Registered number
09350906
EASYSKINZ LTD
Filleted Accounts
31 December 2022
EASYSKINZ LTD
Registered number: 09350906
Balance Sheet
as at 31 December 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 60,912 75,347
Current assets
Debtors 4 (90) (16,629)
Investments held as current assets 5 6,843 6,843
Cash at bank and in hand 483,238 470,693
489,991 460,907
Creditors: amounts falling due within one year 6 (273,744) (264,421)
Net current assets 216,247 196,486
Total assets less current liabilities 277,159 271,833
Creditors: amounts falling due after more than one year 7 - (142)
Net assets 277,159 271,691
Capital and reserves
Profit and loss account 277,159 271,691
Shareholders' funds 277,159 271,691
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.
I M Totocheva
Director
Approved by the board on 27 September 2023
EASYSKINZ LTD
Notes to the Accounts
for the year ended 31 December 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Plant and machinery 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 9 12
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2022 179,121
Additions 5,870
At 31 December 2022 184,991
Depreciation
At 1 January 2022 103,774
Charge for the year 20,305
At 31 December 2022 124,079
Net book value
At 31 December 2022 60,912
At 31 December 2021 75,347
4 Debtors 2022 2021
£ £
Trade debtors (5,086) (22,561)
Other debtors 4,996 5,932
(90) (16,629)
5 Investments held as current assets 2022 2021
£ £
Fair value
Unlisted investments 6,843 6,843
6 Creditors: amounts falling due within one year 2022 2021
£ £
Bank loans and overdrafts 66,177 36,317
Trade creditors 66,926 51,971
Taxation and social security costs 7,927 10,536
Other creditors 132,714 165,597
273,744 264,421
7 Creditors: amounts falling due after one year 2022 2021
£ £
Other creditors - 142
8 Other information
EASYSKINZ LTD is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5 Salterns Lane
Fareham
England
PO16 0SU
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