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REGISTERED NUMBER: 08116317 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PERFECTIONS BEAUTY UK LTD

PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

PERFECTIONS BEAUTY UK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: F Rogers





REGISTERED OFFICE: 28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ





REGISTERED NUMBER: 08116317 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ

PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,646 19,602
15,646 19,602

CURRENT ASSETS
Stocks 6 38,850 36,800
Debtors 7 7,991 439
Cash at bank and in hand 12,608 5,544
59,449 42,783
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

56,488

49,151
NET CURRENT ASSETS/(LIABILITIES) 2,961 (6,368 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,607

13,234

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

9

(29,168

)

(34,723

)

PROVISIONS FOR LIABILITIES 10 (2,517 ) (3,211 )
NET LIABILITIES (13,078 ) (24,700 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (13,178 ) (24,800 )
SHAREHOLDERS' FUNDS (13,078 ) (24,700 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)

BALANCE SHEET - continued
31 MARCH 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2024 and were signed by:





F Rogers - Director


PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Perfections Beauty UK Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

In preparing the financial statements, the director is required to make an assessment of the ability of the company to continue as a going concern. The director has considered all available evidence for the company which covers the 12 month period from the date of signing these financial statements.

On the basis of this consideration, the director is satisfied that the company has adequate resources to continue in operational existence and to meet its liabilities as they fall due for the foreseeable future. In reaching this conclusion they consider that no material uncertainty exists. As a result, the director has concluded that it remains appropriate to adopt a going concern basis of preparation in these financial statements.

Turnover
Turnover represents the net invoiced sales of beauty services and goods, excluding VAT. Turnover is recognised at the point at which the rights to consideration become due.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Improvements to property - 25% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 6 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023
and 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 April 2023 43,450 3,000 8,817
Additions - - 100
At 31 March 2024 43,450 3,000 8,917
DEPRECIATION
At 1 April 2023 43,450 300 7,040
Charge for year - 300 470
At 31 March 2024 43,450 600 7,510
NET BOOK VALUE
At 31 March 2024 - 2,400 1,407
At 31 March 2023 - 2,700 1,777

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 38,842 3,898 98,007
Additions 349 449 898
At 31 March 2024 39,191 4,347 98,905
DEPRECIATION
At 1 April 2023 23,904 3,711 78,405
Charge for year 3,822 262 4,854
At 31 March 2024 27,726 3,973 83,259
NET BOOK VALUE
At 31 March 2024 11,465 374 15,646
At 31 March 2023 14,938 187 19,602

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 38,850 36,800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Prepayments 7,991 439

PERFECTIONS BEAUTY UK LTD (REGISTERED NUMBER: 08116317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 6,088 5,556
Tax 6,719 -
Social security and other taxes 2,534 2,170
VAT 17,099 15,051
Other creditors 2,658 6,093
Directors' current accounts 17,665 18,582
Accrued expenses 3,725 1,699
56,488 49,151

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 16,667 16,667
Bank loans more 5 yr by instal 6,945 12,500
29,168 34,723

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,945 12,500

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax
Accelerated capital allowances 2,517 3,211

Deferred
tax
£   
Balance at 1 April 2023 3,211
Provided during year (694 )
Balance at 31 March 2024 2,517

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed Mrs F Rogers £17,665 (2023 - £18,582). This loan is interest free and has no terms attached.

During the reporting period, rent of £7,200 was paid to Mrs F Rogers in respect of use of the business premises.

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PERFECTIONS BEAUTY UK LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Perfections Beauty UK Ltd for the year ended 31 March 2024 which comprise the Statement of Income and Retained Earnings, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Perfections Beauty UK Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perfections Beauty UK Ltd and state those matters that we have agreed to state to the director of Perfections Beauty UK Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Perfections Beauty UK Ltd and its director for our work or for this report.

It is your duty to ensure that Perfections Beauty UK Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Perfections Beauty UK Ltd. You consider that Perfections Beauty UK Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perfections Beauty UK Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


27 September 2024