Caseware UK (AP4) 2021.0.152 2021.0.152 2022-03-312022-03-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-03-21Skincare clinic15falsetrue 13280141 2021-03-20 13280141 2021-03-21 2022-03-31 13280141 2020-03-21 2021-03-20 13280141 2022-03-31 13280141 c:Director1 2021-03-21 2022-03-31 13280141 d:Buildings d:ShortLeaseholdAssets 2021-03-21 2022-03-31 13280141 d:Buildings d:ShortLeaseholdAssets 2022-03-31 13280141 d:LandBuildings 2022-03-31 13280141 d:OfficeEquipment 2021-03-21 2022-03-31 13280141 d:OfficeEquipment 2022-03-31 13280141 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-03-21 2022-03-31 13280141 d:ComputerEquipment 2021-03-21 2022-03-31 13280141 d:ComputerEquipment 2022-03-31 13280141 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-03-21 2022-03-31 13280141 d:OwnedOrFreeholdAssets 2021-03-21 2022-03-31 13280141 d:Goodwill 2021-03-21 2022-03-31 13280141 d:Goodwill 2022-03-31 13280141 d:CurrentFinancialInstruments 2022-03-31 13280141 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 13280141 d:ShareCapital 2022-03-31 13280141 d:RetainedEarningsAccumulatedLosses 2022-03-31 13280141 c:FRS102 2021-03-21 2022-03-31 13280141 c:AuditExempt-NoAccountantsReport 2021-03-21 2022-03-31 13280141 c:FullAccounts 2021-03-21 2022-03-31 13280141 c:PrivateLimitedCompanyLtd 2021-03-21 2022-03-31 13280141 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2021-03-21 2022-03-31 13280141 d:Goodwill d:OwnedIntangibleAssets 2021-03-21 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 13280141









PS BEAUTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2022

 
PS BEAUTY LIMITED
REGISTERED NUMBER: 13280141

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2022

2022
Note
£

Fixed assets
  

Intangible assets
 4 
539,202

Tangible assets
 5 
98,675

  
637,877

Current assets
  

Stocks
  
47,000

Debtors: amounts falling due within one year
 6 
46,109

Cash at bank and in hand
 7 
116,794

  
209,903

Creditors: amounts falling due within one year
 8 
(906,693)

Net current (liabilities)/assets
  
 
 
(696,790)

Total assets less current liabilities
  
(58,913)

  

Net (liabilities)/assets
  
(58,913)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(58,914)

  
(58,913)

Page 1

 
PS BEAUTY LIMITED
REGISTERED NUMBER: 13280141
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 July 2022.




B O McSloy
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

1.


General information

PS Beauty Limited is a private company limited by shares and incorporated in England & Wales (registered number 13280141). The registered office is 1st Floor, 106 Cleveland Street, London, W1T 6NX.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position the director has obtained assurances from its creditor to continue to provide adequate funds to meets its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so.
Accordingly the director has continued to prepare the financial statements on the going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Page 4

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 5

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
20%
Straight line method
Office equipment
-
25%
Straight line method
Computer equipment
-
25%
Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

3.


Employees

The average monthly number of employees, including directors, during the period was 15.


4.


Intangible assets



Goodwill

£



Cost


Additions
599,113



At 31 March 2022

599,113



Amortisation


Charge for the period on owned assets
59,911



At 31 March 2022

59,911



Net book value



At 31 March 2022
539,202



Page 7

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

5.


Tangible fixed assets





Leasehold Improvements
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


Additions
7,312
114,980
6,649
128,941



At 31 March 2022

7,312
114,980
6,649
128,941



Depreciation


Charge for the period on owned assets
430
28,586
1,250
30,266



At 31 March 2022

430
28,586
1,250
30,266



Net book value



At 31 March 2022
6,882
86,394
5,399
98,675




The net book value of land and buildings may be further analysed as follows:


2022
£

Short leasehold
6,882

6,882


Page 8

 
PS BEAUTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2022

6.


Debtors

2022
£


Trade debtors
15,746

Other debtors
28,000

Prepayments and accrued income
2,363

46,109



7.


Cash and cash equivalents

2022
£

Cash at bank and in hand
116,794

116,794



8.


Creditors: Amounts falling due within one year

2022
£

Trade creditors
20,068

Other taxation and social security
31,628

Other creditors
851,997

Accruals and deferred income
3,000

906,693


 
Page 9