Company Registration No. 11776798 (England and Wales)
ANDY MILLWARD - FACIALIST LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ANDY MILLWARD - FACIALIST LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ANDY MILLWARD - FACIALIST LTD
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
54,343
15,572
Current assets
Stocks
11,000
11,000
Cash at bank and in hand
98,228
66,403
109,228
77,403
Creditors: amounts falling due within one year
4
(62,418)
(31,517)
Net current assets
46,810
45,886
Total assets less current liabilities
101,153
61,458
Creditors: amounts falling due after more than one year
5
(22,507)
(8,322)
Provisions for liabilities
(10,555)
Net assets
68,091
53,136
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
67,991
53,036
Total equity
68,091
53,136
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
ANDY MILLWARD - FACIALIST LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 26 September 2023
A Millward
Director
Company Registration No. 11776798
ANDY MILLWARD - FACIALIST LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
Andy Millward - Facialist Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 31 Baxter Road, Brierley Hill, West Midlands, DY5 3QQ.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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:
Plant and equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
ANDY MILLWARD - FACIALIST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022
33,139
Additions
58,500
Disposals
(2,870)
At 31 March 2023
88,769
Depreciation and impairment
At 1 April 2022
17,567
Depreciation charged in the year
18,519
Eliminated in respect of disposals
(1,660)
At 31 March 2023
34,426
Carrying amount
At 31 March 2023
54,343
At 31 March 2022
15,572
ANDY MILLWARD - FACIALIST LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
4
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
3,328
12,626
Other taxation and social security
9,545
6,853
Other creditors
49,545
12,038
62,418
31,517
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
22,507
8,322