Registered number
11647987
Beauty Healthcare Ltd
Filleted Accounts
31 October 2023
Beauty Healthcare Ltd
Registered number: 11647987
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 61,518 570
Current assets
Stocks 208,444 124,000
Debtors 4 726,001 206,607
Cash at bank and in hand 133,663 14,004
1,068,108 344,611
Creditors: amounts falling due within one year 5 (1,023,670) (261,557)
Net current assets 44,438 83,054
Total assets less current liabilities 105,956 83,624
Creditors: amounts falling due after more than one year 6 (16,713) (26,719)
Net assets 89,243 56,905
Capital and reserves
Called up share capital 1 1
Profit and loss account 89,242 56,904
Shareholder's funds 89,243 56,905
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 his 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.
Mr H Iqbal
Director
Approved by the board on 31 July 2024
Beauty Healthcare 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.
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:
Land and buildings No depreciation provided
Office equipment 25% reducing balance
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.
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 4 2
3 Tangible fixed assets
Land and buildings Office equipment Total
£ £ £
Cost
At 1 November 2022 - 1,350 1,350
Additions 60,641 600 61,241
At 31 October 2023 60,641 1,950 62,591
Depreciation
At 1 November 2022 - 780 780
Charge for the year - 293 293
At 31 October 2023 - 1,073 1,073
Net book value
At 31 October 2023 60,641 877 61,518
At 31 October 2022 - 570 570
4 Debtors 2023 2022
£ £
Trade debtors 618,358 188,502
Deferred tax asset 43 -
Other debtors 107,600 18,105
726,001 206,607
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,928 9,748
Trade creditors 911,000 163,877
Taxation and social security costs 8,550 12,837
Other creditors 94,192 75,095
1,023,670 261,557
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,713 26,719
7 Controlling party
The company is controlled by the director Mr H Iqbal, by virtue of his ownership of the entire issued share capital.
8 Other information
Beauty Healthcare Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Office No 123
321 High Road
Romford
Essex
RM6 6AX
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