Registered number
06527217
Beautychem Ltd
Unaudited Filleted Accounts
31 March 2022
Beautychem Ltd
Registered number: 06527217
Balance Sheet
as at 31 March 2022
Notes 2022 2021
£ £
Fixed assets
Intangible assets 3 1 1
Tangible assets 4 9,190 9,230
9,191 9,231
Current assets
Stocks 28,751 32,501
Debtors 5 357,927 389,600
Cash at bank and in hand 347,219 265,130
733,897 687,231
Creditors: amounts falling due within one year 6 (211,798) (234,771)
Net current assets 522,099 452,460
Total assets less current liabilities 531,290 461,691
Provisions for liabilities (1,795) (1,795)
Net assets 529,495 459,896
Capital and reserves
Called up share capital 100 100
Profit and loss account 529,395 459,796
Shareholders' funds 529,495 459,896
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr K Patel
Director
Approved by the board on 3 August 2022
Beautychem Ltd
Notes to the Accounts
for the year ended 31 March 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value, net of value added tax , of sales of chemists merchandise and services provided.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 8 8
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2021 800,000
At 31 March 2022 800,000
Amortisation
At 1 April 2021 799,999
At 31 March 2022 799,999
Net book value
At 31 March 2022 1
At 31 March 2021 1
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2021 41,800
Additions 1,581
At 31 March 2022 43,381
Depreciation
At 1 April 2021 32,570
Charge for the year 1,621
At 31 March 2022 34,191
Net book value
At 31 March 2022 9,190
At 31 March 2021 9,230
5 Debtors 2022 2021
£ £
Trade debtors 52,858 50,383
KNAC Properties Ltd 300,000 300,000
Other debtors 5,069 39,217
357,927 389,600
6 Creditors: amounts falling due within one year 2022 2021
£ £
Trade creditors 83,868 74,579
Directors accounts 104,877 104,897
Taxation and social security costs 20,375 30,276
Other creditors 2,678 25,019
211,798 234,771
7 Related party transactions 2022 2021
KNAC Properties Ltd
Company controlled by the directors
Amount due from related party 300,000 300,000
8 Other information
Beautychem Ltd is a private company limited by shares and incorporated in England. Its registered office is:
c/o Ashmar & Co
34 Chapman Crescent
Harrow
Middx
HA3 0TE
Beautychem Ltd 06527217 false 2021-04-01 2022-03-31 2022-03-31 VT Final Accounts April 2022 Mr K Patel No description of principal activity 06527217 2020-04-01 2021-03-31 06527217 core:WithinOneYear 2021-03-31 06527217 core:ShareCapital 2021-03-31 06527217 core:RetainedEarningsAccumulatedLosses 2021-03-31 06527217 2021-04-01 2022-03-31 06527217 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 06527217 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 06527217 bus:Director40 2021-04-01 2022-03-31 06527217 core:PlantMachinery 2021-04-01 2022-03-31 06527217 countries:England 2021-04-01 2022-03-31 06527217 bus:FRS102 2021-04-01 2022-03-31 06527217 bus:FullAccounts 2021-04-01 2022-03-31 06527217 2022-03-31 06527217 core:WithinOneYear 2022-03-31 06527217 core:ShareCapital 2022-03-31 06527217 core:RetainedEarningsAccumulatedLosses 2022-03-31 06527217 core:Goodwill 2022-03-31 06527217 core:PlantMachinery 2022-03-31 06527217 2021-03-31 06527217 core:Goodwill 2021-03-31 06527217 core:PlantMachinery 2021-03-31 iso4217:GBP xbrli:pure