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Registered Number: 08874372
England and Wales

 

 

 

MADAME WAX LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 March 2022

End date: 28 February 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 31,231    35,929 
31,231    35,929 
Current assets      
Stocks 21,017    4,000 
Debtors 10,629    22,360 
Cash at bank and in hand 35,694    31,943 
67,340    58,303 
Creditors: amount falling due within one year (43,099)   (25,946)
Net current assets 24,241    32,357 
 
Total assets less current liabilities 55,472    68,286 
Creditors: amount falling due after more than one year (50,307)   (56,549)
Net assets 5,165    11,737 
 

Capital and reserves
     
Called up share capital 5 1    1 
Profit and loss account 5,164    11,736 
Shareholder's funds 5,165    11,737 
 


For the year ended 28 February 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 year 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 18 September 2023 and were signed by:


-------------------------------
Adele Helen Bradbury
Director
1
General Information
Madame Wax Limited is a private company, limited by shares, registered in England and Wales, registration number 08874372, registration address Unit 8 Maelfa Shopping Centre, Llanedeyrn, Cardiff, CF123 9PL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
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
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Computer Equipment 33.33% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. 
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 year was 7 (2022 : 3).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 March 2022 26,000    26,000 
Additions  
Disposals  
At 28 February 2023 26,000    26,000 
Amortisation
At 01 March 2022 26,000    26,000 
Charge for year  
On disposals  
At 28 February 2023 26,000    26,000 
Net book values
At 28 February 2023  
At 28 February 2022  


4.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 March 2022 51,802    3,489    55,291 
Additions 3,647    3,276    6,923 
Disposals    
At 28 February 2023 55,449    6,765    62,214 
Depreciation
At 01 March 2022 18,199    1,163    19,362 
Charge for year 9,366    2,255    11,621 
On disposals    
At 28 February 2023 27,565    3,418    30,983 
Net book values
Closing balance as at 28 February 2023 27,884    3,347    31,231 
Opening balance as at 01 March 2022 33,603    2,326    35,929 


5.

Share Capital

Authorised
1 Class A share of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

2