Company registration number 14165178 (England and Wales)
CLOUD 9 AESTHETICS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
CLOUD 9 AESTHETICS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
CLOUD 9 AESTHETICS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 JUNE 2023
30 June 2023
- 1 -
2023
Notes
£
£
Fixed assets
Intangible assets
4
58,500
Tangible assets
5
37,477
95,977
Current assets
Stocks
2,300
Debtors
1,302
Cash at bank and in hand
632
4,234
Creditors: amounts falling due within one year
(156,645)
Net current liabilities
(152,411)
Total assets less current liabilities
(56,434)
Creditors: amounts falling due after more than one year
(9,973)
Net liabilities
(66,407)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(66,507)
Total equity
(66,407)

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

CLOUD 9 AESTHETICS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
30 JUNE 2023
30 June 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 7 March 2024
L Evans
Director
Company registration number 14165178 (England and Wales)
CLOUD 9 AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 3 -
1
Accounting policies
Company information

Cloud 9 Aesthetics Limited is a private company limited by shares incorporated in England and Wales. The registered office is 101 Sweet Bay Crescent, Ashford, Kent, TN23 3HL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
20% reducing balance
Fixtures and fittings
20% straight line
Computers
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

CLOUD 9 AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CLOUD 9 AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
2
4
Intangible fixed assets
Total
£
Cost
At 10 June 2022
-
0
Additions
65,000
At 30 June 2023
65,000
Amortisation and impairment
At 10 June 2022
-
0
Amortisation charged for the period
6,500
At 30 June 2023
6,500
Carrying amount
At 30 June 2023
58,500
5
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 10 June 2022
-
0
-
0
-
0
-
0
Additions
46,024
320
502
46,846
At 30 June 2023
46,024
320
502
46,846
Depreciation and impairment
At 10 June 2022
-
0
-
0
-
0
-
0
Depreciation charged in the period
9,205
64
100
9,369
At 30 June 2023
9,205
64
100
9,369
Carrying amount
At 30 June 2023
36,819
256
402
37,477
CLOUD 9 AESTHETICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 6 -
6
Related party transactions

Included within other creditors is an amount owed to Sovereign Business Equipment Limited for £147,661 of which the director is also a director of.

7
Directors' transactions

Dividends totalling £0 were paid in the period in respect of shares held by the company's directors.

Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
L Evans -
-
100
(113)
(13)
-
100
(113)
(13)
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