REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
SB Selected Beauty Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 29 February 2024 |
for |
SB Selected Beauty Ltd |
SB Selected Beauty Ltd (Registered number: 09450078) |
Contents of the Financial Statements |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
SB Selected Beauty Ltd |
Company Information |
for the Year Ended 29 February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Linden End |
Linden Gardens |
Leatherhead |
Surrey |
KT22 7HB |
SB Selected Beauty Ltd (Registered number: 09450078) |
Statement of Financial Position |
29 February 2024 |
29.2.24 | 28.2.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDER FUNDS |
The director acknowledges his 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. |
SB Selected Beauty Ltd (Registered number: 09450078) |
Statement of Financial Position - continued |
29 February 2024 |
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 |
SB Selected Beauty Ltd (Registered number: 09450078) |
Notes to the Financial Statements |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
SB Selected Beauty Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The functional currency of SB Selected Beauty Ltd is considered to be pounds sterling because that is the currency of the primary economic environment in which the company operates. |
Revenue |
Revenue - described as turnover - is measured as the value of goods (net of VAT) provided to customers during the period plus the value of any commission due (net of VAT) on deals completed in the period. |
Revenue is recognised on the sale of goods when the goods are delivered and title has passed. Revenue is recognised on commission sales once the conditions for its payment have been met. |
Tangible fixed assets |
Depreciation is provided, on a straight line basis, at the following annual rates in order to write off the cost less residual value of each asset over its estimated useful life: Equipment 3 years Furniture, fixtures and fillings 4 years. |
Stocks |
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value) after making allowance for obsolete and slow moving items. Costs are based on a first in first out basis whilst overheads are charged to profit and loss as incurred. Borrowing costs are not capitalised. |
When stock is sold the carrying amount of that stock is recognised as an expense in the period in which the revenue is recognised whilst write-downs of stock value and stock losses are recognised as an expense in the period in which such adjustment arises. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
SB Selected Beauty Ltd (Registered number: 09450078) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Transactions denominated in foreign currencies (primarily purchases and associated sales) are initially recorded in sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating result. Year end debtors and creditors are restated at the rates of exchange ruling at the balance sheet date with exchange differences included in arriving at profit before tax. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
Disposals | ( |
) |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade debtors |
Other debtors |
SB Selected Beauty Ltd (Registered number: 09450078) |
Notes to the Financial Statements - continued |
for the Year Ended 29 February 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
29.2.24 | 28.2.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors and accruals |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is S Barter. |