Bliss and Beauty Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08833947 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2021

FOR

BLISS AND BEAUTY LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms V L Hart

REGISTERED OFFICE:

Smiths Yard

Dog Lane

South Kilworth

Leicestershire

LE17 6DY

REGISTERED NUMBER:

08833947 (England and Wales)

ACCOUNTANTS:

AEH Accountancy Ltd

Church Farm

Main Street

Willey

Warwickshire

CV23 0SH

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

6,152

7,690

6,152

7,690

CURRENT ASSETS

Stocks

24,000

23,700

Cash at bank and in hand

5,557

5,204

29,557

28,904

CREDITORS

Amounts falling due within one year

6

21,138

26,438

NET CURRENT ASSETS

8,419

2,466

TOTAL ASSETS LESS CURRENT LIABILITIES

14,571

10,156

PROVISIONS FOR LIABILITIES

7

1,169

1,461

NET ASSETS

13,402

8,695

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

13,302

8,595

SHAREHOLDERS' FUNDS

13,402

8,695

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 14 October 2021 and were signed by:

Ms V L Hart - Director

1.	STATUTORY INFORMATION

Bliss and Beauty Ltd 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.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover

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

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of four 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.

Fixtures and fittings

-

25% 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.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - 4 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2020

and 31 January 2021

20,000

AMORTISATION

At 1 February 2020

and 31 January 2021

20,000

NET BOOK VALUE

At 31 January 2021

-

At 31 January 2020

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2020

and 31 January 2021

16,624

DEPRECIATION

At 1 February 2020

8,934

Charge for year

1,538

At 31 January 2021

10,472

NET BOOK VALUE

At 31 January 2021

6,152

At 31 January 2020

7,690

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

2,392

6,417

Trade creditors

3,230

1

Tax

1,397

3,010

Social security and other taxes

455

455

VAT

3,182

6,073

Directors' current accounts

9,482

9,482

Accrued expenses

1,000

1,000

21,138

26,438

7.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

1,169

1,461

Deferred

tax

£

Balance at 1 February 2020

1,461

Provided during year

(292

)

Balance at 31 January 2021

1,169

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 February 2020

8,595

Profit for the year

4,707

At 31 January 2021

13,302

10.	RELATED PARTY DISCLOSURES

As at 31 January 2021 an amount of £9,482 (2020 £9,482) was owed to the director Ms V L Hart, by the company. This amount is shown under creditors in the balance sheet.

11.	ULTIMATE CONTROLLING PARTY

Ultimate controlling party is Ms V L Hart.