Beauty Base On-Line Limited 06214583 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is of online retailers of perfumes, cosmetics and beauty products. Digita Accounts Production Advanced 6.30.9574.0 true true 06214583 2023-01-01 2023-12-31 06214583 2023-12-31 06214583 bus:OrdinaryShareClass1 2023-12-31 06214583 core:CurrentFinancialInstruments 2023-12-31 06214583 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06214583 core:OtherPropertyPlantEquipment 2023-12-31 06214583 bus:SmallEntities 2023-01-01 2023-12-31 06214583 bus:Audited 2023-01-01 2023-12-31 06214583 bus:FilletedAccounts 2023-01-01 2023-12-31 06214583 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06214583 bus:RegisteredOffice 2023-01-01 2023-12-31 06214583 bus:Director1 2023-01-01 2023-12-31 06214583 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06214583 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06214583 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06214583 core:PlantMachinery 2023-01-01 2023-12-31 06214583 countries:AllCountries 2023-01-01 2023-12-31 06214583 2022-12-31 06214583 core:OtherPropertyPlantEquipment 2022-12-31 06214583 2022-01-01 2022-12-31 06214583 2022-12-31 06214583 bus:OrdinaryShareClass1 2022-12-31 06214583 core:CurrentFinancialInstruments 2022-12-31 06214583 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06214583 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06214583

Beauty Base On-Line Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

Beauty Base On-Line Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 6

 

Beauty Base On-Line Limited

Company Information

Director

Mrs T P Jacobs

Registered office

Unit 13
Space Business Park
Abbey Road
London
NW10 7SU

Auditors

Cameron & Associates Limited
The Hour House
32 High Street
Rickmansworth
Hertfordshire
WD3 1ER

 

Beauty Base On-Line Limited

(Registration number: 06214583)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

571

711

Current assets

 

Stocks

92,748

58,370

Debtors

5

264,395

241,456

Cash at bank and in hand

 

730,400

472,763

 

1,087,543

772,589

Creditors: Amounts falling due within one year

6

(233,052)

(262,825)

Net current assets

 

854,491

509,764

Total assets less current liabilities

 

855,062

510,475

Provisions for liabilities

(141)

(135)

Net assets

 

854,921

510,340

Capital and reserves

 

Called up share capital

7

510

510

Capital redemption reserve

490

490

Retained earnings

853,921

509,340

Shareholders' funds

 

854,921

510,340

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 July 2024
 

.........................................
Mrs T P Jacobs
Director

 

Beauty Base On-Line Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 13
Space Business Park
Abbey Road
London
NW10 7SU

These financial statements were authorised for issue by the director on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 31 July 2024 was Rajinder Basra, who signed for and on behalf of Cameron & Associates Limited.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Beauty Base On-Line Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2022 - 2).

 

Beauty Base On-Line Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible Assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

1,895

1,895

Additions

50

50

At 31 December 2023

1,945

1,945

Depreciation

At 1 January 2023

1,184

1,184

Charge for the year

190

190

At 31 December 2023

1,374

1,374

Carrying amount

At 31 December 2023

571

571

At 31 December 2022

711

711

5

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

-

15,845

Amounts owed by related parties

8

226,283

210,427

Other debtors

 

38,112

15,184

   

264,395

241,456

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

16

45

Amounts owed to group undertakings

8

52,455

70,376

Taxation and social security

 

176,381

59,040

Accruals and deferred income

 

4,200

133,167

Other creditors

 

-

197

 

233,052

262,825

 

Beauty Base On-Line Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

         

8

Related party transactions

Beauty Base Limited is the parent company of Beauty Base On-Line Limited by virtue of the fact that it owns 100% of the issued share capital of the Company.

Beauty Base On-Line Limited sold goods to the value of £25,564 (2022: £20,171) to Beauty Base Limited during the year. Beauty Base On-Line Limited also bought goods to the value of £1,740,094 (2022: £925,018) from Beauty Base Limited during the year.

At the year-end, Beauty Base On-Line Limited owed £52,455 (2022: £70,376) to Beauty Base Limited in relation to goods purchased. Also at the year end, Beauty Base On-Line was owed £16,283 (2022: £427) from Beauty Base Limited in relation to goods sold.

Beauty Base On-Line Limited was charged £37,500 (2022: £129,167), in respect of rent and service charges, by Beauty Base Limited, and no amount was outstanding at the year-end (2022: £Nil).

Beauty Base Limited borrowed from Beauty Base On-Line Limited and at the year-end, the outstanding balance owed by Beauty Base Limited was £210,000 (2022: £210,000) which, is repayable on demand.