2023-01-012023-12-312023-12-31false09838771SMCK HAIR CARE PRODUCTS 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SMCK HAIR CARE PRODUCTS LIMITED

Registered Number
09838771
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

SMCK HAIR CARE PRODUCTS LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

HUGHES, Eamonn Andrew
MCKNIGHT, Samuel
SZIRTES, Andras

Company Secretary

MSP CORPORATE SERVICES LIMITED

Registered Address

Eastcastle House
27-28 Eastcastle Street
London
W1W 8DH

Registered Number

09838771 (England and Wales)
SMCK HAIR CARE PRODUCTS LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets364,875-
Tangible assets413,39015,803
78,26515,803
Current assets
Stocks5835,054349,588
Debtors6541,818338,580
Cash at bank and on hand1,195,9933,192,862
2,572,8653,881,030
Creditors amounts falling due within one year7(311,320)(285,344)
Net current assets (liabilities)2,261,5453,595,686
Total assets less current liabilities2,339,8103,611,489
Net assets2,339,8103,611,489
Capital and reserves
Called up share capital17,01216,984
Share premium6,576,8386,549,072
Profit and loss account(4,254,040)(2,954,567)
Shareholders' funds2,339,8103,611,489
The financial statements were approved and authorised for issue by the Board of Directors on 18 September 2024, and are signed on its behalf by:
MCKNIGHT, Samuel
Director
Registered Company No. 09838771
SMCK HAIR CARE PRODUCTS LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate cannot be made, the useful life shall not exceed 10 years. The assets are reviewed for impairment if any factors indicate that the carrying amount may be impaired.
Tangible fixed assets and depreciation
Tangible fixed assets are initially recorded at cost and at balance sheet date are stated at historic cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is calculated so as to write off the cost of an asset less its estimated residual value over the useful economic life of the respective asset. The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Depreciation is provided as follows:

Straight line (years)
Office Equipment4
Stocks and work in progress
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20232022
Average number of employees during the year96
3.Intangible assets

Other

Total

££
Cost or valuation
Additions65,72965,729
At 31 December 2365,72965,729
Amortisation and impairment
Charge for year854854
At 31 December 23854854
Net book value
At 31 December 2364,87564,875
At 31 December 22--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2321,41721,417
Additions4,3224,322
At 31 December 2325,73925,739
Depreciation and impairment
At 01 January 235,6145,614
Charge for year6,7356,735
At 31 December 2312,34912,349
Net book value
At 31 December 2313,39013,390
At 31 December 2215,80315,803
5.Stocks

2023

2022

££
Raw materials and consumables147,03225,487
Finished goods688,022324,101
Total835,054349,588
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables352,210232,462
Other debtors44,78374,968
Prepayments and accrued income144,82531,150
Total541,818338,580
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables233,118184,637
Bank borrowings and overdrafts44,79337,731
Taxation and social security27,90317,286
Accrued liabilities and deferred income5,50645,690
Total311,320285,344