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Company No: 04279652 (England and Wales)

CLAUDIA BRADBY LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

CLAUDIA BRADBY LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

CLAUDIA BRADBY LIMITED

BALANCE SHEET

As at 31 May 2024
CLAUDIA BRADBY LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 14,732 18,900
Tangible assets 4 923 1,563
15,655 20,463
Current assets
Stocks 132,421 125,425
Debtors 5 31,619 46,873
Cash at bank and in hand 6,405 51,955
170,445 224,253
Creditors: amounts falling due within one year 6 ( 48,175) ( 56,749)
Net current assets 122,270 167,504
Total assets less current liabilities 137,925 187,967
Creditors: amounts falling due after more than one year 7 ( 10,376) ( 20,571)
Provision for liabilities ( 211) ( 348)
Net assets 127,338 167,048
Capital and reserves
Called-up share capital 2 2
Profit and loss account 127,336 167,046
Total shareholder's funds 127,338 167,048

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Claudia Bradby Limited (registered number: 04279652) were approved and authorised for issue by the Director on 22 January 2025. They were signed on its behalf by:

C G J Bradby
Director
CLAUDIA BRADBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
CLAUDIA BRADBY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Claudia Bradby Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The principal place of business is 2 Clarendon Terrace, High Street, Stockbridge, Hampshire, SO20 6EY.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover represents the value of goods sold during the year, net of Value Added Tax and trade discounts. Turnover is recognised when goods are physically delivered to the customer.

Uninvoiced deliveries at the year end are included in accrued income. Invoiced deliveries are included in debtors. Where customers pay in advance for goods, the amount is recorded as deferred income until the goods have been delivered.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Intangible assets

Website costs Total
£ £
Cost
At 01 June 2023 56,120 56,120
Additions 840 840
At 31 May 2024 56,960 56,960
Accumulated amortisation
At 01 June 2023 37,220 37,220
Charge for the financial year 5,008 5,008
At 31 May 2024 42,228 42,228
Net book value
At 31 May 2024 14,732 14,732
At 31 May 2023 18,900 18,900

4. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 June 2023 33,852 33,852
At 31 May 2024 33,852 33,852
Accumulated depreciation
At 01 June 2023 32,289 32,289
Charge for the financial year 640 640
At 31 May 2024 32,929 32,929
Net book value
At 31 May 2024 923 923
At 31 May 2023 1,563 1,563

5. Debtors

2024 2023
£ £
Trade debtors 21,009 43,617
Prepayments 2,566 3,256
Corporation tax 8,044 0
31,619 46,873

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank overdrafts 4,043 0
Trade creditors 16,759 17,870
Other loans 10,250 9,999
Accruals 3,184 7,360
Taxation and social security 13,724 21,350
Other creditors 215 170
48,175 56,749

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 10,376 20,571

The loans due by the company at the financial year end are not secured.