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COMPANY REGISTRATION NUMBER: 03816435
Freestyle Beauty Products Limited
Filleted Unaudited Financial Statements
31 December 2021
Freestyle Beauty Products Limited
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
Fixed assets
Investments
4
2
2
Current assets
Debtors
5
1,498,500
498,500
Cash at bank and in hand
1,085
1,089
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1,499,585
499,589
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Net current assets
1,499,585
499,589
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Total assets less current liabilities
1,499,587
499,591
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Capital and reserves
Called up share capital
100
100
Profit and loss account
1,499,487
499,491
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--------
Shareholders funds
1,499,587
499,591
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 September 2022 , and are signed on behalf of the board by:
D Shah
K Shah
Director
Director
Company registration number: 03816435
Freestyle Beauty Products Limited
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Bermer Place, Imperial Way, Watford, WD24 4AY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Investments
Shares in group undertakings
£
Cost
At 1 January 2021 and 31 December 2021
2
----
Impairment
At 1 January 2021 and 31 December 2021
----
Carrying amount
At 31 December 2021
2
----
At 31 December 2020
2
----
The company owns the whole of the issued share capital of Universal Toiletries Corporation Ltd. The principal activity of the company is that of contract manufacturing and wholesale of toiletries. At the year end the aggregate of the share capital and reserves of Universal Toiletries Corporation Ltd amounted to £3,740,947 (2020 - £4,061,787) and the profit for the year was £749,160 (2020 - £2,338,019).
5. Debtors
2021
2020
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,498,500
498,500
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