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Registered number: 05367432
Options Bliss Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
TaxAssist Accountants
1 Sundorne Avenue
Shrewsbury
Shropshire
SY1 4JW
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 05367432
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 21,289 18,505
21,289 18,505
CURRENT ASSETS
Stocks 6 1,895 1,895
Debtors 7 199 750
Cash at bank and in hand - 687
2,094 3,332
Creditors: Amounts Falling Due Within One Year 8 (20,419 ) (17,422 )
NET CURRENT ASSETS (LIABILITIES) (18,325 ) (14,090 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,964 4,415
Creditors: Amounts Falling Due After More Than One Year 9 (39,159 ) (27,961 )
NET LIABILITIES (36,195 ) (23,546 )
CAPITAL AND RESERVES
Called up share capital 10 2 2
Income Statement (36,197 ) (23,548 )
SHAREHOLDERS' FUNDS (36,195) (23,546)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 Income Statement.
On behalf of the board
Ms Hilary Seward
Director
27th December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Options Bliss Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05367432 . The registered office is 61 Bramley Lane, Sheffield, South Yorkshire, S13 8TZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of .... years.
2.4. 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 15% Reducing Balance
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 25% Straight Line
2.5. 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: NIL (2023: 1)
- 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 4,033
As at 31 March 2024 4,033
Amortisation
As at 1 April 2023 4,033
As at 31 March 2024 4,033
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2023 59,540 14,198 3,200 1,261 78,199
Additions - 12,039 - - 12,039
As at 31 March 2024 59,540 26,237 3,200 1,261 90,238
Depreciation
As at 1 April 2023 45,533 10,649 2,772 740 59,694
Provided during the period 2,101 6,559 335 260 9,255
As at 31 March 2024 47,634 17,208 3,107 1,000 68,949
Net Book Value
As at 31 March 2024 11,906 9,029 93 261 21,289
As at 1 April 2023 14,007 3,549 428 521 18,505
6. Stocks
2024 2023
£ £
Finished goods 1,895 1,895
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100 -
Rent deposit held - 750
VAT 99 -
199 750
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - (1 )
Bank loans and overdrafts 19,783 15,528
VAT - 871
Credit card 341 97
Accrued expenses 295 927
20,419 17,422
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 39,159 27,961
39,159 27,961
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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