CPM Cosmetics Ltd NI669060 false 2023-05-01 2023-12-31 2023-12-31 The principal activity of the company is wholesale of cosmetics Digita Accounts Production Advanced 6.30.9574.0 true true NI669060 2023-05-01 2023-12-31 NI669060 2023-12-31 NI669060 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-12-31 NI669060 core:CurrentFinancialInstruments 2023-12-31 NI669060 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI669060 core:OtherPropertyPlantEquipment 2023-12-31 NI669060 bus:SmallEntities 2023-05-01 2023-12-31 NI669060 bus:AuditExemptWithAccountantsReport 2023-05-01 2023-12-31 NI669060 bus:FilletedAccounts 2023-05-01 2023-12-31 NI669060 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2023-12-31 NI669060 bus:RegisteredOffice 2023-05-01 2023-12-31 NI669060 bus:Director1 2023-05-01 2023-12-31 NI669060 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-05-01 2023-12-31 NI669060 bus:PrivateLimitedCompanyLtd 2023-05-01 2023-12-31 NI669060 core:OtherPropertyPlantEquipment 2023-05-01 2023-12-31 NI669060 countries:NorthernIreland 2023-05-01 2023-12-31 NI669060 2022-05-01 2023-04-30 NI669060 2023-04-30 NI669060 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-30 NI669060 core:CurrentFinancialInstruments 2023-04-30 NI669060 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI669060

CPM Cosmetics Ltd

Unaudited Filleted Financial Statements

for the Period from 1 May 2023 to 31 December 2023

 

CPM Cosmetics Ltd

(Registration number: NI669060)
Balance Sheet as at 31 December 2023

Note

31 December
2023
£

30 April
2023
£

Fixed assets

 

Tangible assets

4

4,603

-

Current assets

 

Stocks

5

54,776

-

Debtors

6

35,636

100

Cash at bank and in hand

 

5,622

-

 

96,034

100

Creditors: Amounts falling due within one year

7

(329,004)

-

Net current (liabilities)/assets

 

(232,970)

100

Net (liabilities)/assets

 

(228,367)

100

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(228,467)

-

Shareholders' (deficit)/funds

 

(228,367)

100

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

CPM Cosmetics Ltd

(Registration number: NI669060)
Balance Sheet as at 31 December 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 September 2024
 

.........................................
Mr Connor Martin
Director

 

CPM Cosmetics Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Unit 13 Craigstown Road Industrial Estate, Craigstown Road, Randalstown, Co Antrim, BT41 2PT.

These financial statements were authorised for issue by the director on 27 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

This is the first trading period of the company and it has incurred some set-up costs which has resulted in a net loss for the year. This has been financed by intergroup loans which will continue to be made available. The directors are encouraged by the growth in sales after the year-end and anticipate that the company will be profit making within the short-term. The accounts have been prepared on a going concern basis.

Revenue recognition

turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

CPM Cosmetics Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

 

CPM Cosmetics Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 December 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

5,415

5,415

At 31 December 2023

5,415

5,415

Depreciation

Charge for the period

812

812

At 31 December 2023

812

812

Carrying amount

At 31 December 2023

4,603

4,603

5

Stocks

31 December
2023
£

30 April
2023
£

Stocks

54,776

-

 

CPM Cosmetics Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 December 2023

6

Debtors

31 December
2023
£

30 April
2023
£

Trade debtors

29,366

-

Other debtors

6,270

100

 

35,636

100

7

Creditors

31 December
2023
£

30 April
2023
£

Trade creditors

61,080

-

Amounts owed to associated company

266,424

-

Accruals and deferred income

1,500

-

329,004

-

8

Share capital

Allotted, called up and fully paid shares

31 December
2023

30 April
2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

CPM Cosmetics Ltd

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 31 December 2023

9

Related party transactions

Transactions and outstanding balances with non-group related parties, related through virtue of common control were as follows:

31 December
2023
£

30 April
2023
£

Purchase of goods and services

45,930

-

Amounts due to related parties

321,540

-

Amounts due to, and due from, associated companies are unsecured and interest free. They are repayable on demand. Amounts due from the directors are unsecured and repayable on demand.