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Anastasia Beverly Hills UK Limited

Registered number: 11872186
Annual report
For the year ended 31 December 2023

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
REGISTERED NUMBER: 11872186

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
$
$

Fixed assets
  

Intangible fixed assets
 4 
40,582
-

Tangible assets
 5 
696,626
1,062,412

  
737,208
1,062,412

Current assets
  

Receivables: amounts falling due within one year
 6 
3,345,585
2,806,906

Cash at bank and in hand
  
2,208,274
2,514,837

  
5,553,859
5,321,743

Payables: amounts falling due within one year
 7 
(5,495,096)
(5,014,767)

Net current assets
  
 
 
58,763
 
 
306,976

Total assets less current liabilities
  
795,971
1,369,388

Provisions for liabilities
  

Deferred tax
 8 
(184,302)
(129,990)

Other provisions
 9 
-
(760,319)

  
 
 
(184,302)
 
 
(890,309)

Net assets
  
611,669
479,079


Capital and reserves
  

Called up share capital 
 10 
1,300
1,300

Profit and loss account
  
610,369
477,779

Total equity
  
611,669
479,079


Page 1

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
REGISTERED NUMBER: 11872186
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



R P Fagan
Director
Date: 24 September 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Anastasia Beverly Hills UK Limited is a private company limited by shares incorporated in England and Wales. The company's registered number is 11872186. The address of its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU.
The principal activity of the company is the wholesale of cosmetic products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006

The financial statements have been presented in United States Dollars, as this is the company's functional currency and the currency in which the company undertakes its major financial transactions, and is rounded to the nearest dollar.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements are prepared on a going concern basis. The company remains assured of financial support from the parent company. The directors have received confirmation that the parent company will continue to support the company and provide it with adequate funds when necessary to enable it to meet its debts as they fall due in the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.4

Cost of sales and distribution expenses

Cost of sales represents all costs associated to bring inventory into the company's warehouse and processing this inventory into a product fit for sale.
Distribution expenses represents all costs associated to warehousing expenses that stores the inventory prior to sale.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical 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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years
Assets under construction
-
not depreciated

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.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Receivables

Short-term receivables are measured at transaction price, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Payables

Short-term payables are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Provisions for liabilities

Provisions are made when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charges as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
 
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.12

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable.
Financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is identified, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and its recoverable amount, which is an estimate of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a rate of interest.
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transactions price and subsequently measured at amortised costs.
Financial assets and liabilities are offset and the net amount reported in the Statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 6

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The company does not have any employees other than the directors, who did not receive any remuneration during the year (2022: nil).


4.


Intangible assets




Computer software

$



Cost


At 1 January 2023
-


Additions
44,271



At 31 December 2023

44,271



Amortisation


Charge for the year
3,689



At 31 December 2023

3,689



Net book value



At 31 December 2023
40,582



At 31 December 2022
-



Page 7

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings
Assets under construction
Total

$
$
$



Cost


At 1 January 2023
2,727,580
-
2,727,580


Additions
189,538
143,358
332,896



At 31 December 2023

2,917,118
143,358
3,060,476



Depreciation


At 1 January 2023
1,665,168
-
1,665,168


Charge for the year
698,682
-
698,682



At 31 December 2023

2,363,850
-
2,363,850



Net book value



At 31 December 2023
553,268
143,358
696,626



At 31 December 2022
1,062,412
-
1,062,412

Page 8

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Receivables: amount falling due within one year

2023
2022
$
$


Trade receivables
1,474,185
1,479,476

Amounts owed by group undertakings
354,308
523,905

Other receivables
1,282,656
624,248

Prepayments
234,436
179,277

3,345,585
2,806,906


Amounts owed by group undertakings are unsecured, interest-free and payable on demand.


7.


Payables: amounts falling due within one year

2023
2022
$
$

Trade payables
621,336
325,400

Amounts owed to group undertakings
3,770,799
4,076,778

Corporation tax
28,795
-

Accruals and deferred income
1,074,166
612,589

5,495,096
5,014,767


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

Page 9

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Deferred taxation




2023


$






At beginning of year
(129,990)


Charged to profit or loss
(54,312)


Utilised in year
-



At end of year
(184,302)

The provision for deferred taxation is made up as follows:

2023
2022
$
$


Fixed asset timing differences
(184,302)
(265,603)

Losses and other deductions
-
135,613

(184,302)
(129,990)


9.


Provisions




Duties provision

$





At 1 January 2023
760,319


Released in year
(760,319)



At 31 December 2023
-


10.


Called up share capital

2023
2022
$
$
Allotted, called up and fully paid



1,000 (2022: 1,000) ordinary shares of $1.30 each
1,300
1,300

Each ordinary share has attached to it full voting, dividend and capital distribution rights.


Page 10

 
 11872186
31 December 2023
ANASTASIA BEVERLY HILLS UK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Related party transactions

The company is exempt from disclosing related party transactions undertaken with other wholly owned members of the group that have been concluded under normal market conditions.


12.


Post balance sheet events

There have been no significant events affecting the company since the year end.


13.


Controlling party

The immediate and ultimate parent company is Anastasia Beverly Hills, LLC, a company incorporated in the United States of America. The address of its registered office is 10635 Santa Monica, Boulevard #300, Los Angeles, California, United States, 90025. 
The smallest and largest group which produces consolidated financial statements in which the company is included is Anastasia Holding, LLC whose financial statements are publicly available. Copies of these financial statements may be obtained from 25-21 49TH Street, Long Island City, New York, 11103.


14.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 26 September 2024 by Gerhard Bonthuys (Senior statutory auditor) on behalf of Forvis Mazars LLP.

Page 11