reducing balance method
Fixtures, fittings, tools and equipment 25% over reducing balance method
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Stamp Duty:
Cost
At 1 December 2022 11,456
Additions 25,181
At 30 November 2023 36,637
Amortisation
Provided during the year 764
At 30 November 2023 764
Net book value
At 30 November 2023 35,873
At 30 November 2022 11,456
Stamp duty is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 241,413
At 30 November 2023 241,413
Depreciation
At 1 December 2022 208,764
Charge for the year 8,162
At 30 November 2023 216,926
Net book value
At 30 November 2023 24,487
At 30 November 2022 32,649
5 Debtors 2023 2022
£ £
Trade debtors 209,375 627,263
Amounts owed by group undertakings and undertakings in which the company has a participating interest 933,062 930,562
Other debtors 1,070,006 294,826
2,212,443 1,852,651
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 172,325 474,833
Taxation and social security costs 103,673 172,305
Other creditors 132,655 108,577
408,653 755,715
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,318 41,754
Other creditors 503,562 -
539,880 41,754
8 Related party transactions
During the year, the parent company, Lamoda UK Limited owed £933,062 (£930,562 in 2022) to the company.The loan is interest free and repayable on demand.

During the year, Buckingham Retail Limited, which is the company controlled by the related party also owed the company an amount of £159,488.82 (£159,963.82 in 2022). The loan is interest free and repayable on demand.

During the year, Eton Holding Limited, which is the company controlled by the related party also owed the company an amount of £541,440 (£1440 in 2022). The loan is interest free and repayable on demand.

During the year, the company owed the director a sum of £132,655 (director owed £61,785 to the company in 2022). The loan is interest free and repayable on demand.
9 Controlling party
Lamoda UK Limited is the ultimate controlling party of the company by virtue of its shareholdings in the company.
10 Other information
COOL BRITANNIA RETAIL LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
71-75 Shelton Street
London
WC2H 9JQ
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