Registered number
07955090
BodyBoard HQ Ltd
Filleted Accounts
29 February 2024
BodyBoard HQ Ltd
Registered number: 07955090
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 336,310 173,837
Current assets
Stocks 102,430 103,398
Debtors 4 234 8,710
Cash at bank and in hand 131,412 287,271
234,076 399,379
Creditors: amounts falling due within one year 5 (42,228) (75,839)
Net current assets 191,848 323,540
Net assets 528,158 497,377
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 527,158 496,377
Shareholder's funds 528,158 497,377
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr David Richard Heard
Director
Approved by the board on 28 November 2024
BodyBoard HQ Ltd
Notes to the Accounts
for the year ended 29 February 2024
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.
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:
Freehold buildings over 50 years
Shop Fittings and equipment 25% reducing balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 189,330 29,259 218,589
Additions 171,031 2,179 173,210
Disposals - (1,090) (1,090)
At 29 February 2024 360,361 30,348 390,709
Depreciation
At 1 March 2023 26,507 18,245 44,752
Charge for the year 7,207 3,106 10,313
On disposals - (666) (666)
At 29 February 2024 33,714 20,685 54,399
Net book value
At 29 February 2024 326,647 9,663 336,310
At 28 February 2023 162,823 11,014 173,837
4 Debtors 2024 2023
£ £
Other debtors 234 8,710
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 11,564 24,225
Taxation and social security costs 19,441 49,687
Other creditors 11,223 1,927
42,228 75,839
6 Related party transactions
Included in creditors is an amount of £9,568 owed to the Director, Mr David Heard by Bodyboard
HQ Limited, as at the financial year end.
7 Controlling party
The company is under the control of the Director, Mr David Heard who owns 100% of the share
capital.
6 Other information
BodyBoard HQ Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Felbahar
Chapel Terrace, Penberthy Road
Portreath
Cornwall
TR16 4LR
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