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Registered number: 04001419





FEELPRIME LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




















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FEELPRIME LIMITED
REGISTERED NUMBER: 04001419

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
56,157
78,662

  
56,157
78,662

Current assets
  

Stocks
 5 
22,953
25,557

Debtors: amounts falling due within one year
 6 
57,500
11,665

Cash at bank and in hand
  
196,274
600,268

  
276,727
637,490

Creditors: amounts falling due within one year
 7 
(81,236)
(615,562)

Net current assets
  
 
 
195,491
 
 
21,928

Total assets less current liabilities
  
251,648
100,590

Creditors: amounts falling due after more than one year
 8 
(12,128)
(22,301)

  

Net assets
  
239,520
78,289


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
239,519
78,288

  
239,520
78,289

Page 1

 
FEELPRIME LIMITED
REGISTERED NUMBER: 04001419
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 21 March 2025.




A Dove
Director

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

Page 2

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Feelprime Limited is a private company, limited by shares, domiciled in England and Wales. The registered office is Talbot Campus, Fern Barrow, Poole, Dorset, BH12 5BB.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight-line

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.

 
2.9

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.

 
2.10

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.

Page 4

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Wages costs are recharged from the parent charity (The Students' Union at BU Limited). 


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2023
558,801


Additions
4,436



At 31 July 2024

563,237



Depreciation


At 1 August 2023
480,139


Charge for the year on owned assets
26,941



At 31 July 2024

507,080



Net book value



At 31 July 2024
56,157



At 31 July 2023
78,662

Page 5

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Stocks

2024
2023
£
£

Bar stock
22,953
25,557

22,953
25,557

Page 6

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
18,350
4,979

Amounts owed by group undertakings
18,324
-

Prepayments and accrued income
20,826
6,686

57,500
11,665



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,372
9,962

Trade creditors
59,041
30,356

Amounts owed to group undertakings
-
546,053

Corporation tax
-
260

Other creditors
1,580
-

Accruals and deferred income
10,243
28,931

81,236
615,562



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
12,128
22,301

12,128
22,301


Page 7

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,372
9,962


10,372
9,962

Amounts falling due 1-2 years

Bank loans
10,390
10,173


10,390
10,173

Amounts falling due 2-5 years

Bank loans
1,738
12,128


1,738
12,128


22,500
32,263



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
196,274
196,274




Financial assets measured at fair value through profit or loss comprise...


11.


Controlling party

The Students' Union at BU Limited (SUBU) is the ultimate holding organisation. The registered office address is Talbot Campus, Fern Barrow, Poole, Dorset, BH12 5BB. The issued share capital in Feelprime Limited was transferred to The Students' Union at BU Limited on 28 August 2020. On 28 August 2020, Feelprime Limited transferred assets, activities, contracts, employees and liabilities to The Students' Union at BU Limited. 

Page 8

 
FEELPRIME LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 1 April 2025 by Misty Nickells FCA (Senior statutory auditor) on behalf of Griffin.

 
Page 9