Bod & Ted Limited - Period Ending 2021-06-30

Bod & Ted Limited

Statement of Financial Position as at 30 June 2021

	Note	2021 £	2020 £
Fixed assets
Tangible assets	4	222	4
Current assets
Debtors	5	968	612
Cash at bank and in hand		45,554	29,558
		46,522	30,170
Creditors: Amounts falling due within one year	6	(33,584)	(53,727)
Net current assets/(liabilities)		12,938	(23,557)
Net assets/(liabilities)		13,160	(23,553)
Capital and reserves
Called up share capital		3	3
Profit and loss account		13,157	(23,556)
Shareholders' funds/(deficit)		13,160	(23,553)

For the financial year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 10 November 2021 and signed on its behalf by:
 

.........................................

Mrs S C Bland

Director

Company registration number: 06995045

Bod & Ted Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Brebners
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of the online sale of ladies fashionwear.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Going concern

The company made a profit for the year ended 30 June 2021 and the statement of financial position showed net of assets of £13,160 at this date including cash at bank of £45,554.

The company's revenues are generated from online sales and therefore the company has been able to continue trading successfully throughout the restrictions that have been applied due to COVID-19.

On the basis of the above and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors have prepared the financial statements on the going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue at the point of despatch to customers.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Bod & Ted Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment	25% straight line
Website development	over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2020 - 0).

Bod & Ted Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2021

4	Tangible assets

	Furniture, fittings and equipment  £	Website development £	Total £
Cost or valuation
At 1 July 2020	-	13,880	13,880
Additions	249	-	249
At 30 June 2021	249	13,880	14,129
Depreciation
At 1 July 2020	-	13,876	13,876
Charge for the year	31	-	31
At 30 June 2021	31	13,876	13,907
Carrying amount
At 30 June 2021	218	4	222
At 30 June 2020	-	4	4

5

Debtors

	2021 £	2020 £
Other debtors	968	612
	968	612

6

Creditors

Creditors: amounts falling due within one year

		2021 £	2020 £
Trade creditors		2,197	1,264
Taxation and social security		3,067	755
Other creditors		28,320	51,708
		33,584	53,727