Registered number
NI632302
Younique Aesthetics Ltd
Filleted Accounts
31 July 2023
Younique Aesthetics Ltd
Registered number: NI632302
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 99,435 18,150
Current assets
Stocks 36,030 40,000
Debtors 4 151,327 140,531
Cash at bank and in hand 1,846 1,113
189,203 181,644
Creditors: amounts falling due within one year 5 (161,252) (100,029)
Net current assets 27,951 81,615
Total assets less current liabilities 127,386 99,765
Creditors: amounts falling due after more than one year 6 (29,191) (39,013)
Net assets 98,195 60,752
Capital and reserves
Called up share capital 2 2
Profit and loss account 98,193 60,750
Shareholders' funds 98,195 60,752
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Aine Larkin
Director
Approved by the board on 19 October 2023
Younique Aesthetics Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 11 13
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022 37,338
Additions 85,515
At 31 July 2023 122,853
Depreciation
At 1 August 2022 19,188
Charge for the year 4,230
At 31 July 2023 23,418
Net book value
At 31 July 2023 99,435
At 31 July 2022 18,150
4 Debtors 2023 2022
£ £
Other debtors 151,327 140,531
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 123,451 77,314
Taxation and social security costs 17,518 9,758
Other creditors 20,283 12,957
161,252 100,029
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,191 39,013
7 Other information
Younique Aesthetics Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
26 Monaghan Street
Newry
Co Down
BT35 6AA
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