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Registration number: 09235316


Total Beauty Network (UK) Limited

Directors' Report and Unaudited Financial Statements

for the Year Ended 30 September 2022

 

Total Beauty Network (UK) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Total Beauty Network (UK) Limited

Company Information

Director

Mr A Rechtman

Registered office

C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

Accountants

Howsons
Chartered Accountants
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

 

Total Beauty Network (UK) Limited

(Registration number: 09235316)
Balance Sheet as at 30 September 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,755

3,286

Current assets

 

Stocks

5

570,280

281,834

Debtors

6

218,864

181,011

Cash at bank and in hand

 

222,212

160,455

 

1,011,356

623,300

Creditors: Amounts falling due within one year

7

(740,404)

(339,258)

Net current assets

 

270,952

284,042

Net assets

 

272,707

287,328

Capital and reserves

 

Called up share capital

1

1

Retained earnings

272,706

287,327

Shareholders' funds

 

272,707

287,328

For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of Financial Reporting Standard 102 (FRS 102) Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 December 2023
 

.........................................
Mr A Rechtman
Director

 

Total Beauty Network (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Howsons
Winton House
Stoke Road
Stoke on Trent
Staffordshire
ST4 2RW

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's presentational currency is pound sterling (£). The accounts are rounded to the nearest whole pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Total Beauty Network (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

Asset class

Depreciation method and rate

Office equipment

33% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
Basic financial liabilities, including trade and other trade creditors, bank and other loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

 Recognition and measurement
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit and loss.

 Impairment
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised in the profit or loss.

Financial assets are derecognised when a) the contractual rights to the cash flows from the asset expire or are settled, or b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2021 - 4).

 

Total Beauty Network (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 October 2021

4,640

4,640

At 30 September 2022

4,640

4,640

Depreciation

At 1 October 2021

1,354

1,354

Charge for the year

1,531

1,531

At 30 September 2022

2,885

2,885

Carrying amount

At 30 September 2022

1,755

1,755

At 30 September 2021

3,286

3,286

5

Stocks

2022
£

2021
£

Other inventories

570,280

281,834

 

Total Beauty Network (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

6

Debtors

Note

2022
£

2021
£

Trade debtors

 

206,638

156,166

Amounts owed by related parties

1

1

Prepayments

 

4,320

668

Other debtors

 

7,905

24,176

   

218,864

181,011

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

 

Trade creditors

 

105,932

82,342

Taxation and social security

 

49,638

10,195

Other creditors

 

584,834

246,721

 

740,404

339,258

8

Going Concern

The accounts have been prepared on a going concern basis. The company has made a loss in the year, mainly due to the increased distribution costs in the year. However, the company is continuing to be supported by the shareholders.