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REGISTERED NUMBER: 05624859 (England and Wales)












WILLOW BEAUTY PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLOW BEAUTY PRODUCTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs S A Stowell



SECRETARY: Miss B L Stowell



REGISTERED OFFICE: Pennington House
Ridgeway Lane
Lymington
Hampshire
SO41 8AA



REGISTERED NUMBER: 05624859 (England and Wales)



BANKERS: HSBC Bank plc
Mitchell Way
Southampton International Airport
Southampton
Hampshire
SO18 2XU

WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Intangible assets 4 68,056 97,072
Tangible assets 5 3,328 2,171
71,384 99,243

CURRENT ASSETS
Stocks 181,300 235,862
Debtors 6 72,892 13,682
Cash at bank and in hand 4,302 40
258,494 249,584
CREDITORS
Amounts falling due within one year 7 (180,523 ) (172,443 )
NET CURRENT ASSETS 77,971 77,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,355

176,384

CREDITORS
Amounts falling due after more than one year 8 (538,102 ) (566,199 )
NET LIABILITIES (388,747 ) (389,815 )

CAPITAL AND RESERVES
Called up share capital 100,120 100,120
Retained earnings (488,867 ) (489,935 )
SHAREHOLDERS' FUNDS (388,747 ) (389,815 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 September 2024 and were signed by:





Mrs S A Stowell - Director


WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Willow Beauty Products Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

Going concern
The going concern position of the company is based on the continuation of support from the director and long term creditors. The director has concluded that with the right management actions and the continued support, the company is a going concern for at least 12 months following the signature of the financial statements. Accordingly the director has prepared the financial statements on this basis.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisiation and any accumulated impairment losses.

Development costs have been fully amortised over their estimate useful life of three years.

Intellectual property is being amortised evenly over its estimated life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Website costs - Straight line over 3 years
Fixtures and fittings - 20% Reducing balance
Computer equipment - Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the income statement.

Government grants
Department for Education: The accrual model has been used to recognise the grant when it is received or becomes receivable.

WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. INTANGIBLE FIXED ASSETS
Development Intellectual
costs property Totals
£ £ £
COST
At 1 January 2023
and 31 December 2023 44,934 290,168 335,102
AMORTISATION
At 1 January 2023 44,934 193,096 238,030
Amortisation for year - 29,016 29,016
At 31 December 2023 44,934 222,112 267,046
NET BOOK VALUE
At 31 December 2023 - 68,056 68,056
At 31 December 2022 - 97,072 97,072

5. TANGIBLE FIXED ASSETS
Fixtures
Website and Computer
costs fittings equipment Totals
£ £ £ £
COST
At 1 January 2023 12,368 5,682 11,714 29,764
Additions 4,419 - 96 4,515
At 31 December 2023 16,787 5,682 11,810 34,279
DEPRECIATION
At 1 January 2023 12,070 5,285 10,238 27,593
Charge for year 1,771 79 1,508 3,358
At 31 December 2023 13,841 5,364 11,746 30,951
NET BOOK VALUE
At 31 December 2023 2,946 318 64 3,328
At 31 December 2022 298 397 1,476 2,171

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 14,221 6,153
Other debtors 58,671 7,529
72,892 13,682

WILLOW BEAUTY PRODUCTS LIMITED (REGISTERED NUMBER: 05624859)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 28,234 17,097
Trade creditors 35,165 30,067
Taxation and social security 20,930 30,030
Other creditors 96,194 95,249
180,523 172,443

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 111,372 39,514
Other creditors 426,730 526,685
538,102 566,199

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 139,606 49,045

The company has benefited from the UK government's provision of security for 100% of the Bounce Back Loan.

10. RELATED PARTY DISCLOSURES

During the year, advances totalling £86,046 (2022: £47,094) were made to the company’s director. £32,307 (2022: £72,711) was repaid prior to the year-end. The balance outstanding at the year-end was £54,454 (2022: £715). Interest has been charged at HMRC's official rate. This loan has been fully repaid post year end.

During the year the company received monies from Greenclose Holdings Limited, a company under the control of the director's spouse, totalling £12,792 (2022: £45,669), and made payments totalling £99,781 (2022: £124,849). At the balance sheet date the balance owed was £461,456 (2022: £548,445). No interest was charged under this arrangement.