Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30truefalse2023-07-01falseSeller of fragrances, cosmetics and skin care products3428false 11389511 2023-07-01 2024-06-30 11389511 2022-07-01 2023-06-30 11389511 2024-06-30 11389511 2023-06-30 11389511 c:Director2 2023-07-01 2024-06-30 11389511 d:FurnitureFittings 2023-07-01 2024-06-30 11389511 d:FurnitureFittings 2024-06-30 11389511 d:FurnitureFittings 2023-06-30 11389511 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11389511 d:OfficeEquipment 2023-07-01 2024-06-30 11389511 d:OfficeEquipment 2024-06-30 11389511 d:OfficeEquipment 2023-06-30 11389511 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11389511 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 11389511 d:CurrentFinancialInstruments 2024-06-30 11389511 d:CurrentFinancialInstruments 2023-06-30 11389511 d:Non-currentFinancialInstruments 2024-06-30 11389511 d:Non-currentFinancialInstruments 2023-06-30 11389511 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 11389511 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11389511 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 11389511 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 11389511 d:ShareCapital 2024-06-30 11389511 d:ShareCapital 2023-06-30 11389511 d:RetainedEarningsAccumulatedLosses 2024-06-30 11389511 d:RetainedEarningsAccumulatedLosses 2023-06-30 11389511 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 11389511 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 11389511 c:FRS102 2023-07-01 2024-06-30 11389511 c:Audited 2023-07-01 2024-06-30 11389511 c:FullAccounts 2023-07-01 2024-06-30 11389511 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 11389511 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 11389511 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 11389511












PHOENIX BEAUTY LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
 30 JUNE 2024





















 


img1411.png
01483 755 399
hamlyns.com

 
PHOENIX BEAUTY LTD
REGISTERED NUMBER: 11389511

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,739
30,954

  
20,739
30,954

Current assets
  

Stocks
  
2,572,951
1,705,540

Debtors: amounts falling due within one year
 5 
2,377,985
1,384,536

Cash at bank and in hand
  
342,358
52,787

  
5,293,294
3,142,863

Creditors: amounts falling due within one year
 6 
(2,902,918)
(2,167,907)

Net current assets
  
 
 
2,390,376
 
 
974,956

Total assets less current liabilities
  
2,411,115
1,005,910

Creditors: amounts falling due after more than one year
 7 
(2,184,595)
(1,409,157)

Provisions for liabilities
  

Deferred tax
 8 
(4,568)
(7,738)

  
 
 
(4,568)
 
 
(7,738)

Net assets/(liabilities)
  
221,952
(410,985)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
221,852
(411,085)

  
221,952
(410,985)


Page 1

 
PHOENIX BEAUTY LTD
REGISTERED NUMBER: 11389511

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

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 profit and loss account 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 on 17 October 2024.




Mr N Buckley
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Phoenix Beauty Ltd is a private company, limited by shares, registered in England and Wales. The registered office address and registered number are detailed below:
Registered office address: Sundial House, High Street, Horsell, Woking, England, GU21 4SU
Registered number: 11389511

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The company is supported through secured interest bearing shareholder loans, as detailed in note 7. These loans will only be repayable when the shareholder ceases to own any shares in the company. The directors have received confirmation that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements. Accordingly, the financial statements have been prepared on a going concern basis. 

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.9

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.

Page 5

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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
-
at varying rates
Office equipment
-
over 3 years

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

Creditors

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

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 34 (2023 - 28).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
158,561
30,154
188,715


Additions
-
6,870
6,870


Disposals
(133,031)
(1,291)
(134,322)



At 30 June 2024

25,530
35,733
61,263



Depreciation


At 1 July 2023
143,105
14,654
157,759


Charge for the year on owned assets
9,280
8,506
17,786


Disposals
(134,555)
(466)
(135,021)



At 30 June 2024

17,830
22,694
40,524



Net book value



At 30 June 2024
7,700
13,039
20,739



At 30 June 2023
15,455
15,499
30,954

Page 7

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,942,708
1,038,030

Amounts owed by group undertakings
62,529
55,500

Other debtors
87,793
41,522

Prepayments and accrued income
284,955
249,484

2,377,985
1,384,536



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,319
10,064

Trade creditors
2,233,672
1,597,537

Corporation tax
76,486
-

Other taxation and social security
209,235
193,632

Other creditors
61,776
78,216

Accruals and deferred income
311,430
288,458

2,902,918
2,167,907


Page 8

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Debentures loans
2,175,000
1,391,405

Bank loans
9,595
17,752

2,184,595
1,409,157


The following liabilities were secured:

2024
2023
£
£



Debenture loan
2,175,000
1,391,405

2,175,000
1,391,405

Details of security provided:

Included in other creditors are secured interest bearing shareholder loans of £2,175,000 (2023: £1,391,405). Repayment is not due within 12 months of the year end. The loans are secured by a fixed and floating charge over all assets of the company.


8.


Deferred taxation




2024


£






At beginning of year
(7,738)


Utilised in year
3,170



At end of year
(4,568)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(4,568)
(7,738)

(4,568)
(7,738)


9.


Pension commitments

Pension commitments as at the year end were £15,481 (2022: £5,568)

Page 9

 
PHOENIX BEAUTY LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 17 October 2024 by Oliver Spevack (senior statutory auditor) on behalf of Hamlyns Limited.


Page 10