Company Registration No. 06225347 (England and Wales)
BODY & SOUL WELL BEING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
BODY & SOUL WELL BEING LTD
COMPANY INFORMATION
Director
Mrs A J Freer
Company number
06225347
Registered office
10 The Crescent
Bromsgrove
Worcestershire
B60 2DE
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
National Westminster Bank Plc
124 High Street
Bromsgrove
Worcestershire
B61 8HJ
BODY & SOUL WELL BEING LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
BODY & SOUL WELL BEING LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BODY & SOUL WELL BEING LTD FOR THE PERIOD ENDED 31 MARCH 2020
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Body & Soul Well Being Ltd for the period ended 31 March 2020 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Body & Soul Well Being Ltd, as a body, in accordance with
our
terms
of
engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Body & Soul Well Being Ltd
and state those matters that we have agreed to state to the Board of Directors of Body & Soul Well Being Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Body & Soul Well Being Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Body & Soul Well Being Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit of Body & Soul Well Being Ltd. You consider that Body & Soul Well Being Ltd is exempt from the statutory audit
requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Body & Soul Well Being Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
23 December 2020
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BODY & SOUL WELL BEING LTD
BALANCE SHEET
AS AT 31 MARCH 2020
31 March 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,414
5,228
Current assets
Debtors
4
5,758
7,776
Cash at bank and in hand
678
126
6,436
7,902
Creditors: amounts falling due within one year
5
(37,901)
(50,025)
Net current liabilities
(31,465)
(42,123)
Total assets less current liabilities
(28,051)
(36,895)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(28,151)
(36,995)
Total equity
(28,051)
(36,895)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 December 2020.
Mrs A J Freer
Director
Company Registration No. 06225347
BODY & SOUL WELL BEING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2020
- 3 -
1
Accounting policies
Company information
Body & Soul Well Being Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
10 The Crescent, Bromsgrove, Worcestershire, B60 2DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements have been drawn up on the going concern basis. If the going concern basis were not appropriate, adjustments would have been made to reduce assets to recoverable amounts, to provide for any further liabilities that might arise, and to re-classify fixed assets as current assets and long term liabilities as current liabilities.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer
(usually on dispatch of the goods)
, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
25% on cost
Computer equipment
33% on cost
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BODY & SOUL WELL BEING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged 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 lease asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was 2 (2019 - 3).
BODY & SOUL WELL BEING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2020
- 5 -
3
Tangible fixed assets
Plant and machinery
Computer equipment
Total
£
£
£
Cost
At 1 July 2019
13,256
2,136
15,392
Additions
-
1,203
1,203
At 31 March 2020
13,256
3,339
16,595
Depreciation and impairment
At 1 July 2019
8,028
2,136
10,164
Depreciation charged in the period
2,619
398
3,017
At 31 March 2020
10,647
2,534
13,181
Carrying amount
At 31 March 2020
2,609
805
3,414
At 30 June 2019
5,228
-
5,228
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
2,150
2,193
Deferred tax asset
3,608
5,583
5,758
7,776
5
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans and overdrafts
1,501
3,401
Trade creditors
1,874
488
Taxation and social security
201
-
Other creditors
34,325
46,136
37,901
50,025
BODY & SOUL WELL BEING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2020
- 6 -
6
Secured debts
The following secured debts are included within creditors:
2020
2019
£
£
Bank overdrafts
1,501
3,401
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
100
100
8
Ultimate controlling party
The ultimate controlling party is Mrs A J Freer.