Company No:
Contents
| Note | 2024 | 2023 | ||
| £ | £ | |||
| Current assets | ||||
| Stocks | 3 |
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| Debtors | 4 |
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| Cash at bank and in hand |
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| 906,807 | 25,071 | |||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets/(liabilities) | 378,210 | (6,109) | ||
| Total assets less current liabilities | 378,210 | (6,109) | ||
| Creditors: amounts falling due after more than one year | 6 | (
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| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Refresh Living No.6 Ltd (registered number:
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M Thomas
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Refresh Living No.6 Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 40 Kingston House 1 Kingston Road, Taunton, TA2 7ED, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements have been prepared on a going-concern basis. The company has net liabilities of £44,384 at the year-end. There are amounts owed to connected and group companies of £322,551, and these companies are under the control of M Thomas (director). These companies will not seek repayment of the loans for at least 12 months to the extent that any such repayment would jeopardise the future of the company, and therefore the director considers that the going concern basis is appropriate.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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 Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Loans and borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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| Monthly average number of persons employed by the Company during the year, including the director |
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| Work in progress |
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| Trade debtors |
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| Amounts owed by Group undertakings |
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| Amounts owed by connected companies |
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| Other debtors |
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| Trade creditors |
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| Amounts owed to Group undertakings |
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| Amounts owed to connected companies |
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| Other creditors |
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| Bank loans (secured) |
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During the year, the company entered into a number of transactions with associated group companies. At the year-end, there are amounts owed by group companies of £24,688 (2023 - £24,688) and amounts owed to group companies of £9,925 (2023 - £8,925) in connection with these transactions.
During the year, the company entered into a number of transactions with other companies which are under the control of M P Thomas (director). At the year-end, there are amounts owed by connected companies of £268,875 (2023 - £Nil) and amounts owed to connected companies of £312,626 (2023 - £20,182) in connection with these transactions.