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REGISTERED NUMBER: SC363813 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Aspire Aesthetics Limited

Aspire Aesthetics Limited (Registered number: SC363813)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aspire Aesthetics Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mrs L Strachan
Mr N M Strachan





REGISTERED OFFICE: 3 Rose Lane
Inverurie
Aberdeenshire
AB51 3PN





REGISTERED NUMBER: SC363813 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Aspire Aesthetics Limited (Registered number: SC363813)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,625 1,820
Tangible assets 5 375,653 319,011
377,278 320,831

CURRENT ASSETS
Stocks 29,761 27,416
Debtors 6 42,562 30,825
Cash at bank and in hand 48,954 53,737
121,277 111,978
CREDITORS
Amounts falling due within one year 7 68,698 73,371
NET CURRENT ASSETS 52,579 38,607
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,857

359,438

CREDITORS
Amounts falling due after more than one
year

8

(191,573

)

(167,673

)

PROVISIONS FOR LIABILITIES (22,059 ) (13,636 )
NET ASSETS 216,225 178,129

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 216,221 178,125
216,225 178,129

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Aspire Aesthetics Limited (Registered number: SC363813)

Balance Sheet - continued
31 August 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 8 February 2024 and were signed on its behalf by:




Mrs L Strachan - Director



Mr N M Strachan - Director


Aspire Aesthetics Limited (Registered number: SC363813)

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

1. STATUTORY INFORMATION

Aspire Aesthetics Limited is a private company, limited by shares , registered in Scotland. 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.

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.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost and 20% 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.

Aspire Aesthetics Limited (Registered number: SC363813)

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

2. ACCOUNTING POLICIES - continued

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

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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022
and 31 August 2023 1,950
AMORTISATION
At 1 September 2022 130
Charge for year 195
At 31 August 2023 325
NET BOOK VALUE
At 31 August 2023 1,625
At 31 August 2022 1,820

Aspire Aesthetics Limited (Registered number: SC363813)

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

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 September 2022 201,914 79,320 74,514
Additions - 31,339 2,471
Disposals - (6,332 ) -
At 31 August 2023 201,914 104,327 76,985
DEPRECIATION
At 1 September 2022 - 33,993 17,064
Charge for year - 19,028 18,473
Eliminated on disposal - (6,332 ) -
At 31 August 2023 - 46,689 35,537
NET BOOK VALUE
At 31 August 2023 201,914 57,638 41,448
At 31 August 2022 201,914 45,327 57,450

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2022 21,548 8,816 10,045 396,157
Additions 941 102,898 837 138,486
Disposals (2,267 ) (39,816 ) (2,169 ) (50,584 )
At 31 August 2023 20,222 71,898 8,713 484,059
DEPRECIATION
At 1 September 2022 12,995 4,710 8,384 77,146
Charge for year 3,769 4,400 564 46,234
Eliminated on disposal (2,267 ) (4,710 ) (1,665 ) (14,974 )
At 31 August 2023 14,497 4,400 7,283 108,406
NET BOOK VALUE
At 31 August 2023 5,725 67,498 1,430 375,653
At 31 August 2022 8,553 4,106 1,661 319,011

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 42,562 30,825

Aspire Aesthetics Limited (Registered number: SC363813)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 18,043 18,043
Hire purchase contracts 9,440 -
Trade creditors 1,970 5,807
Taxation and social security 13,835 14,007
Other creditors 25,410 35,514
68,698 73,371

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 137,815 155,747
Hire purchase contracts 49,198 -
Other creditors 4,560 11,926
191,573 167,673

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 83,379 91,636

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Mortgage Loan 123,596 131,853

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
Mrs L Strachan
Balance outstanding at start of year (6,457 ) (5,473 )
Amounts advanced 10,745 437
Amounts repaid (4,290 ) (1,421 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (2 ) (6,457 )

Aspire Aesthetics Limited (Registered number: SC363813)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr N M Strachan
Balance outstanding at start of year (133 ) -
Amounts advanced 5,448 2
Amounts repaid (5,315 ) (135 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (133 )

11. RELATED PARTY DISCLOSURES

Included within other debtors is a balance due to the company of £38,000 (2022: £30,000) from Aspire Properties Ltd a company where both directors Mrs L Strachan and Mr N M Strachan are sole owners of.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, Ms L Strachan and Mr N M Strachan who between them own 100% of the issued share capital.