REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
8BELLA UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
8BELLA UK LIMITED |
8BELLA UK LIMITED (REGISTERED NUMBER: 10918852) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
8BELLA UK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditor |
15 West Street |
Brighton |
East Sussex |
BN1 2RL |
8BELLA UK LIMITED (REGISTERED NUMBER: 10918852) |
STATEMENT OF FINANCIAL POSITION |
30 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Other reserves | 7 |
Retained earnings | 7 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
8BELLA UK LIMITED (REGISTERED NUMBER: 10918852) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
8bella Uk Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The comparative figures presented are for a period of 13 months (from 1 September 2022 to 30 September 2023), while the current period is for 12 months (from 1 October 2023 to 30 September 2024). |
The extended prior period arose in order to align the financial year-end with that of the parent/group company. |
As a result, the comparative figures are not directly comparable with those of the current period. |
Going concern |
When preparing the accounts, the directors have made an assessment of the ability of the entity to exist as a going concern for a period of at least 12 months from the date upon which these accounts are filed. A company is a going concern unless management either intends to liquidate the entity or cease trading, or has no realistic alternative but to do so. In assessing whether the going concern assumption is appropriate, management have taken into account all available information about the future, which includes future expected cash flows, financing requirements (and the expectation of obtaining these) and future trading performance. |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is made up of amounts receivable for the sale of goods via online marketing platforms. |
The company recognises income once it has received confirmation of acceptance from the customer as this is the point that it can be sure that the risks and rewards of ownership of the goods have passed to the customer. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Stock is recognised when the goods are despatched from the supplier and are calculated on a FIFO basis. |
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. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial instruments are initially recognised at the transaction price and are subsequently measured at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
Other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently carried at fair value, with adjustments through the profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
8BELLA UK LIMITED (REGISTERED NUMBER: 10918852) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. |
Rentals payable under operating leases, including any lease incentives received, are changed to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed. |
Share based payments |
On 28th September 2023, the group gifted 30 ordinary shares in 8Bella (UK) Limited to an individual for no consideration. The directors have assessed the cost of this to be £300,000. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Payments on account | 33,751 | 38,356 |
VAT |
Prepayments and accrued income |
Amounts owed by group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Bank loans | - | 26,663 |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
VAT | - | 2,454 |
Other creditors |
Accruals and deferred income |
Amounts due to group undertakings are unsecured, interest free, have no fixed date of repayment and are repayable on demand. |
8BELLA UK LIMITED (REGISTERED NUMBER: 10918852) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary A | 1 | 70 | 70 |
Ordinary B | 1 | 30 | 30 |
100 | 100 |
Ordinary A shares carry full rights to vote, receive dividends, and share in capital on winding up. |
Ordinary B shares do not carry voting rights or rights to receive notice of general meetings. Dividends and return of capital are shared pro rata with A shares, unless otherwise determined by the A shareholder. Transfers of B shares are restricted and require the written consent of the A shareholder. |
7. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 October 2023 | 1,130,283 |
Profit for the year | - |
At 30 September 2024 | 1,720,493 |
Other reserves represent a contribution from the parent company. |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | RELATED PARTY DISCLOSURES |
During the year the company entered into the following transactions with related parties: |
Sales | Sales | Purchases | Purchases |
2024 | 2023 | 2024 | 2023 |
£ | £ | £ | £ |
Other related parties | 34,515 | - | 5,304,110 | 3,403,202 |
The following amounts were outstanding at the reporting end date: |
2024 | 2023 |
Amounts due to/(from) related parties | £ | £ |
Other related parties | 414,203 | 906,487 |
10. | ULTIMATE CONTROLLING PARTY |
The parent and immediate controlling party of the entity is CH Investment Holding Limited, a company incorporated in England and Wales. As at the balance sheet date there was no ultimate controlling party of CH Investment Limited. CH Investment Limited will prepare consolidated accounts. |
The smallest and largest company in which the results of the company are consolidated is CH Investment Limited. Copies of the group accounts can be obtained from the registered address. |