Bridal Suite (Nottinghamshire) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10164469 (England and Wales)

BRIDAL SUITE (NOTTINGHAMSHIRE) LIMITED

Unaudited Financial Statements

for the Year Ended 31 May 2021

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

G E Mason

Mrs J F Mason

Miss A J Mason

Miss C F Mason

REGISTERED OFFICE:

C/o Keith Willis Associates Ltd

Gothic House

Barker Gate

Nottingham

NG1 1JU

REGISTERED NUMBER:

10164469 (England and Wales)

ACCOUNTANTS:

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2021 set out on pages four to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Keith Willis Associates Limited

Gothic House

Barker Gate

Nottingham

Nottinghamshire

NG1 1JU

6 January 2022

FIXED ASSETS

Intangible assets

4

30,500

36,500

Tangible assets

5

4,907

3,312

35,407

39,812

CURRENT ASSETS

Stocks

14,315

16,214

Debtors

6

30,191

42,317

Cash at bank

63,579

44,372

108,085

102,903

CREDITORS

Amounts falling due within one year

7

35,466

28,617

NET CURRENT ASSETS

72,619

74,286

TOTAL ASSETS LESS CURRENT LIABILITIES

108,026

114,098

CREDITORS

Amounts falling due after more than one year

8

107,841

99,978

NET ASSETS

185

14,120

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

9

85

14,020

185

14,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2021 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 January 2022 and were signed on its behalf by:

Mrs J F Mason - Director

1.	STATUTORY INFORMATION

Bridal Suite (Nottinghamshire) 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 2017, is being amortised evenly over its estimated useful life of ten 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 each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Stocks

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 4 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2020

and 31 May 2021

60,000

AMORTISATION

At 1 June 2020

23,500

Charge for year

6,000

At 31 May 2021

29,500

NET BOOK VALUE

At 31 May 2021

30,500

At 31 May 2020

36,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 June 2020

7,840

-

7,840

Additions

2,662

1,293

3,955

At 31 May 2021

10,502

1,293

11,795

DEPRECIATION

At 1 June 2020

4,528

-

4,528

Charge for year

2,101

259

2,360

At 31 May 2021

6,629

259

6,888

NET BOOK VALUE

At 31 May 2021

3,873

1,034

4,907

At 31 May 2020

3,312

-

3,312

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

30,191

21,898

Amounts owed by participating interests

-

20,419

30,191

42,317

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

4,437

-

Trade creditors

19,404

14,670

Taxation and social security

10,142

12,408

Other creditors

1,483

1,539

35,466

28,617

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

20,563

25,000

Other creditors

87,278

74,978

107,841

99,978

9.

RESERVES

Retained

earnings

£

At 1 June 2020

14,020

Profit for the year

18,846

Dividends

(32,781

)

At 31 May 2021

85