Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Retail sale of cosmetic and toilet articles in specialised stores2023-01-01false56truetrue 11252937 2023-01-01 2023-12-31 11252937 2022-01-01 2022-12-31 11252937 2023-12-31 11252937 2022-12-31 11252937 c:Director2 2023-01-01 2023-12-31 11252937 d:FurnitureFittings 2023-01-01 2023-12-31 11252937 d:FurnitureFittings 2023-12-31 11252937 d:FurnitureFittings 2022-12-31 11252937 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11252937 d:ComputerEquipment 2023-01-01 2023-12-31 11252937 d:ComputerEquipment 2023-12-31 11252937 d:ComputerEquipment 2022-12-31 11252937 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11252937 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 11252937 d:OtherPropertyPlantEquipment 2023-12-31 11252937 d:OtherPropertyPlantEquipment 2022-12-31 11252937 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11252937 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11252937 d:CurrentFinancialInstruments 2023-12-31 11252937 d:CurrentFinancialInstruments 2022-12-31 11252937 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11252937 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11252937 d:ShareCapital 2023-12-31 11252937 d:ShareCapital 2022-12-31 11252937 d:RetainedEarningsAccumulatedLosses 2023-12-31 11252937 d:RetainedEarningsAccumulatedLosses 2022-12-31 11252937 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 11252937 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 11252937 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11252937 c:OrdinaryShareClass1 2023-12-31 11252937 c:OrdinaryShareClass1 2022-12-31 11252937 c:FRS102 2023-01-01 2023-12-31 11252937 c:Audited 2023-01-01 2023-12-31 11252937 c:FullAccounts 2023-01-01 2023-12-31 11252937 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11252937 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11252937









APOTHECA BEAUTY CO. LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
APOTHECA BEAUTY CO. LTD
REGISTERED NUMBER: 11252937

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
89,854
111,199

  
89,854
111,199

Current assets
  

Stocks
  
182,898
221,898

Debtors: amounts falling due within one year
 5 
410,035
373,360

Cash at bank and in hand
  
12,558
95,323

  
605,491
690,581

Creditors: amounts falling due within one year
 6 
(598,344)
(714,424)

Net current assets/(liabilities)
  
 
 
7,147
 
 
(23,843)

Total assets less current liabilities
  
97,001
87,356

Provisions for liabilities
  

Deferred tax
 7 
(20,593)
(14,533)

  
 
 
(20,593)
 
 
(14,533)

Net assets
  
76,408
72,823


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
76,407
72,822

  
76,408
72,823


Page 1

 
APOTHECA BEAUTY CO. LTD
REGISTERED NUMBER: 11252937
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N Alramadhan
Director

Date: 19 March 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Apotheca Beauty Co. Limited is a private company limited by shares and is registered and incorporated in England and Wales. The registered office is 1 Park Row, Leeds, LS1 5AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
In the year ended 31 December 2023, the company generated a profit before tax of £3,585 (2022: £40,371) and at the balance sheet date, there were net assets of £76,408 (2022: net assets £72,823).
The company is funded by its ultimate parent company and this company has confirmed that it will continue to provide sufficient support to ensure that the company will be able to pay its commitments and liabilities as they fall due so that the company is able to continue to trade. This commitment is for a period of at least twelve months from the approval of these financial statements. 
Due to further support from the parent company, the directors believe at the time of signing these financial statements that they should be prepared on a going concern basis.

Page 3

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 4

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
Straight Line
Computer equipment
-
33%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Assets in the course of construction are not depreciated.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, 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.
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 the Statement of Income and Retained Earnings.
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 aretransferred 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.
(ii) Financial liabilities
Basic financial liabilities, including trade [and other] creditors and accruals, 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

 
Page 7

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 6).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Assets under construction
Total

£
£
£
£



Cost or valuation


At 1 January 2023
321,797
2,566
34,475
358,838


Additions
17,155
-
-
17,155


Transfers between classes
34,475
-
(34,475)
-



At 31 December 2023

373,427
2,566
-
375,993



Depreciation


At 1 January 2023
245,549
2,090
-
247,639


Charge for the year on owned assets
38,323
177
-
38,500



At 31 December 2023

283,872
2,267
-
286,139



Net book value



At 31 December 2023
89,555
299
-
89,854



At 31 December 2022
76,248
476
34,475
111,199

Page 8

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


rade debtors
241,231
186,510

Amounts owed by group undertakings
162,804
179,878

Other debtors
6,000
6,000

Prepayments and accrued income
-
972

410,035
373,360



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,510
207,256

Amounts owed to group undertakings
573,048
481,807

Corporation tax
-
53

Other taxation and social security
86
13,758

Accruals and deferred income
12,700
11,550

598,344
714,424



7.


Deferred taxation




2023


£






At beginning of year
(14,535)


Charged to profit or loss
(6,060)



At end of year
(20,595)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(20,595)
(14,533)

(20,595)
(14,533)

Page 9

 
APOTHECA BEAUTY CO. LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary Shares share of £1.00
1
1



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the reporting date and are included in creditors.


10.


Related party transactions

The company has taken exemption from disclosing related party transactions between wholly owned companies in the group.


11.


Controlling party

Apotheca General Trading One Person Company LLC is the smallest group for which consolidated accounts including Apotheca Beauty Co. Limited are prepared. The principal place of business of Apotheca General Trading One Person Company LLC is Dubai Design District, D3, Floor 1st, Office #B103, Dubai, UAE.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 19 March 2024 by Ian Saunderson (Senior statutory auditor) on behalf of BKL Audit LLP.

 
Page 10