Registered number
03625891
MAD BEAUTY LIMITED
Unaudited Filleted Accounts
31 December 2023
MAD BEAUTY LIMITED
Company Information
Directors
Mr T Cash
Mrs J Cash
Secretary
Mrs J Cash
Accountants
Key Business Consultants LLP
13 Whitchurch Lane
Edgware
HA8 6JZ
Bankers
HSBC UK Bank plc
Registered office
Unit 6 Wilmington Close
Watford
Hertfordshire
WD18 0FQ
Registered number
03625891
MAD BEAUTY LIMITED
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of MAD BEAUTY LIMITED for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of MAD BEAUTY LIMITED for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Key Business Consultants LLP
Chartered Accountants
13 Whitchurch Lane
Edgware
HA8 6JZ
19 September 2024
MAD BEAUTY LIMITED
Registered number: 03625891
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 28,186 4,229
Investments 4 1 1
28,187 4,230
Current assets
Stocks 1,372,223 1,465,248
Debtors 5 2,587,824 2,183,504
Cash at bank and in hand 198,750 495,999
4,158,797 4,144,751
Creditors: amounts falling due within one year 6 (958,151) (752,345)
Net current assets 3,200,646 3,392,406
Total assets less current liabilities 3,228,833 3,396,636
Creditors: amounts falling due after more than one year 7 (260,333) (402,333)
Provisions for liabilities (2,171) (2,171)
Net assets 2,966,329 2,992,132
Capital and reserves
Called up share capital 1,000 1,000
Revaluation reserve 9 70,000 70,000
Profit and loss account 2,895,329 2,921,132
Shareholders' funds 2,966,329 2,992,132
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.
Mrs J Cash
Director
Approved by the board on 19 September 2024
MAD BEAUTY 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).
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.
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:
Computer & office equipment Straight line basis over 33%
Fixtures, fittings, tools and equipment Straight line basis over 10 Years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
1 Accounting policies (cont.)
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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 20 16
3 Tangible fixed assets
Fixtures and fittings Office and computer equipment Total
£ £ £
Cost
At 1 January 2023 104,998 28,369 133,367
Additions 7,301 22,043 29,344
At 31 December 2023 112,299 50,412 162,711
Depreciation
At 1 January 2023 104,998 24,140 129,138
Charge for the year 487 4,900 5,387
At 31 December 2023 105,485 29,040 134,525
Net book value
At 31 December 2023 6,814 21,372 28,186
At 31 December 2022 - 4,229 4,229
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 1
At 31 December 2023 1
5 Debtors 2023 2022
£ £
Trade debtors 1,678,903 1,461,426
Other debtors 908,921 722,078
2,587,824 2,183,504
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 142,000 142,000
Trade creditors 315,165 211,488
Taxation and social security costs 96,755 174,794
Other creditors 404,231 224,063
958,151 752,345
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 260,333 402,333
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 402,333 544,333
The loans are secured against the assets of the property via fixed and floating charges, and also personal guarantees of the directors.
9 Revaluation reserve 2023 2022
£ £
At 1 January 2023 70,000 70,000
At 31 December 2023 70,000 70,000
10 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 66,500 136,632
11 Related party transactions
The company owns 100% of Mad Beauty USA LLC which is incorporated in the state of Delaware, USA. Included in trade debtors at the end of the financial year was 1,019,372 (2022: £753,075).

Included in other debtors at the end of the financial year was £407,494 (2022: £592,727) owing from this company. During the year under review the company sold goods to this company in the sum of £242,792 (2022: £401,010).

The company charged Mad Beauty USA LLC management charges in the sum of £242,792 during the year under review (2022: £488,000).
12 Controlling party
Both the directors hold equal controlling authority of the company.
13 Other information
MAD BEAUTY LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Unit 6 Wilmington Close
Watford
Hertfordshire
WD18 0FQ
MAD BEAUTY LIMITED 03625891 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 No description of principal activity 03625891 2022-01-01 2022-12-31 03625891 core:WithinOneYear 2022-12-31 03625891 core:AfterOneYear 2022-12-31 03625891 core:ShareCapital 2022-12-31 03625891 core:OtherReservesSubtotal 2022-12-31 03625891 core:RetainedEarningsAccumulatedLosses 2022-12-31 03625891 core:AllPeriods 2022-12-31 03625891 core:RevaluationReserve 2021-12-31 03625891 2023-01-01 2023-12-31 03625891 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03625891 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03625891 bus:Director1 2023-01-01 2023-12-31 03625891 bus:Director2 2023-01-01 2023-12-31 03625891 bus:CompanySecretary1 2023-01-01 2023-12-31 03625891 1 2023-01-01 2023-12-31 03625891 2 2023-01-01 2023-12-31 03625891 core:LandBuildings 2023-01-01 2023-12-31 03625891 core:PlantMachinery 2023-01-01 2023-12-31 03625891 countries:England 2023-01-01 2023-12-31 03625891 bus:FRS102 2023-01-01 2023-12-31 03625891 bus:FilletedAccounts 2023-01-01 2023-12-31 03625891 2023-12-31 03625891 core:WithinOneYear 2023-12-31 03625891 core:AfterOneYear 2023-12-31 03625891 core:ShareCapital 2023-12-31 03625891 core:OtherReservesSubtotal 2023-12-31 03625891 core:RetainedEarningsAccumulatedLosses 2023-12-31 03625891 core:LandBuildings 2023-12-31 03625891 core:PlantMachinery 2023-12-31 03625891 core:RevaluationReserve 2023-12-31 03625891 core:AllPeriods 2023-12-31 03625891 2022-12-31 03625891 core:LandBuildings 2022-12-31 03625891 core:PlantMachinery 2022-12-31 03625891 core:RevaluationReserve 2022-12-31 iso4217:GBP xbrli:pure