Registered number
05833560
N.M. BEAUTY SUPPLY LTD
Filleted Accounts
31 May 2023
N.M. BEAUTY SUPPLY LTD
Registered number: 05833560
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 528,434 529,142
Current assets
Stocks 849,605 754,850
Debtors 4 254,861 15,500
Cash at bank and in hand 5,845 15,989
1,110,311 786,339
Creditors: amounts falling due within one year 5 (703,264) (472,906)
Net current assets 407,047 313,433
Total assets less current liabilities 935,481 842,575
Creditors: amounts falling due after more than one year 6 (378,722) (416,610)
Net assets 556,759 425,965
Capital and reserves
Profit and loss account 556,759 425,965
Shareholders' funds 556,759 425,965
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Maqbool Hussain
Director
Approved by the board on 29 October 2024
N.M. BEAUTY SUPPLY LTD
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 6
3
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 June 2022 525,601 23,100 548,701
At 31 May 2023 525,601 23,100 548,701
Depreciation
At 1 June 2022 - 19,559 19,559
Charge for the year - 708 708
At 31 May 2023 - 20,267 20,267
Net book value
At 31 May 2023 525,601 2,833 528,434
At 31 May 2022 525,601 3,541 529,142
4 Debtors 2023 2022
£ £
Trade debtors 226,451 15,500
Other debtors 28,410 -
254,861 15,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 501,957 218,017
Trade creditors 100,615 194,059
Taxation and social security costs 41,892 52,510
Other creditors 58,800 8,320
703,264 472,906
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 378,722 416,610
7 Other information
N.M. BEAUTY SUPPLY LTD is a private company limited by shares and incorporated in England. Its registered office is:
64 North Road
Southall
Middlesex
UB1 2JL
N.M. BEAUTY SUPPLY LTD 05833560 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts July 2024 Maqbool Hussain No description of principal activity 05833560 2021-06-01 2022-05-31 05833560 core:WithinOneYear 2022-05-31 05833560 core:AfterOneYear 2022-05-31 05833560 core:RetainedEarningsAccumulatedLosses 2022-05-31 05833560 2022-06-01 2023-05-31 05833560 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 05833560 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 05833560 bus:Director40 2022-06-01 2023-05-31 05833560 core:LandBuildings 2022-06-01 2023-05-31 05833560 core:Vehicles 2022-06-01 2023-05-31 05833560 countries:England 2022-06-01 2023-05-31 05833560 bus:FRS102 2022-06-01 2023-05-31 05833560 bus:FilletedAccounts 2022-06-01 2023-05-31 05833560 2023-05-31 05833560 core:WithinOneYear 2023-05-31 05833560 core:AfterOneYear 2023-05-31 05833560 core:RetainedEarningsAccumulatedLosses 2023-05-31 05833560 core:LandBuildings 2023-05-31 05833560 core:Vehicles 2023-05-31 05833560 2022-05-31 05833560 core:LandBuildings 2022-05-31 05833560 core:Vehicles 2022-05-31 iso4217:GBP xbrli:pure