Company Registration No. 11020779 (England and Wales)
SKIN IN MOTION LTD
Unaudited accounts
for the year ended 31 October 2023
SKIN IN MOTION LTD
Unaudited accounts
Contents
SKIN IN MOTION LTD
Company Information
for the year ended 31 October 2023
Directors
HARRINGTON, Amanda Louise
LAHLOU, Sophia
MILLS, Georgina Anne Elizabeth
Company Number
11020779 (England and Wales)
Registered Office
85 Great Portland Street
1st Floor
London
W1W 7LT
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
SKIN IN MOTION LTD
Statement of financial position
as at 31 October 2023
Cash at bank and in hand
23,702
3,718
Creditors: amounts falling due within one year
(206,706)
(167,019)
Net current liabilities
(152,460)
(142,254)
Total assets less current liabilities
(152,460)
(142,254)
Creditors: amounts falling due after more than one year
(21,242)
(25,833)
Net liabilities
(173,702)
(168,087)
Called up share capital
468
461
Share premium
230,926
205,107
Profit and loss account
(405,096)
(373,655)
Shareholders' funds
(173,702)
(168,087)
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by
LAHLOU, Sophia
Director
Company Registration No. 11020779
SKIN IN MOTION LTD
Notes to the Accounts
for the year ended 31 October 2023
SKIN IN MOTION LTD is a private company, limited by shares, registered in England and Wales, registration number 11020779. The registered office is 85 Great Portland Street, 1st Floor, London, W1W 7LT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
There was a net deficiency of assets of £173,702 at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future.
Finished goods
20,613
20,421
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.
Assessment has been made at the end of the reporting period as to whether any inventories are impaired.
No impairment has been identified.
SKIN IN MOTION LTD
Notes to the Accounts
for the year ended 31 October 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
25,000
Trade creditors
20,943
9,028
Taxes and social security
346
543
Other creditors
46,642
37,650
Loans from directors
132,923
93,536
£10,000 relates to the Bounce Back Loan (interest charged at 2.5%) and £15,000 relates to a revolving credit facility account (weekly interest of £79 is paid). £20,000 relates to an interest free loan by a shareholder repayable on demand.
7
Creditors: amounts falling due after more than one year
2023
2022
£21,242 relates to the Bounce Back Loan. Interest is charged at 2.5%.
8
Transactions with related parties
A £20,000 is an interest free loan by a related party shareholder repayable on demand.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).