The Couture Corporation Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03461468 (England and Wales)

THE COUTURE CORPORATION LIMITED

TRADING AS

WALPOLE BAY HOTEL

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P S Bishop

Mrs P J Bishop

J I D Bishop

Mrs G L Bishop

SECRETARY:

J I D Bishop

REGISTERED OFFICE:

Walpole Bay Hotel

Fifth Avenue

Cliftonville

Margate

Kent

CT9 2JJ

REGISTERED NUMBER:

03461468 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

399,923

406,367

399,923

406,367

CURRENT ASSETS

Stocks

1,400

1,400

Debtors

6

11,638

13,502

Cash at bank and in hand

64,251

97,719

77,289

112,621

CREDITORS

Amounts falling due within one year

7

(120,885

)

(162,131

)

NET CURRENT LIABILITIES

(43,596

)

(49,510

)

TOTAL ASSETS LESS CURRENT LIABILITIES

356,327

356,857

CREDITORS

Amounts falling due after more than one year

8

-

(130,666

)

PROVISIONS FOR LIABILITIES

(6,148

)

(7,227

)

NET ASSETS

350,179

218,964

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

350,079

218,864

SHAREHOLDERS' FUNDS

350,179

218,964

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2022 and were signed on its behalf by:

Mrs P J Bishop - Director

1.	STATUTORY INFORMATION

The Couture Corporation Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1997, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

nil

Fixture & Fittings

-

25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2021 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

60,000

AMORTISATION

At 1 April 2021

and 31 March 2022

60,000

NET BOOK VALUE

At 31 March 2022

-

At 31 March 2021

-

5.	TANGIBLE FIXED ASSETS

Freehold

Fixture &

property

Fittings

Totals

£

£

£

COST

At 1 April 2021

and 31 March 2022

364,071

255,744

619,815

DEPRECIATION

At 1 April 2021

-

213,448

213,448

Charge for year

-

6,444

6,444

At 31 March 2022

-

219,892

219,892

NET BOOK VALUE

At 31 March 2022

364,071

35,852

399,923

At 31 March 2021

364,071

42,296

406,367

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

7,498

-

Other debtors

4,140

13,502

11,638

13,502

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

9,333

Payments on account

59,818

-

Trade creditors

2,975

-

Taxation and social security

39,801

12,732

Other creditors

18,291

140,066

120,885

162,131

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

130,666

Amounts falling due in more than five years:

Repayable by instalments

Bank loans over 5 years

-

18,666

9.	RELATED PARTY DISCLOSURES