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COMPANY REGISTRATION NUMBER: 12058534
Butterfly Dance Studios Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Butterfly Dance Studios Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Butterfly Dance Studios Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,479
1,284
Current assets
Stocks
1,945
1,996
Debtors
6
3,369
1,340
Cash at bank and in hand
94,754
95,711
----------
--------
100,068
99,047
Creditors: amounts falling due within one year
7
24,955
24,522
----------
--------
Net current assets
75,113
74,525
--------
--------
Total assets less current liabilities
76,592
75,809
Creditors: amounts falling due after more than one year
8
17,354
20,817
--------
--------
Net assets
59,238
54,992
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
59,138
54,892
--------
--------
Shareholders funds
59,238
54,992
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2024 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Butterfly Dance Studios Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 26 April 2025 , and are signed on behalf of the board by:
Mrs S Roffey
Director
Company registration number: 12058534
Butterfly Dance Studios Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 31-33 Estcourt Street, Goole, East Yorkshire, DN14 5AS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. (b) Going concern The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis. (c) Revenue recognition Turnover comprises revenue recognised by the company in respect of income receivable net of value added tax. (d) Current and deferred tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. (f) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 15% reducing balance
(g) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) Financial instruments
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.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 4 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 October 2023
1,875
1,875
Additions
457
457
-------
-------
At 30 September 2024
2,332
2,332
-------
-------
Depreciation
At 1 October 2023
591
591
Charge for the year
262
262
-------
-------
At 30 September 2024
853
853
-------
-------
Carrying amount
At 30 September 2024
1,479
1,479
-------
-------
At 30 September 2023
1,284
1,284
-------
-------
6. Debtors
2024
2023
£
£
Trade debtors
3,369
1,340
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
3,463
3,377
Trade creditors
11,607
12,891
Corporation tax
8,076
7,987
Director loan accounts
1,809
267
--------
--------
24,955
24,522
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
17,354
20,817
--------
--------
Included in creditors due in more than one year is an amount of £2,605 which is due in more than 5 years (2023: £6,431)
9. Related party transactions
During the year the director made loans available to the company. The balance owing to the director at 30 September 2024 was £ 1,809 (2023: £267). This loan was interest free.