Caseware UK (AP4) 2023.0.135 2023.0.135 2024-08-312024-08-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-09-01falseNo description of principal activity1313falsetrue 02958888 2023-09-01 2024-08-31 02958888 2022-09-01 2023-08-31 02958888 2024-08-31 02958888 2023-08-31 02958888 c:Director1 2023-09-01 2024-08-31 02958888 d:FurnitureFittings 2023-09-01 2024-08-31 02958888 d:FurnitureFittings 2024-08-31 02958888 d:FurnitureFittings 2023-08-31 02958888 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 02958888 d:Goodwill 2024-08-31 02958888 d:Goodwill 2023-08-31 02958888 d:CurrentFinancialInstruments 2024-08-31 02958888 d:CurrentFinancialInstruments 2023-08-31 02958888 d:Non-currentFinancialInstruments 2024-08-31 02958888 d:Non-currentFinancialInstruments 2023-08-31 02958888 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 02958888 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 02958888 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 02958888 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 02958888 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-08-31 02958888 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 02958888 d:ShareCapital 2024-08-31 02958888 d:ShareCapital 2023-08-31 02958888 d:RetainedEarningsAccumulatedLosses 2024-08-31 02958888 d:RetainedEarningsAccumulatedLosses 2023-08-31 02958888 c:FRS102 2023-09-01 2024-08-31 02958888 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 02958888 c:FullAccounts 2023-09-01 2024-08-31 02958888 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 02958888 2 2023-09-01 2024-08-31 02958888 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 02958888









CONFETTI & LACE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
CONFETTI & LACE LIMITED
REGISTERED NUMBER: 02958888

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
43,383
48,204

  
43,383
48,204

Current assets
  

Stocks
 6 
37,423
37,135

Debtors: amounts falling due within one year
 7 
18,056
1,003,774

Cash at bank and in hand
 8 
84,970
143,591

  
140,449
1,184,500

Creditors: amounts falling due within one year
 9 
(173,555)
(266,147)

Net current (liabilities)/assets
  
 
 
(33,106)
 
 
918,353

Total assets less current liabilities
  
10,277
966,557

Creditors: amounts falling due after more than one year
 10 
(10,127)
(20,149)

  

Net assets
  
150
946,408


Capital and reserves
  

Called up share capital 
  
150
150

Profit and loss account
  
-
946,258

  
150
946,408


Page 1

 
CONFETTI & LACE LIMITED
REGISTERED NUMBER: 02958888
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 March 2025.




................................................
Christine Dando
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Confetti & Lace Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of wedding dress and accessory retail.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
10% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 13).

Page 5

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 September 2023
38,800



At 31 August 2024

38,800



Amortisation


At 1 September 2023
38,800



At 31 August 2024

38,800



Net book value



At 31 August 2024
-



At 31 August 2023
-




5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 September 2023
255,296



At 31 August 2024

255,296



Depreciation


At 1 September 2023
207,092


Charge for the year on owned assets
4,821



At 31 August 2024

211,913



Net book value



At 31 August 2024
43,383



At 31 August 2023
48,204

Page 6

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
37,423
37,135

37,423
37,135


Page 7

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

7.


Debtors

2024
2023
£
£


Trade debtors
10,225
8,780

Amounts owed by group undertakings
6,130
198,059

Other debtors
-
794,935

Prepayments and accrued income
1,701
2,000

18,056
1,003,774


Included within other debtors due within one year is a loan to Christine Dando, the director, amounting to £nil (2023 - £741,243).




8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
84,970
143,591

84,970
143,591



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
40,890
54,348

Amounts owed to joint ventures
61,771
101,380

Corporation tax
22,842
64,472

Other taxation and social security
33,541
31,651

Accruals and deferred income
4,511
4,296

173,555
266,147




Page 8

 
CONFETTI & LACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
10,127
20,149

10,127
20,149



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,127
20,149



20,127
30,149



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £7,400 (2023 - £16,713). Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

The Company is controlled by Christine Dando Bridals (Ontario Corp), a company in which Christine Dando is director and majority shareholder.

 
Page 9