Registered number
04668518
Skin by Sterex Limited
Unaudited Filleted Accounts
31 December 2023
Skin by Sterex Limited
Registered number: 04668518
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 7,405 9,060
Current assets
Stocks 73,550 84,774
Debtors 5 25,652 30,014
Cash at bank and in hand 37,455 40,106
136,657 154,894
Creditors: amounts falling due within one year 6 (281,108) (316,810)
Net current liabilities (144,451) (161,916)
Net liabilities (137,046) (152,856)
Capital and reserves
Called up share capital 100 100
Profit and loss account (137,146) (152,956)
Shareholders' funds (137,046) (152,856)
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 members have 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.
C J Cartmell
Director
Approved by the board on 22 August 2024
Skin by Sterex Limited
Notes to the Accounts
for the year ended 31 December 2023
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).
Going concern
The financial statements have been prepared under the going concern convention, which relies on the continued support of the company's directors and related companies.
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Computer equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Intangible fixed assets
Other
intangible
Goodwill assets Total
£ £ £
Cost
At 1 January 2023 15,000 148,643 163,643
At 31 December 2023 15,000 148,643 163,643
Amortisation
At 1 January 2023 15,000 148,643 163,643
At 31 December 2023 15,000 148,643 163,643
Net book value
At 31 December 2023 - - -
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 57,200
At 31 December 2023 57,200
Depreciation
At 1 January 2023 48,140
Charge for the year 1,655
At 31 December 2023 49,795
Net book value
At 31 December 2023 7,405
At 31 December 2022 9,060
5 Debtors 2023 2022
£ £
Trade debtors 2,553 2,268
Other debtors 23,099 27,746
25,652 30,014
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,150 2,264
Taxation and social security costs 2,803 1,385
Other creditors 275,155 313,161
281,108 316,810
7 Related party transactions
Other creditors includes an interest free loan of £271,617 (2022: £272,487 from Sterex Electrolysis International Limited, a related company.
8 Other information
Skin by Sterex Limited is a private company limited by shares and incorporated in England. Its registered office is:
174 Kings Road
Tyseley
Birmingham
B11 2AP
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