Company registration number 11756979 (England and Wales)
NOVELLUS AESTHETICS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
PAGES FOR FILING WITH REGISTRAR
NOVELLUS AESTHETICS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
NOVELLUS AESTHETICS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2022
31 January 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
18,669
10,740
Current assets
Stocks
10,000
10,000
Debtors
4
27,961
13,309
Cash at bank and in hand
35,460
35,118
73,421
58,427
Creditors: amounts falling due within one year
5
(27,844)
(18,525)
Net current assets
45,577
39,902
Total assets less current liabilities
64,246
50,642
Creditors: amounts falling due after more than one year
6
(40,740)
(47,500)
Provisions for liabilities
(3,338)
(810)
Net assets
20,168
2,332
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
20,068
2,232
Total equity
20,168
2,332

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year 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.

NOVELLUS AESTHETICS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2022
31 January 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on
05 September 2022
05 September 2022
and are signed on its behalf by:
Dr S Land
Director
Company Registration No. 11756979
NOVELLUS AESTHETICS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2022
- 3 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 February 2020
100
78
178
Year ended 31 January 2021:
Profit and total comprehensive income for the year
-
42,654
42,654
Dividends
-
(40,500)
(40,500)
Balance at 31 January 2021
100
2,232
2,332
Year ended 31 January 2022:
Profit and total comprehensive income for the year
-
62,836
62,836
Dividends
-
(45,000)
(45,000)
Balance at 31 January 2022
100
20,068
20,168
NOVELLUS AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2022
- 4 -
1
Accounting policies
Company information

Novellus Aesthetics Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Benton Terrace, Jesmond, Newcastle, United Kingdom, NE2 1QU.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of trade discounts.

 

Revenue is recognised when the services are delivered to clients, in line with the client agreement and the entitlement to income.

1.3
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:

Fixtures and fittings
15% reducing balance
Computers
20% reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

NOVELLUS AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
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.

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.

1.9
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

The grant does not specify performance conditions therefore it is recognised in income when the proceeds are received or receivable.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
2021
Total
4
3
NOVELLUS AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 6 -
3
Tangible fixed assets
Fixtures and Fittings
Computers
Total
£
£
£
Cost
At 1 February 2021
4,197
8,632
12,829
Additions
9,150
1,649
10,799
At 31 January 2022
13,347
10,281
23,628
Depreciation
At 1 February 2021
650
1,439
2,089
Depreciation charged in the year
1,377
1,493
2,870
At 31 January 2022
2,027
2,932
4,959
Carrying amount
At 31 January 2022
11,320
7,349
18,669
At 31 January 2021
3,547
7,193
10,740
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
3,878
1,099
Other debtors
24,083
12,210
27,961
13,309
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
5,556
2,500
Trade creditors
2,450
1,556
Corporation tax
12,442
9,583
Other creditors
7,396
4,886
27,844
18,525
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans
40,740
47,500
NOVELLUS AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2022
- 7 -
7
Called up share capital
2022
2021
Ordinary share capital
£
£
Issued and fully paid
Ordinary 'A' shares of £1 each
50
50
Ordinary 'B' shares of £1 each
50
50
100
100
8
Related party transactions

The following amounts were outstanding at the reporting end date:

2022
2021
Amounts due from related parties
£
£
Directors
17,527
11,469

There are no set terms as to repayment of this balance and no interest accruing thereon.

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