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REGISTERED NUMBER: 09899073 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Hollywood Nails & Beauty Supplies Ltd

Hollywood Nails & Beauty Supplies Ltd (Registered number: 09899073)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hollywood Nails & Beauty Supplies Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: M H Chau
C T Dinh
J Chau





REGISTERED OFFICE: 29A Peckham High Street
London
SE15 5EB





REGISTERED NUMBER: 09899073 (England and Wales)






Hollywood Nails & Beauty Supplies Ltd (Registered number: 09899073)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,504 137,012

CURRENT ASSETS
Stocks 5 401,692 336,093
Debtors 6 547,511 566,403
Cash at bank and in hand 1,049,125 1,038,480
1,998,328 1,940,976
CREDITORS
Amounts falling due within one year 7 374,041 439,040
NET CURRENT ASSETS 1,624,287 1,501,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,759,791

1,638,948

CAPITAL AND RESERVES
Called up share capital 8 4 4
Retained earnings 1,759,787 1,638,944
SHAREHOLDERS' FUNDS 1,759,791 1,638,948

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 August 2024 and were signed on its behalf by:



J Chau - Director


Hollywood Nails & Beauty Supplies Ltd (Registered number: 09899073)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Hollywood Nails & Beauty Supplies Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery 20% reducing balance
Fixtures and fittings 20% reducing balance
Motor vehicles 20% reducing balance
Computer Equipment 20% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
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.


Hollywood Nails & Beauty Supplies Ltd (Registered number: 09899073)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Hollywood Nails & Beauty Supplies Ltd (Registered number: 09899073)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 11 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 December 2022 128,144 11,829 49,172
Additions - 9,685 8,633
At 30 November 2023 128,144 21,514 57,805
DEPRECIATION
At 1 December 2022 54,258 8,681 26,540
Charge for year 7,389 2,566 6,253
At 30 November 2023 61,647 11,247 32,793
NET BOOK VALUE
At 30 November 2023 66,497 10,267 25,012
At 30 November 2022 73,886 3,148 22,632

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 68,410 7,953 265,508
Additions - 4,814 23,132
At 30 November 2023 68,410 12,767 288,640
DEPRECIATION
At 1 December 2022 35,266 3,751 128,496
Charge for year 6,629 1,803 24,640
At 30 November 2023 41,895 5,554 153,136
NET BOOK VALUE
At 30 November 2023 26,515 7,213 135,504
At 30 November 2022 33,144 4,202 137,012

5. STOCKS
30.11.23 30.11.22
£    £   
Stocks 401,692 336,093

Hollywood Nails & Beauty Supplies Ltd (Registered number: 09899073)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 13,208 15,082
Amounts owed by associates 503,930 503,930
Other debtors 30,373 47,391
547,511 566,403

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 173,623 343,265
Taxation and social security 200,418 87,775
Other creditors - 8,000
374,041 439,040

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
4 Ordinary Shares £1 4 4

9. RELATED PARTY DISCLOSURES

Chau Commercial Group Ltd
During the year under review, the company had loans due by Chau Commercial Group Ltd, company with common directorship, in the amount of £503,930 at the balance sheet date. The loans are unsecured, interest free and repayable on demand.