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Company registration number: 11148344

Beauty Independent Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Beauty Independent Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Beauty Independent Limited

Company Information

Director

Ms J Kenwright

Registered office

7 Waterside Court
St. Helens
Merseyside
WA9 1UA

Accountants

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Beauty Independent Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Beauty Independent Limited for the year ended 31 July 2023 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Beauty Independent Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Beauty Independent Limited and state those matters that we have agreed to state to the Board of Directors of Beauty Independent Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beauty Independent Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Beauty Independent Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Beauty Independent Limited. You consider that Beauty Independent Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Beauty Independent Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

BK Plus Limited
Chartered Certified Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

29 July 2024

 

Beauty Independent Limited

(Registration number: 11148344)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

11,000

17,000

Tangible assets

5

18,225

-

 

29,225

17,000

Current assets

 

Stocks

2,500

941

Debtors

6

18,382

10,000

Cash at bank and in hand

 

2,810

4,280

 

23,692

15,221

Creditors: Amounts falling due within one year

7

(39,055)

(18,415)

Net current liabilities

 

(15,363)

(3,194)

Total assets less current liabilities

 

13,862

13,806

Creditors: Amounts falling due after more than one year

7

(7,333)

(11,333)

Provisions for liabilities

(3,463)

-

Net assets

 

3,066

2,473

Capital and reserves

 

Called up share capital

1

1

Retained earnings

3,065

2,472

Shareholders' funds

 

3,066

2,473

 

Beauty Independent Limited

(Registration number: 11148344)
Balance Sheet as at 31 July 2023

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 July 2024
 

.........................................
Ms J Kenwright
Director

   
     
 

Beauty Independent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Waterside Court
St. Helens
Merseyside
WA9 1UA
England

The principal place of business is:
Bank House
The Village
Prestbury
SK10 4DG

These financial statements were authorised for issue by the director on 29 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Beauty Independent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and equipment

20% reducing balance

Office equipment

33% straightline

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Beauty Independent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

30,000

30,000

At 31 July 2023

30,000

30,000

Amortisation

At 1 August 2022

13,000

13,000

Amortisation charge

6,000

6,000

At 31 July 2023

19,000

19,000

Carrying amount

At 31 July 2023

11,000

11,000

At 31 July 2022

17,000

17,000

5

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 August 2022

-

359

359

Additions

24,300

-

24,300

At 31 July 2023

24,300

359

24,659

Depreciation

At 1 August 2022

-

359

359

Charge for the year

6,075

-

6,075

At 31 July 2023

6,075

359

6,434

Carrying amount

At 31 July 2023

18,225

-

18,225

 

Beauty Independent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

6

Debtors

2023
£

2022
£

Other debtors

18,382

10,000

18,382

10,000

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

4,000

4,000

Trade creditors

 

1,440

-

Corporation tax

 

11,308

11,011

Other creditors

 

22,307

3,404

 

39,055

18,415

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

7,333

11,333

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,333

11,333

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,000

4,000

 

Beauty Independent Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £14,400 (2022 - £Nil).

10

Related party transactions

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

Ms J Kenwright

Directors loan account

-

14,181

14,181

       
     

 

The above loan is unsecured, interest free and repayable on demand. All the figures are disclosed on an aggregate basis.