Registered number
08726192
VIE Aesthetics Ltd
Unaudited Filleted Accounts
31 October 2023
VIE Aesthetics Ltd
Registered number: 08726192
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 294,929 388,279
Current assets
Stocks 19,775 15,200
Debtors 4 164,762 144,262
Cash at bank and in hand 5,339 21,167
189,876 180,629
Creditors: amounts falling due within one year 5 (269,719) (213,040)
Net current liabilities (79,843) (32,411)
Total assets less current liabilities 215,086 355,868
Creditors: amounts falling due after more than one year 6 (170,789) (236,740)
Net assets 44,297 119,128
Capital and reserves
Called up share capital 100 100
Profit and loss account 44,197 119,028
Shareholder's funds 44,297 119,128
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs Vasiliki Grammatikopoulou
Director
Approved by the board on 18 July 2024
VIE Aesthetics Ltd
Notes to the Accounts
for the year ended 31 October 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 10 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 12 13
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 November 2022 7,615 671,559 679,174
Additions - 532 532
At 31 October 2023 7,615 672,091 679,706
Depreciation
At 1 November 2022 2,283 288,612 290,895
Charge for the year 761 93,121 93,882
At 31 October 2023 3,044 381,733 384,777
Net book value
At 31 October 2023 4,571 290,358 294,929
At 31 October 2022 5,332 382,947 388,279
4 Debtors 2023 2022
£ £
Trade debtors 7,000 13,846
Deferred tax asset 67,388 47,777
Other debtors 90,374 82,639
164,762 144,262
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 107,464 55,433
Obligations under finance lease and hire purchase contracts 39,582 45,241
Trade creditors 16,708 16,427
Taxation and social security costs 2,286 7,340
Other creditors 103,679 88,599
269,719 213,040
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 108,733 137,262
Obligations under finance lease and hire purchase contracts 62,056 99,478
170,789 236,740
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 128,348 184,167
8 Related party transactions
The director and her spouse are the freehold owners of one of the premises that the business occupies. During the year the company has paid rent to the director and her spouse for their freehold interest amounting to £42,000 (2022 £42,000). The director during the year has provided an interest free loan to the company amounting to £32,119 which has remained outstanding at the year end.
9 Other information
VIE Aesthetics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Barnard House
78 London Hill
Rayleigh
Essex
SS6 7HP
VIE Aesthetics Ltd 08726192 false 2022-11-01 2023-10-31 2023-10-31 VT Final Accounts April 2024 Mrs Vasiliki Grammatikopoulou No description of principal activity 08726192 2021-11-01 2022-10-31 08726192 core:WithinOneYear 2022-10-31 08726192 core:AfterOneYear 2022-10-31 08726192 core:ShareCapital 2022-10-31 08726192 core:RetainedEarningsAccumulatedLosses 2022-10-31 08726192 core:AllPeriods 2022-10-31 08726192 2022-11-01 2023-10-31 08726192 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 08726192 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 08726192 bus:Director40 2022-11-01 2023-10-31 08726192 1 2022-11-01 2023-10-31 08726192 2 2022-11-01 2023-10-31 08726192 core:LandBuildings 2022-11-01 2023-10-31 08726192 core:PlantMachinery 2022-11-01 2023-10-31 08726192 countries:England 2022-11-01 2023-10-31 08726192 bus:FRS102 2022-11-01 2023-10-31 08726192 bus:FilletedAccounts 2022-11-01 2023-10-31 08726192 2023-10-31 08726192 core:WithinOneYear 2023-10-31 08726192 core:AfterOneYear 2023-10-31 08726192 core:ShareCapital 2023-10-31 08726192 core:RetainedEarningsAccumulatedLosses 2023-10-31 08726192 core:LandBuildings 2023-10-31 08726192 core:PlantMachinery 2023-10-31 08726192 core:AllPeriods 2023-10-31 08726192 2022-10-31 08726192 core:LandBuildings 2022-10-31 08726192 core:PlantMachinery 2022-10-31 iso4217:GBP xbrli:pure