Registered number
11662446
Women's Best UK Ltd.
Filleted Accounts
31 December 2023
Women's Best UK Ltd.
Registered number: 11662446
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 15,769 21,026
Tangible assets 4 898 1,197
16,667 22,223
Current assets
Debtors 5 352,962 331,190
Cash at bank and in hand 24,666 39,367
377,628 370,557
Creditors: amounts falling due within one year 6 (635,208) (201,722)
Net current (liabilities)/assets (257,580) 168,835
Total assets less current liabilities (240,913) 191,058
Creditors: amounts falling due after more than one year 7 (1,299,274) -
Net (liabilities)/assets (1,540,187) 191,058
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,540,287) 190,958
Shareholders' funds (1,540,187) 191,058
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.
D Kurzmann
Director
Approved by the board on 16 January 2025
Women's Best UK Ltd.
Notes to the Accounts
for the year ended 31 December 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:
Plant and machinery over 5 years
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.
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 19 6
3 Intangible fixed assets £
Cost
At 1 January 2023 26,283
At 31 December 2023 26,283
Amortisation
At 1 January 2023 5,257
Provided during the year 5,257
At 31 December 2023 10,514
Net book value
At 31 December 2023 15,769
At 31 December 2022 21,026
Intangible assets are being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 1,496
At 31 December 2023 1,496
Depreciation
At 1 January 2023 299
Charge for the year 299
At 31 December 2023 598
Net book value
At 31 December 2023 898
At 31 December 2022 1,197
5 Debtors 2023 2022
£ £
Due from intercompanies - 179,845
Due from group undertakings 100 -
Other taxes and social security 333,379 140,751
Prepayments 18,507 8,200
Other debtors 976 2,394
352,962 331,190
6 Creditors: amounts falling due within one year 2023 2022
£ £
Deferred income 3,430 -
Trade creditors 183,061 173,735
Other taxes and social security - 24,923
Due to intercompanies 433,712 376
Accruals 15,005 2,688
635,208 201,722
7 Creditors: amounts falling due after one year 2023 2022
£ £
Due to intercompanies 1,299,274 -
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 341,020 426,275
9 Related party transactions
The company owed money to a company under common control, Women's Best Group GmbH, for goods sold to them in the year. These invoices had preferential payment terms compared to third party customers and had no fixed payment dates. No interest has been charged on the balance owed, which stood at £1,732,986 at the year end.
10 Other information
Women's Best UK Ltd. is a private company limited by shares and incorporated in England. Its registered office is:
No 1 Royal Exchange
London
EC3V 3DG
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