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Registered number: 10209595
Cambridge Clear Beauty Limited
Unaudited Financial Statements
For The Year Ended 30 June 2023
Modus Accountants Ltd
Unit 1c Church Green
Witney
OX28 4YR
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 10209595
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 370,982 58,068
370,982 58,068
CURRENT ASSETS
Debtors 5 44,695 50,800
Cash at bank and in hand 137,791 435,908
182,486 486,708
Creditors: Amounts Falling Due Within One Year 6 (33,707 ) (93,958 )
NET CURRENT ASSETS (LIABILITIES) 148,779 392,750
TOTAL ASSETS LESS CURRENT LIABILITIES 519,761 450,818
Creditors: Amounts Falling Due After More Than One Year 7 (29,167 ) (39,167 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (28,884 ) (11,164 )
NET ASSETS 461,710 400,487
CAPITAL AND RESERVES
Called up share capital 8 1 1
Income Statement 461,709 400,486
SHAREHOLDERS' FUNDS 461,710 400,487
Page 1
Page 2
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 member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
T Ahmad
Director
26 March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cambridge Clear Beauty Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10209595 . The registered office is Unit 1c Eagle Industrial Estate, Church Green, Witney, Oxfordshire, OX28 4YR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight Line
Plant & Machinery 10% Straight Line
Fixtures & Fittings 10% Straight Line
Computer Equipment 33% Straight Line
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 3)
5 3
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2022 - 75,798 2,577 7,864 86,239
Additions 310,967 - 77,081 7,073 395,121
As at 30 June 2023 310,967 75,798 79,658 14,937 481,360
Depreciation
As at 1 July 2022 - 22,704 516 4,951 28,171
Provided during the period 62,193 7,579 7,966 4,469 82,207
As at 30 June 2023 62,193 30,283 8,482 9,420 110,378
Net Book Value
As at 30 June 2023 248,774 45,515 71,176 5,517 370,982
As at 1 July 2022 - 53,094 2,061 2,913 58,068
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 918 2,122
Prepayments and accrued income 19,777 19,183
Other debtors 24,000 29,495
44,695 50,800
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors - 1
Other creditors 27,872 21,097
Taxation and social security 5,835 72,860
33,707 93,958
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 29,167 39,167
29,167 39,167
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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9. Directors Advances, Credits and Guarantees
As at the year end, the company owed the director, Mr Ahmad Tariq, £14,162.61 (2022: £18,782.71) by way of directors loan.
The above loan is unsecured, interest free and repayable on demand.
10. Ultimate Controlling Party
The company's ultimate controlling party is T Ahmad by virtue of his ownership of 100% of the issued share capital in the company.
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