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REGISTERED NUMBER: 07096192















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 JUNE 2024

FOR

BEAUTIFUL HOMES (TEAN) LIMITED

BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 2 to 6


BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

STATEMENT OF FINANCIAL POSITION
29 JUNE 2024

29.6.24 29.6.23
Notes £    £   
CURRENT ASSETS
Debtors 6 39,066 17,891
Cash at bank and in hand 14,636 11,742
53,702 29,633
CREDITORS
Amounts falling due within one year 7 (97,094 ) (40,561 )
NET CURRENT LIABILITIES (43,392 ) (10,928 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(43,392

)

(10,928

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (43,492 ) (11,028 )
(43,392 ) (10,928 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 February 2025 and were signed on its behalf by:





S Simpson - Director


BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024


1. STATUTORY INFORMATION

Beautiful Homes (Tean) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07096192 and the registered office is Units A & B West House, Stafford, ST18 0JE.

The principal activity of the company is the sales of kitchen and bedroom furniture.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
In determining and applying accounting policies, judgement is often required in respect of items where the choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported results or net asset position of the company; it may later be determined that a different choice would have been more appropriate. Management considers that certain accounting estimates and assumptions relating to revenue, taxation, tangible fixed assets, provisions and contingent liabilities, accruals and impairment are its critical accounting estimates.

Functional currency
The financial statements are prepared in sterling which is the functional currency of the company.

REVENUE RECOGNITION
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business is now fully amortised.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS
Vehicles, plant and machinery and fixtures are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on assets is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Plant and Machinery - 33% on reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss, and included in other operating income.

BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


2. ACCOUNTING POLICIES - continued
DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

IMPAIRMENT OF NON-FINANCIAL ASSETS
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Inventories are also assessed for impairment at each reporting date. The carrying amount of each item of inventory, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of inventory or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 June 2023
and 29 June 2024 20,925
AMORTISATION
At 30 June 2023
and 29 June 2024 20,925
NET BOOK VALUE
At 29 June 2024 -
At 29 June 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 30 June 2023
and 29 June 2024 36,477
DEPRECIATION
At 30 June 2023
and 29 June 2024 36,477
NET BOOK VALUE
At 29 June 2024 -
At 29 June 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.24 29.6.23
£    £   
Trade debtors 29,463 13,473
Tax 9,256 4,418
VAT 257 -
Prepayments and accrued income 90 -
39,066 17,891

BEAUTIFUL HOMES (TEAN) LIMITED (REGISTERED NUMBER: 07096192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.6.24 29.6.23
£    £   
Trade creditors 1,339 120
Amounts owed to group undertakings 61,977 37,227
Social security and other taxes 98 712
VAT - 1,252
Accruals and deferred income 33,680 1,250
97,094 40,561

Amounts owed to group undertakings are unsecured, interest free and are repayable on demand.

8. POST BALANCE SHEET EVENTS

There were no significant events up to the date of approval of the financial statements by the Board.

9. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Swayline Limited, a company registered in England and Wales.