Registered number
14718171
Finishing Touches Beauty School Limited
Filleted Accounts
31 March 2024
Finishing Touches Beauty School Limited
Registered number: 14718171
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Intangible assets 3 5,400
Current assets
Debtors 4 2,480
Creditors: amounts falling due within one year 5 (7,777)
Net current liabilities (5,297)
Net assets 103
Capital and reserves
Called up share capital 100
Profit and loss account 3
Shareholder's funds 103
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M L King
Director
Approved by the board on 31 August 2024
Finishing Touches Beauty School Limited
Notes to the Accounts
for the period from 9 March 2023 to 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Intangible fixed assets £
Goodwill:
Cost
Additions 6,000
At 31 March 2024 6,000
Amortisation
Provided during the period 600
At 31 March 2024 600
Net book value
At 31 March 2024 5,400
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2024
£
Other debtors 2,480
5 Creditors: amounts falling due within one year 2024
£
Bank loans and overdrafts 96
Taxation and social security costs 4,128
Intercompany loan 3,553
7,777
6 Controlling party
The company is controlled by the director.
7 Other information
Finishing Touches Beauty School Limited is a private company limited by shares and incorporated in England. Its registered office is:
163 Bath Road
Cheltenham
Glos
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