Registered number
12610010
State of Bliss Ltd
Unaudited Filleted Accounts
31 May 2024
State of Bliss Ltd
Registered number: 12610010
Balance Sheet
as at 31 May 2024
As Restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 3,993 6,313
Current assets
Stocks 203,223 280,558
Debtors 5 130,592 58,258
Cash at bank and in hand 67,266 27,276
401,081 366,092
Creditors: amounts falling due within one year 6 (165,392) (159,800)
Net current assets 235,689 206,292
Total assets less current liabilities 239,682 212,605
Provisions for liabilities (197) (601)
Net assets 239,485 212,004
Capital and reserves
Called up share capital 100 100
Profit and loss account 239,385 211,904
Shareholders' funds 239,485 212,004
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.
M Bliss
Director
Approved by the board on 21 February 2025
State of Bliss Ltd
Notes to the Accounts
for the year ended 31 May 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).

These financial statements are the first prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS102 was 1 June 2022. The reported financial position and financial performance for the previous period has been restated to reflect deferred taxation on the transition to FRS 102, resulting in a decrease in reported profits after tax and net assets of £602.
Going Concern
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the financial statements.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 33.33% straight line
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023 5,000
At 31 May 2024 5,000
Amortisation
At 1 June 2023 5,000
At 31 May 2024 5,000
Net book value
At 31 May 2024 -
Goodwill has been written off over its estimated economic life of 1 year.
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 June 2023 17,555
Additions 968
At 31 May 2024 18,523
Depreciation
At 1 June 2023 11,242
Charge for the year 3,288
At 31 May 2024 14,530
Net book value
At 31 May 2024 3,993
At 31 May 2023 6,313
5 Debtors 2024 2023
£ £
Trade debtors 99,153 44,170
Other debtors 31,439 14,088
130,592 58,258
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 97,193 67,531
Taxation and social security costs 46,335 56,662
Other creditors 21,864 35,607
165,392 159,800
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M & G Bliss (12,283) 79,393 (48,555) 18,555
(12,283) 79,393 (48,555) 18,555
Included within other debtors is the above loan that was made to the directors' during the year. The loan is unsecured and is repayable on demand. Interest has been charged on this loan at the applicable market rate.
8 Other information
State of Bliss Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Gilmarde House
47 South Bar Street
Banbury
Oxfordshire
OX16 9AB
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