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Registered number: 08975603
M:ASK Beauty Limited
Financial Statements
For The Year Ended 31 March 2024
TaxAssist Accountants
165 Garstang Road
Fulwood
Preston
Lancashire
PR2 3BH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08975603
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 234,902 220,670
234,902 220,670
CURRENT ASSETS
Debtors 5 37,307 57,557
Cash at bank and in hand 5,652 13,058
42,959 70,615
Creditors: Amounts Falling Due Within One Year 6 (50,943 ) (77,616 )
NET CURRENT ASSETS (LIABILITIES) (7,984 ) (7,001 )
TOTAL ASSETS LESS CURRENT LIABILITIES 226,918 213,669
Creditors: Amounts Falling Due After More Than One Year 7 (158,577 ) (158,082 )
NET ASSETS 68,341 55,587
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 68,241 55,487
SHAREHOLDERS' FUNDS 68,341 55,587
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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 Reena Parekh
Director
10 July 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
M:ASK Beauty Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08975603 . The registered office is 282 Garstang road, Fulwood, Preston, Lancashire, PR2 9RX.
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. 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:
Freehold NA
Plant & Machinery 20% on cost
Fixtures & Fittings 20% on cost
Computer Equipment 33% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 1)
- 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 220,670
Additions 14,232
As at 31 March 2024 234,902
Net Book Value
As at 31 March 2024 234,902
As at 1 April 2023 220,670
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 5,000 -
Other debtors 32,307 57,557
37,307 57,557
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 675 -
Bank loans and overdrafts 23,246 41,683
Corporation tax - 10,216
Accruals and deferred income 4,199 675
Director's loan account 22,823 25,042
50,943 77,616
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 158,577 158,082
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4