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Double Busy Brands Ltd

Registered Number
11391667
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Double Busy Brands Ltd
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

Kiffle Yohannes Abebe
Ojeuna Mekconenn
Heather Weiss

Registered Address

St Denys House
22 East Hill
St Austell
PL25 4TR

Registered Number

11391667 (England and Wales)
Double Busy Brands Ltd
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets3698,378698,378
698,378698,378
Current assets
Debtors49243,056
Cash at bank and on hand3,9406,977
4,03250,033
Creditors amounts falling due within one year5(4,256)(10,519)
Net current assets (liabilities)(224)39,514
Total assets less current liabilities698,154737,892
Net assets698,154737,892
Capital and reserves
Called up share capital688,822688,822
Profit and loss account9,33249,070
Shareholders' funds698,154737,892
The financial statements were approved and authorised for issue by the Board of Directors on 27 February 2025, and are signed on its behalf by:
Ojeuna Mekconenn
Director
Registered Company No. 11391667
Double Busy Brands Ltd
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets
The investment is in an associated partnership. It is valued at cost. There was income received in the year of £242,616 for consultancy services provided to a subsidiary of the associated partnership.

Other

Total

££
Cost or valuation
At 01 June 23698,378698,378
At 31 May 24698,378698,378
Net book value
At 31 May 24698,378698,378
At 31 May 23698,378698,378
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-42,968
Other debtors9288
Total9243,056
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.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-528
Taxation and social security3678,887
Other creditors1,979-
Accrued liabilities and deferred income1,9101,104
Total4,25610,519
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.
6.Share capital
As at 31 May 2024 the company had nominal share capital of £3,273,600 (2023: £2,661,600) consisting of 24,786 ordinary shares (2023: 18,666) of £100 at par value, and 7,950 preference shares (2023: 7,950) of £100 at par value. On the same date the shareholders of the company had paid up £688,822 of the preference share capital but the ordinary share capital was wholly unpaid. As a result at the end of the year the company had paid up share capital totalling £688,822. The total share capital which has not been paid up by the shareholders is £2,584,778.