The Airbrush Company Limited
Statement of financial position
as at 30 June 2023
Tangible assets
54,114
39,472
Inventories
399,556
531,393
Cash at bank and in hand
120,035
91,461
Creditors: amounts falling due within one year
(137,975)
(233,126)
Net current assets
414,559
424,638
Total assets less current liabilities
468,673
464,110
Provisions for liabilities
Deferred tax
(6,816)
(3,943)
Net assets
461,857
460,167
Called up share capital
1,000
1,000
Profit and loss account
460,857
459,167
Shareholders' funds
461,857
460,167
For the year ending 30 June 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 15 March 2024 and were signed on its behalf by
Kenneth Medwell
Director
Company Registration No. 02714140
The Airbrush Company Limited
Notes to the Accounts
for the year ended 30 June 2023
The Airbrush Company Limited is a private company, limited by shares, registered in England and Wales, registration number 02714140. The registered office is 79 Marlborough Road, Lancing Business Park, Lancing, West Sussex, BN15 8UF.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
25% on reducing balance
Fixtures & fittings
2% on cost
Computer equipment
25% on reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2022
39,445
24,000
84,165
147,610
Additions
24,110
-
2,969
27,079
At 30 June 2023
63,555
24,000
87,134
174,689
At 1 July 2022
27,045
5,280
75,813
108,138
Charge for the year
9,127
480
2,830
12,437
At 30 June 2023
36,172
5,760
78,643
120,575
At 30 June 2023
27,383
18,240
8,491
54,114
At 30 June 2022
12,400
18,720
8,352
39,472
The Airbrush Company Limited
Notes to the Accounts
for the year ended 30 June 2023
Amounts falling due within one year
Trade debtors
26,094
26,195
Accrued income and prepayments
3,488
8,715
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
30,029
88,719
Taxes and social security
(625)
12,102
Other creditors
62,386
107,275
Loans from directors
20,920
15,347
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
8
Average number of employees
During the year the average number of employees was 8 (2022: 7).