Acorah Software Products - Accounts Production 15.0.600 false true 31 January 2023 1 February 2022 false 1 February 2023 31 January 2024 31 January 2024 12684331 Ms Claire Williams Ms Sarah Brown Mr Christopher Spooner Mr George Spooner iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12684331 2023-01-31 12684331 2024-01-31 12684331 2023-02-01 2024-01-31 12684331 frs-core:CurrentFinancialInstruments 2024-01-31 12684331 frs-core:Non-currentFinancialInstruments 2024-01-31 12684331 frs-core:ComputerEquipment 2024-01-31 12684331 frs-core:ComputerEquipment 2023-02-01 2024-01-31 12684331 frs-core:ComputerEquipment 2023-01-31 12684331 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-01 2024-01-31 12684331 frs-core:OtherResidualIntangibleAssets 2024-01-31 12684331 frs-core:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 12684331 frs-core:OtherResidualIntangibleAssets 2023-01-31 12684331 frs-core:PlantMachinery 2024-01-31 12684331 frs-core:PlantMachinery 2023-02-01 2024-01-31 12684331 frs-core:PlantMachinery 2023-01-31 12684331 frs-core:ShareCapital 2024-01-31 12684331 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31 12684331 frs-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12684331 frs-bus:FilletedAccounts 2023-02-01 2024-01-31 12684331 frs-bus:SmallEntities 2023-02-01 2024-01-31 12684331 frs-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12684331 frs-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 12684331 frs-bus:Director1 2023-02-01 2024-01-31 12684331 frs-bus:Director2 2023-02-01 2024-01-31 12684331 frs-bus:Director3 2023-02-01 2024-01-31 12684331 frs-bus:Director4 2023-02-01 2024-01-31 12684331 frs-countries:EnglandWales 2023-02-01 2024-01-31 12684331 2022-01-31 12684331 2023-01-31 12684331 2022-02-01 2023-01-31 12684331 frs-core:CurrentFinancialInstruments 2023-01-31 12684331 frs-core:Non-currentFinancialInstruments 2023-01-31 12684331 frs-core:ShareCapital 2023-01-31 12684331 frs-core:RetainedEarningsAccumulatedLosses 2023-01-31
Registered number: 12684331
CIRCA SKIN LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
Wilkie Randall Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12684331
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,371 1,969
Tangible Assets 5 3,701 1,302
5,072 3,271
CURRENT ASSETS
Stocks 6 452,531 302,340
Debtors 7 330,591 259,075
Cash at bank and in hand 39,449 53,367
822,571 614,782
Creditors: Amounts Falling Due Within One Year 8 (481,862 ) (159,870 )
NET CURRENT ASSETS (LIABILITIES) 340,709 454,912
TOTAL ASSETS LESS CURRENT LIABILITIES 345,781 458,183
Creditors: Amounts Falling Due After More Than One Year 9 (3,655 ) (24,587 )
NET ASSETS 342,126 433,596
CAPITAL AND RESERVES
Called up share capital 10 200 200
Profit and Loss Account 341,926 433,396
SHAREHOLDERS' FUNDS 342,126 433,596
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For the year ending 31 January 2024 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
Ms Claire Williams
Director
28/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
CIRCA SKIN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 12684331 . The registered office is 70 Curzon Road, London, W5 1NF.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are domain names. They are amortised to profit and loss account over the 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:
Plant & Machinery straight line over 4 years
Computer Equipment straight line over 2 years
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. 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.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 3)
8 3
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 2,990
As at 31 January 2024 2,990
Amortisation
As at 1 February 2023 1,021
Provided during the period 598
As at 31 January 2024 1,619
Net Book Value
As at 31 January 2024 1,371
As at 1 February 2023 1,969
5. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 620 3,206 3,826
Additions 1,391 2,853 4,244
As at 31 January 2024 2,011 6,059 8,070
...CONTINUED
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Page 5
Depreciation
As at 1 February 2023 180 2,344 2,524
Provided during the period 304 1,541 1,845
As at 31 January 2024 484 3,885 4,369
Net Book Value
As at 31 January 2024 1,527 2,174 3,701
As at 1 February 2023 440 862 1,302
6. Stocks
2024 2023
£ £
Finished goods 452,531 302,340
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 221,232 258,546
Prepayments and accrued income 91,144 -
Other debtors 332 529
VAT 17,856 -
Net wages 27 -
330,591 259,075
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 329,627 19,042
Bank loans and overdrafts 20,932 19,323
Corporation tax 3,307 46,950
Other taxes and social security 7,107 1,742
VAT - 8,657
Other creditors 98,328 58,556
Accruals and deferred income 17,400 5,600
Directors' loan accounts 5,161 -
481,862 159,870
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 3,655 24,587
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
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