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REGISTERED NUMBER: 12726409 (England and Wales)


Financial Statements for the Year Ended 31 July 2023

for

Pal Beauty Ltd

Pal Beauty Ltd (Registered number: 12726409)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pal Beauty Ltd

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mrs Kaushika Paresh Panchal





REGISTERED OFFICE: 5 Delta Gain
Carpenders Park
Watford
WD19 5BL





REGISTERED NUMBER: 12726409 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Pal Beauty Ltd (Registered number: 12726409)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,882 23,882
Tangible assets 5 14,146 10,911
38,028 34,793

CURRENT ASSETS
Stocks 1,607 1,512
Debtors 6 3,770 3,820
Cash at bank and in hand 3,577 4,130
8,954 9,462
CREDITORS
Amounts falling due within one year 7 24,219 32,026
NET CURRENT LIABILITIES (15,265 ) (22,564 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,763

12,229

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 22,663 12,129
SHAREHOLDERS' FUNDS 22,763 12,229

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

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

The director acknowledges her 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.

Pal Beauty Ltd (Registered number: 12726409)

Statement of Financial Position - continued
31 July 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





Mrs Kaushika Paresh Panchal - Director


Pal Beauty Ltd (Registered number: 12726409)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

Pal Beauty Ltd 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 represents gross sales of invoiced goods and services including Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 23,882
NET BOOK VALUE
At 31 July 2023 23,882
At 31 July 2022 23,882

Pal Beauty Ltd (Registered number: 12726409)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 1 16,260 16,261
Additions - 7,950 7,950
At 31 July 2023 1 24,210 24,211
DEPRECIATION
At 1 August 2022 - 5,350 5,350
Charge for year - 4,715 4,715
At 31 July 2023 - 10,065 10,065
NET BOOK VALUE
At 31 July 2023 1 14,145 14,146
At 31 July 2022 1 10,910 10,911

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 1,740 1,740
Other debtors 2,030 2,080
3,770 3,820

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Taxation and social security 1,834 448
Other creditors 22,385 31,578
24,219 32,026

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100