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REGISTERED NUMBER: 03364536 (England and Wales)















THE BODYSHOP (SKEGNESS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






THE BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


THE BODYSHOP (SKEGNESS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P G Chapman
J R Chapman
Ms J M Chapman



REGISTERED OFFICE: 27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



REGISTERED NUMBER: 03364536 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: HSBC Bank PLC
49 Lumley Road
Skegness
Lincolnshire
PE25 3LW

THE BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 110,432 156,591
110,432 156,591

CURRENT ASSETS
Stocks 69,944 55,988
Debtors 6 338,128 385,654
Cash at bank 164,826 30,465
572,898 472,107
CREDITORS
Amounts falling due within one year 7 437,518 454,657
NET CURRENT ASSETS 135,380 17,450
TOTAL ASSETS LESS CURRENT LIABILITIES 245,812 174,041

CREDITORS
Amounts falling due after more than one year 8 (97,675 ) (112,975 )

PROVISIONS FOR LIABILITIES (22,447 ) (27,200 )
NET ASSETS 125,690 33,866

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 125,590 33,766
SHAREHOLDERS' FUNDS 125,690 33,866

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 2024


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 26 February 2025 and were signed on its behalf by:





P G Chapman - Director


THE BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

The Bodyshop (Skegness) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
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 aquisition of the business has been amortised evenly over its estimated useful life of ten years

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


THE BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the statement of income and retained earnings in the period to which they relate.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accruals method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 7,000
AMORTISATION
At 1 July 2023
and 30 June 2024 7,000
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

THE BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 75,800 426,260 502,060
Additions - 8,306 8,306
Disposals - (3,575 ) (3,575 )
At 30 June 2024 75,800 430,991 506,791
DEPRECIATION
At 1 July 2023 31,667 313,802 345,469
Charge for year 3,032 51,121 54,153
Eliminated on disposal - (3,263 ) (3,263 )
At 30 June 2024 34,699 361,660 396,359
NET BOOK VALUE
At 30 June 2024 41,101 69,331 110,432
At 30 June 2023 44,133 112,458 156,591

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 85,171 97,892
Other debtors 252,957 287,762
338,128 385,654

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 9,242 9,013
Hire purchase contracts 3,520 11,082
Trade creditors 124,162 152,154
Taxation and social security 93,355 58,013
Other creditors 207,239 224,395
437,518 454,657

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 8,679 17,920
Hire purchase contracts 13,996 20,055
Other creditors 75,000 75,000
97,675 112,975

The company has 75,000 £1 Redeemable Preference shares. Subject to the provisions of the Companies Act 2006, the company may at any time redeem the whole or any part of the preference shares. The company shall not be entitled to redeem any preference share unless it is fully paid. The redeemable preference shares are currently considered to be core funding and there are no plans to redeem the shares within one year of the statement of financial position date. Consequently, they are shown as a long term financial liability.

THE BODYSHOP (SKEGNESS) LIMITED (REGISTERED NUMBER: 03364536)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
P G Chapman
Balance outstanding at start of year 53,189 51,589
Amounts advanced 42,732 42,100
Amounts repaid (350 ) (40,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,571 53,189

J R Chapman
Balance outstanding at start of year 76,937 74,079
Amounts advanced 39,947 43,358
Amounts repaid (6,454 ) (40,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 110,430 76,937

The company has provided the directors with an interest free loan totalling £206,001 (2023 £130,126).

A director has provided an interest free loan totalling £181,249 (2023 £189,749).