Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-312022-02-01falseThe principal activity of the company is the sale of beauty products.44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09940444 2022-02-01 2023-01-31 09940444 2021-02-01 2022-01-31 09940444 2023-01-31 09940444 2022-01-31 09940444 c:Director1 2022-02-01 2023-01-31 09940444 d:OfficeEquipment 2022-02-01 2023-01-31 09940444 d:OfficeEquipment 2023-01-31 09940444 d:OfficeEquipment 2022-01-31 09940444 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09940444 d:CurrentFinancialInstruments 2023-01-31 09940444 d:CurrentFinancialInstruments 2022-01-31 09940444 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09940444 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09940444 d:ShareCapital 2023-01-31 09940444 d:ShareCapital 2022-01-31 09940444 d:RetainedEarningsAccumulatedLosses 2023-01-31 09940444 d:RetainedEarningsAccumulatedLosses 2022-01-31 09940444 c:OrdinaryShareClass1 2022-02-01 2023-01-31 09940444 c:OrdinaryShareClass1 2023-01-31 09940444 c:OrdinaryShareClass1 2022-01-31 09940444 c:FRS102 2022-02-01 2023-01-31 09940444 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 09940444 c:FullAccounts 2022-02-01 2023-01-31 09940444 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09940444 2 2022-02-01 2023-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09940444









COSMETIPS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
COSMETIPS LTD
REGISTERED NUMBER: 09940444

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
16,669
14,324

  
16,669
14,324

Current assets
  

Stocks
  
274,599
-

Debtors: amounts falling due within one year
 5 
100,642
77,954

Cash at bank and in hand
 6 
692,871
370,618

  
1,068,112
448,572

Creditors: amounts falling due within one year
 7 
(1,000,873)
(394,169)

Net current assets
  
 
 
67,239
 
 
54,403

Total assets less current liabilities
  
83,908
68,727

  

Net assets
  
83,908
68,727


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
83,808
68,627

  
83,908
68,727


Page 1

 
COSMETIPS LTD
REGISTERED NUMBER: 09940444
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J C Aaron
Director

Date: 20 October 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
COSMETIPS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Cosmetips Limited is a private company, limited by shares and incorporated in England and Wales (registered number: 09940444).
The registered office and principal place of business address is Unit 2 Atlas Business Centre, London, NW2 7HJ.
The principal activity of the Company continued to be the sale of beauty products.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
COSMETIPS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
COSMETIPS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
COSMETIPS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 February 2022
19,933


Additions
27,003


Disposals
(16,467)



At 31 January 2023

30,469



Depreciation


At 1 February 2022
5,609


Charge for the year on owned assets
8,191



At 31 January 2023

13,800



Net book value



At 31 January 2023
16,669



At 31 January 2022
14,324

Page 6

 
COSMETIPS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Trade debtors
9,297
-

Other debtors
22,303
20,450

Prepayments and accrued income
69,042
57,504

100,642
77,954



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
692,871
370,618

692,871
370,618



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
182,375
4,629

Corporation tax
7,334
8,517

Other taxation and social security
-
11,887

Other creditors
808,664
359,418

Accruals and deferred income
2,500
9,718

1,000,873
394,169



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £0.01 each
100
100


 
Page 7