2023-06-012024-05-312024-05-31false11363530Neil Young Beauty 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Neil Young Beauty Limited

Registered Number
11363530
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

Neil Young Beauty Limited
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

Neil Young

Registered Address

42 High Street, Wanstead
London
E11 2RJ

Registered Number

11363530 (England and Wales)
Neil Young Beauty Limited
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4605965
605965
Current assets
Cash at bank and on hand24,79611,544
24,79611,544
Creditors amounts falling due within one year5(10,755)(11,435)
Net current assets (liabilities)14,041109
Total assets less current liabilities14,6461,074
Provisions for liabilities6(151)(183)
Net assets14,495891
Capital and reserves
Called up share capital100100
Profit and loss account14,395791
Shareholders' funds14,495891
The financial statements were approved and authorised for issue by the Director on 10 October 2024, and are signed on its behalf by:
Neil Young
Director
Registered Company No. 11363530
Neil Young Beauty Limited
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
Neil Young Beauty Limited is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Deferred tax
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2018 and now has been fully amortised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Computer equipment - 20% on cost
2.Average number of employees

20242023
Average number of employees during the year11
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 June 2312,00012,000
At 31 May 2412,00012,000
Amortisation and impairment
At 01 June 2312,00012,000
At 31 May 2412,00012,000
Net book value
At 31 May 24--
At 31 May 23--
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 232,6772,677
At 31 May 242,6772,677
Depreciation and impairment
At 01 June 231,7121,712
Charge for year360360
At 31 May 242,0722,072
Net book value
At 31 May 24605605
At 31 May 23965965
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties1912,279
Taxation and social security10,5649,156
Total10,75511,435
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.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)151183
Total151183