1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,586 11,331 17,917 4,128 3,447 7,575 10,342 2,458 xbrli:pure xbrli:shares iso4217:GBP 09711624 2022-08-01 2023-07-31 09711624 2023-07-31 09711624 2022-07-31 09711624 2021-08-01 2022-07-31 09711624 2022-07-31 09711624 2021-07-31 09711624 bus:Director1 2022-08-01 2023-07-31 09711624 core:WithinOneYear 2023-07-31 09711624 core:WithinOneYear 2022-07-31 09711624 core:AfterOneYear 2023-07-31 09711624 core:AfterOneYear 2022-07-31 09711624 core:ShareCapital 2023-07-31 09711624 core:ShareCapital 2022-07-31 09711624 core:RetainedEarningsAccumulatedLosses 2023-07-31 09711624 core:RetainedEarningsAccumulatedLosses 2022-07-31 09711624 bus:SmallEntities 2022-08-01 2023-07-31 09711624 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 09711624 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 09711624 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 09711624 bus:FullAccounts 2022-08-01 2023-07-31 09711624 core:FurnitureFittingsToolsEquipment 2022-08-01 2023-07-31 09711624 core:FurnitureFittingsToolsEquipment 2022-07-31 09711624 core:FurnitureFittingsToolsEquipment 2023-07-31
COMPANY REGISTRATION NUMBER: 09711624
Flawless MakeUp Salon Limited
Filleted Unaudited Financial Statements
31 July 2023
Flawless MakeUp Salon Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
10,342
2,458
Current assets
Stocks
500
500
Debtors
6
3,614
4,802
Cash at bank and in hand
264
778
-------
-------
4,378
6,080
Creditors: amounts falling due within one year
7
24,528
16,700
--------
--------
Net current liabilities
20,150
10,620
--------
--------
Total assets less current liabilities
( 9,808)
( 8,162)
Creditors: amounts falling due after more than one year
8
8,120
11,000
--------
--------
Net liabilities
( 17,928)
( 19,162)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 17,929)
( 19,163)
--------
--------
Shareholders deficit
( 17,928)
( 19,162)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Flawless MakeUp Salon Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr N Williams
Director
Company registration number: 09711624
Flawless MakeUp Salon Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Pendower, 12 Hollybush Close, Glan-Llyn Road, Bradley, Wrexham, LL11 4BE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The directors consider this basis to be appropriate because of the continuing financial support provided by the directors.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover in the profit and loss account represents amounts received for the supply of cosmetic services. The company operates VAT on a flat rate basis.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans.
Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 August 2022
6,586
6,586
Additions
11,331
11,331
--------
--------
At 31 July 2023
17,917
17,917
--------
--------
Depreciation
At 1 August 2022
4,128
4,128
Charge for the year
3,447
3,447
--------
--------
At 31 July 2023
7,575
7,575
--------
--------
Carrying amount
At 31 July 2023
10,342
10,342
--------
--------
At 31 July 2022
2,458
2,458
--------
--------
6. Debtors
2023
2022
£
£
Other debtors
3,614
4,802
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,000
3,000
Trade creditors
1,565
1,347
Social security and other taxes
5,368
8,333
Other creditors
14,595
4,020
--------
--------
24,528
16,700
--------
--------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,120
11,000
-------
--------
9. Director's advances, credits and guarantees
The directors operates a current account with the company, the opening balance of which was £4,802 overdrawn (£29,935 2022) with net movement of £1,188 leading to a closing balance of £3,614 (£4,802 2022). Interest is charged at the official beneficial loan rate and the loan is repayable upon demand.