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Registered Number: 13839775
England and Wales

 

 

 

OMG BEAUTY & NAILS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 11 January 2022

End date: 31 January 2023
 
 
Notes
 
2023
£
Current assets    
Cash at bank and in hand 2,958 
Creditors: amount falling due within one year 3 (10,711)
Net current liabilities (7,753)
 
Total assets less current liabilities (7,753)
Provisions for liabilities 4 (66)
Net liabilities (7,819)
 

Capital and reserves
   
Called up share capital 100 
Profit and loss account (7,919)
Shareholder's funds (7,819)
 


For the period ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 23 September 2023 and were signed by:


-------------------------------
Wen Qiong Yu
Director
1
General Information
OMG BEAUTY & NAILS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13839775, registration address 73a Lee High Road, London, SE13 5NS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Creditors: amount falling due within one year

2023
£
Accrued Expenses 900 
Directors' Current Accounts 9,811 
10,711 

4.

Provisions for liabilities

2023
£
Pension Provisions 66 
66 

2