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Registered number: 11000096
Cosmetify Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Ecommerce Accountants LLP
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11000096
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 4,140 2,243
4,140 2,243
CURRENT ASSETS
Debtors 6 3,127 -
Cash at bank and in hand 30,291 29,641
33,418 29,641
Creditors: Amounts Falling Due Within One Year 7 (4,878,348 ) (4,138,340 )
NET CURRENT ASSETS (LIABILITIES) (4,844,930 ) (4,108,699 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,840,790 ) (4,106,456 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (426 )
NET LIABILITIES (4,840,790 ) (4,106,882 )
CAPITAL AND RESERVES
Called up share capital 8 150 150
Profit and Loss Account (4,840,940 ) (4,107,032 )
SHAREHOLDERS' FUNDS (4,840,790) (4,106,882)
Page 1
Page 2
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Matthew Davies
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cosmetify Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11000096 . The registered office is Unit 113, 154-160 Fleet Street, London, EC4A 2DQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Over term of the lease.
Plant & Machinery Straight line basis over 3 years.
Fixtures & Fittings Straight line basis over 3 years.
Computer Equipment Straight line basis over 3 years.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
2.7. Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 11)
10 11
Page 3
Page 4
4. Intangible Assets
Other
£
Cost
As at 1 November 2022 51,263
As at 31 October 2023 51,263
Amortisation
As at 1 November 2022 51,263
As at 31 October 2023 51,263
Net Book Value
As at 31 October 2023 -
As at 1 November 2022 -
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 November 2022 75,203 2,083 77,286
Additions - 3,622 3,622
As at 31 October 2023 75,203 5,705 80,908
Depreciation
As at 1 November 2022 74,754 289 75,043
Provided during the period 449 1,276 1,725
As at 31 October 2023 75,203 1,565 76,768
Net Book Value
As at 31 October 2023 - 4,140 4,140
As at 1 November 2022 449 1,794 2,243
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 3,127 -
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Other creditors 4,857,145 4,112,803
Taxation and social security 21,203 25,537
4,878,348 4,138,340
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Page 5
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 150 150
Page 5