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REGISTERED NUMBER: 11504352 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

LASE COSMETIC LIMITED

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LASE COSMETIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: L Ali-Khan
A Ali-Khan





REGISTERED OFFICE: Haughmond House
Aykley Heads Farm
Aykley Heads
Durham City
DH1 5AN





REGISTERED NUMBER: 11504352 (England and Wales)





ACCOUNTANTS: Ribchesters
Chartered Accountants
Finchale House
Belmont Business Park
Durham
DH1 1TW

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 179,011 210,214

CURRENT ASSETS
Stocks 12,500 8,000
Debtors 5 15,827 59,516
Cash at bank 15,150 14,141
43,477 81,657
CREDITORS
Amounts falling due within one year 6 623,103 483,002
NET CURRENT LIABILITIES (579,626 ) (401,345 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(400,615

)

(191,131

)

CREDITORS
Amounts falling due after more than one
year

7

23,991

68,865
NET LIABILITIES (424,606 ) (259,996 )

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings (424,616 ) (260,006 )
SHAREHOLDERS' FUNDS (424,606 ) (259,996 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

BALANCE SHEET - continued
31 MARCH 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2023 and were signed on its behalf by:





A Ali-Khan - Director


LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

LASE Cosmetic Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 306,982
Additions 1,094
At 31 March 2023 308,076
DEPRECIATION
At 1 April 2022 96,768
Charge for year 32,297
At 31 March 2023 129,065
NET BOOK VALUE
At 31 March 2023 179,011
At 31 March 2022 210,214

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 14,565
DEPRECIATION
At 1 April 2022 8,079
Charge for year 1,622
At 31 March 2023 9,701
NET BOOK VALUE
At 31 March 2023 4,864
At 31 March 2022 6,486

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,824 50,234
Other debtors 7,003 9,282
15,827 59,516

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) 5,886 2,410
Trade creditors 79,634 30,045
Taxation and social security 1,389 891
Other creditors 536,194 449,656
623,103 483,002

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 8) - 5,886
Other creditors 23,991 62,979
23,991 68,865

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 5,886 2,410
Between one and five years - 5,886
5,886 8,296

Non-cancellable operating leases
2023 2022
£    £   
Within one year 91,259 121,284
Between one and five years 206,068 223,573
In more than five years 51,173 10,234,616
348,500 10,579,473

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 5,886 8,296
Other loans 30,126 92,409
36,012 100,705

The above bank loan is secured on the personal property of the directors.

The hire purchase is secured against the asset to which it relates.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £0.01 10 10

11. RELATED PARTY DISCLOSURES

During the year the directors provided the company with an interest free loan. At 31 March 2023 the balance of the loan was £274,147 (2022: £233,879).

During the year the company received loan finance (represented by direct cash borrowings as well as expenses borne on its behalf) from a company related by common directors / shareholders. This loan is interest free and repayable on demand. At 31 March 2023 the balance of the loan was £210,716 (2022: £140,716). During the year the company recharged a related company for services of directors and associated costs on what the directors have assessed as market terms (£30,000, 2021/22 - £30,000).