2024-01-012024-12-312024-12-31false10507894THE BODY WORKS (SW) 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THE BODY WORKS (SW) LTD

Registered Number
10507894
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

THE BODY WORKS (SW) LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Director

Tracey Cullen

Registered Address

Walker House
Market Place
Somerton
TA11 7LX

Registered Number

10507894 (England and Wales)
THE BODY WORKS (SW) LTD
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4326435
326435
Current assets
Stocks5466590
Debtors3,230100
Cash at bank and on hand25,78649,210
29,48249,900
Creditors amounts falling due within one year6(37,295)(58,276)
Net current assets (liabilities)(7,813)(8,376)
Total assets less current liabilities(7,487)(7,941)
Net assets(7,487)(7,941)
Capital and reserves
Called up share capital100100
Profit and loss account(7,587)(8,041)
Shareholders' funds(7,487)(7,941)
The financial statements were approved and authorised for issue by the Director on 6 March 2025, and are signed on its behalf by:
Tracey Cullen
Director
Registered Company No. 10507894
THE BODY WORKS (SW) LTD
Notes to the Financial Statements
for the year ended 31 December 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.
Revenue from 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. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
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
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings25-
Office Equipment-33
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 January 2417,92517,925
At 31 December 2417,92517,925
Amortisation and impairment
At 01 January 2417,92517,925
At 31 December 2417,92517,925
Net book value
At 31 December 24--
At 31 December 23--
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 January 241,9077692,676
At 31 December 241,9077692,676
Depreciation and impairment
At 01 January 241,4727692,241
Charge for year109-109
At 31 December 241,5817692,350
Net book value
At 31 December 24326-326
At 31 December 23435-435
5.Stocks

2024

2023

££
Other stocks466590
Total466590
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables700700
Amounts owed to related parties35,08056,156
Accrued liabilities and deferred income1,5151,420
Total37,29558,276
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.