1 August 2022 false No description of principal activity Taxfiler 2023.10.1 SC570626business:PrivateLimitedCompanyLtd2022-08-012023-07-31 SC5706262022-07-31 SC5706262022-08-012023-07-31 SC570626business:AuditExemptWithAccountantsReport2022-08-012023-07-31 SC570626business:AbridgedAccounts2022-08-012023-07-31 SC5706262023-07-31 SC570626business:Director12022-08-012023-07-31 SC570626business:RegisteredOffice2022-08-012023-07-31 SC5706262022-07-31 SC570626core:WithinOneYear2023-07-31 SC570626core:WithinOneYear2022-07-31 SC570626core:ShareCapitalcore:PreviouslyStatedAmount2023-07-31 SC570626core:ShareCapitalcore:PreviouslyStatedAmount2022-07-31 SC570626core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-07-31 SC570626core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-07-31 SC570626core:PreviouslyStatedAmount2023-07-31 SC570626core:PreviouslyStatedAmount2022-07-31 SC570626business:SmallEntities2022-08-012023-07-31 SC570626countries:Scotland2022-08-012023-07-31 SC570626core:PlantMachinery2022-08-012023-07-31 SC570626core:FurnitureFittings2022-08-012023-07-31 SC570626core:ComputerEquipment2022-08-012023-07-31 SC570626core:BetweenOneFiveYears2023-07-31 SC570626core:BetweenOneFiveYears2022-07-31 SC5706262021-08-012022-07-31 iso4217:GBP xbrli:pure
Company Registration No. SC570626 (Scotland)
Timeless Spa and Beauty Ltd. Unaudited accounts for the year ended 31 July 2023
Timeless Spa and Beauty Ltd. Unaudited accounts Contents
Page
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Timeless Spa and Beauty Ltd. Company Information for the year ended 31 July 2023
Director
C Simpson
Company Number
SC570626 (Scotland)
Registered Office
18 Market Brae Steps Inverness IV2 3AB
Accountants
CMM Accountancy (Inverness) Limited The Green House Beechwood Business Park North Inverness IV2 3BL
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Timeless Spa and Beauty Ltd. Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,707 
6,159 
Current assets
Inventories
3,950 
3,800 
Cash at bank and in hand
4,277 
15,897 
8,227 
19,697 
Creditors: amounts falling due within one year
(11,349)
(10,070)
Net current (liabilities)/assets
(3,122)
9,627 
Total assets less current liabilities
12,585 
15,786 
Provisions for liabilities
Deferred tax
(2,884)
(1,055)
Net assets
9,701 
14,731 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
9,700 
14,730 
Shareholders' funds
9,701 
14,731 
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 16 November 2023 and were signed on its behalf by
C Simpson Director Company Registration No. SC570626
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Timeless Spa and Beauty Ltd. Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Timeless Spa and Beauty Ltd. is a private company, limited by shares, registered in Scotland, registration number SC570626. The registered office is 18 Market Brae Steps, Inverness, IV2 3AB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Timeless Spa and Beauty Ltd. Notes to the Accounts for the year ended 31 July 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 August 2022
11,977 
Additions
13,842 
At 31 July 2023
25,819 
Depreciation
At 1 August 2022
5,818 
Charge for the year
4,294 
At 31 July 2023
10,112 
Net book value
At 31 July 2023
15,707 
At 31 July 2022
6,159 
5
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 July 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
31,800 
15,600 
6
Average number of employees
During the year the average number of employees was 0 (2022: 0).
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