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REGISTERED NUMBER: 11504352 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LASE COSMETIC LIMITED

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LASE COSMETIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: L Ali-Khan
A Ali-Khan





REGISTERED OFFICE: Haughmond House
Aykley Heads Farm
Aykley Heads
Durham City
DH1 5AN





REGISTERED NUMBER: 11504352 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 168,196 179,011

CURRENT ASSETS
Stocks 12,500 12,500
Debtors 5 42,147 15,827
Cash at bank 8,302 15,150
62,949 43,477
CREDITORS
Amounts falling due within one year 6 563,278 623,103
NET CURRENT LIABILITIES (500,329 ) (579,626 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(332,133

)

(400,615

)

CREDITORS
Amounts falling due after more than one
year

7

85,206

23,991
NET LIABILITIES (417,339 ) (424,606 )

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings (417,349 ) (424,616 )
SHAREHOLDERS' FUNDS (417,339 ) (424,606 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 August 2024 and were signed on its behalf by:





A Ali-Khan - Director


LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

LASE Cosmetic Limited 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 10% on cost

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 Statement of Income and Retained Earnings, 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
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 308,076
Additions 24,634
Disposals (14,565 )
At 31 March 2024 318,145
DEPRECIATION
At 1 April 2023 129,065
Charge for year 31,601
Eliminated on disposal (10,717 )
At 31 March 2024 149,949
NET BOOK VALUE
At 31 March 2024 168,196
At 31 March 2023 179,011

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 14,565
Additions 24,634
Disposals (14,565 )
At 31 March 2024 24,634
DEPRECIATION
At 1 April 2023 9,701
Charge for year 2,026
Eliminated on disposal (10,717 )
At 31 March 2024 1,010
NET BOOK VALUE
At 31 March 2024 23,624
At 31 March 2023 4,864

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 35,935 8,824
Other debtors 6,212 7,003
42,147 15,827

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 9,099 8,862
Hire purchase contracts (see note 8) 3,326 5,886
Trade creditors 73,803 79,634
Taxation and social security 1,571 1,389
Other creditors 475,479 527,332
563,278 623,103

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 14,892 23,991
Hire purchase contracts (see note 8) 14,358 -
Other creditors 55,956 -
85,206 23,991

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 3,326 5,886
Between one and five years 14,358 -
17,684 5,886

Non-cancellable operating leases
2024 2023
£    £   
Within one year 55,049 91,259
Between one and five years 204,692 206,068
In more than five years 12,793 51,173
272,534 348,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 17,684 5,886
Other loans 68,097 30,126
85,781 36,012

The above Other loans are secured on Tangible Fixed Assets owned by the company, excluding those held under Hire Purchase contracts.

The hire purchase contracts are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £0.01 10 10

LASE COSMETIC LIMITED (REGISTERED NUMBER: 11504352)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. RELATED PARTY DISCLOSURES

During the year the directors provided the company with an interest free loan. At 31 March 2024 the balance of the loan was £201,596 (2023: £274,147).

During the year the company received loan finance (represented by direct cash borrowings as well as expenses borne on its behalf) from a company related by common directors / shareholders. This loan is interest free and repayable on demand. At 31 March 2024 the balance of the loan was £248,216 (2023: £210,716). During the year the company recharged a related company for services of directors and associated costs on what the directors have assessed as market terms (£40,000, 2022/23 - £30,000).