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Registration number: 12027846

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Unaudited Filleted Financial Statements

for the Period from 1 July 2023 to 31 December 2023

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Company Information

Director

Hollie Hayden King

Registered office

Unit 1
Station Approach
Frome
BA11 1RE

Accountants

Balance Accounts Limited
Chartered Certified Accountants
4 Beau Street
Bath
BA1 1QY

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

(Registration number: 12027846)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

30 June
2023
£

Fixed assets

 

Tangible assets

4

7,923

10,829

Current assets

 

Stocks

5

129,670

16,473

Debtors

6

330,323

227,274

Cash at bank and in hand

 

193,253

41,483

 

653,246

285,230

Creditors: Amounts falling due within one year

7

(736,240)

(422,094)

Net current liabilities

 

(82,994)

(136,864)

Total assets less current liabilities

 

(75,071)

(126,035)

Creditors: Amounts falling due after more than one year

7

(15,058)

(19,902)

Net liabilities

 

(90,129)

(145,937)

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

(90,130)

(145,938)

Shareholders' deficit

 

(90,129)

(145,937)

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

(Registration number: 12027846)
Balance Sheet as at 31 December 2023

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 December 2024
 

.........................................
Hollie Hayden King
Director

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 1
Station Approach
Frome
BA11 1RE
England

These financial statements were authorised for issue by the director on 31 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the year end the company had negative liabilities of £90,129 (30 June 2023 - £145,937) and it was therefore necessary to consider the appropriateness of preparing the accounts on the going concern basis.

There was a profit in the 6 month period to 31 December 2023 and this has continued into 2024. The reserves will be positive by the end of the next financial year.

It is therefore considered appropriate to prepare these accounts on the going concern basis.

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Tools and equipment

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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 inventories 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 11 (2023 - 8).

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

14,679

16,891

31,570

At 31 December 2023

14,679

16,891

31,570

Depreciation

At 1 July 2023

11,179

9,562

20,741

Charge for the period

1,217

1,689

2,906

At 31 December 2023

12,396

11,251

23,647

Carrying amount

At 31 December 2023

2,283

5,640

7,923

At 30 June 2023

3,500

7,329

10,829

5

Stocks

31 December
2023
£

30 June
2023
£

Other inventories

129,670

16,473

6

Debtors

Current

31 December
2023
£

30 June
2023
£

Trade debtors

70,396

29,891

Prepayments

10,671

7,976

Other debtors

249,256

189,407

 

330,323

227,274

 

Sweet Bee Organics Ltd

trading as Sweet Bee Organics

Notes to the Unaudited Financial Statements for the Period from 1 July 2023 to 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

31 December
2023
£

30 June
2023
£

Due within one year

 

Loans and borrowings

33,888

54,735

Trade creditors

 

84,057

170,699

Amounts due to related parties

12,772

-

Social security and other taxes

 

234,786

133,575

Outstanding defined contribution pension costs

 

896

575

Other payables

 

208,345

26,140

Accruals

 

157,467

32,341

Income tax liability

4,029

4,029

 

736,240

422,094

Due after one year

 

Loans and borrowings

15,058

19,902

8

Share capital

Allotted, called up and fully paid shares

31 December
2023

30 June
2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1