Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseThe principal activity of the company continued to be that of sale of cosmetic products33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03701583 2022-04-01 2023-03-31 03701583 2021-04-01 2022-03-31 03701583 2023-03-31 03701583 2022-03-31 03701583 2021-04-01 03701583 c:Director3 2022-04-01 2023-03-31 03701583 d:PlantMachinery 2022-04-01 2023-03-31 03701583 d:PlantMachinery 2023-03-31 03701583 d:PlantMachinery 2022-03-31 03701583 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-04-01 2023-03-31 03701583 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 03701583 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-03-31 03701583 d:CurrentFinancialInstruments 2023-03-31 03701583 d:CurrentFinancialInstruments 2022-03-31 03701583 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03701583 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03701583 d:ShareCapital 2023-03-31 03701583 d:ShareCapital 2022-03-31 03701583 d:SharePremium 2023-03-31 03701583 d:SharePremium 2022-03-31 03701583 d:RetainedEarningsAccumulatedLosses 2023-03-31 03701583 d:RetainedEarningsAccumulatedLosses 2022-03-31 03701583 c:OrdinaryShareClass1 2022-04-01 2023-03-31 03701583 c:OrdinaryShareClass1 2023-03-31 03701583 c:FRS102 2022-04-01 2023-03-31 03701583 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03701583 c:FullAccounts 2022-04-01 2023-03-31 03701583 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03701583 2 2022-04-01 2023-03-31 03701583 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 03701583 d:TaxLossesCarry-forwardsDeferredTax 2022-03-31 03701583 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03701583














BOND STREET COSMETICS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
BOND STREET COSMETICS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
BOND STREET COSMETICS LIMITED
REGISTERED NUMBER:03701583

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
29,826
36,606

  
29,826
36,606

Current assets
  

Stocks
 6 
50,798
33,220

Debtors: amounts falling due within one year
 7 
72,797
91,873

Cash at bank and in hand
 8 
53,058
57,372

  
176,653
182,465

Creditors: amounts falling due within one year
 9 
(30,450)
(43,644)

Net current assets
  
 
 
146,203
 
 
138,821

Total assets less current liabilities
  
176,029
175,427

  

Net assets
  
176,029
175,427


Capital and reserves
  

Called up share capital 
 11 
5,000
5,000

Share premium account
  
75,000
75,000

Profit and loss account
  
96,029
95,427

  
176,029
175,427


1

 
BOND STREET COSMETICS LIMITED
REGISTERED NUMBER:03701583
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider 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 directors acknowledge their 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 profit and loss account 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: 




R P Carroll
Director

Date: 10 November 2023

The notes on pages 3 to 9 form part of these financial statements.

2

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Bond Street Cosmetics Limited is a private company, limited by shares and registered in England and Wales, registration number 03701583. The registered office address is 20-22 Great Titchfield Street, London, W1W 8BE and the trading address is 26 Leopardstown Drive, Blackrock, County Dublin, Ireland.
The principal activity of the company continued to be that of sale of cosmetic products.

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 pound sterling.

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.

 
2.3

Turnover

Turnover comprises revenue recognised by the company from the sale of cosmetic products during the period, exclusive of Value Added Tax and trade discounts.

 
2.4

Interest income

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

3

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Trademarks
-
10%
Straight line

4

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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.

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:

Plant and machinery
-
20%
Straight Line

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 of cosmetic products 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 weighted average 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.

 
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.

 
2.11

 Creditors

Short term creditors are measured at the transaction price.

5

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.12

 Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

6

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Trademarks

£



Cost


At 1 April 2022
67,799



At 31 March 2023

67,799



Amortisation


At 1 April 2022
31,193


Charge for the year on owned assets
6,780



At 31 March 2023

37,973



Net book value



At 31 March 2023
29,826



At 31 March 2022
36,606




5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2022
1,473



At 31 March 2023

1,473



Depreciation


At 1 April 2022
1,473



At 31 March 2023

1,473



Net book value



At 31 March 2023
-



At 31 March 2022
-

7

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
50,798
33,220



7.


Debtors

2023
2022
£
£


Trade debtors
60
200

Other debtors
430
17,261

Prepayments and accrued income
1,970
4,075

Deferred taxation
70,337
70,337

72,797
91,873



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
53,058
57,372



9.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
-
1,093

Other creditors
10,000
3,791

Accruals and deferred income
20,450
38,760

30,450
43,644


8

 
BOND STREET COSMETICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
70,337
70,337



At end of year
70,337
70,337

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
70,337
70,337


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



5,000 Ordinary shares of £1.00 each
5,000
5,000


 
9