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Registered number: 12266307
The Willows Aesthetic Practice Limited
Financial Statements
For The Year Ended 31 October 2023
Devonports LAS Accountants Ltd
Cumberland House
24 - 28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12266307
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,600 5,400
Tangible Assets 5 20,212 23,779
23,812 29,179
CURRENT ASSETS
Stocks 6 10,079 5,184
Debtors 7 694 915
Cash at bank and in hand 31 147
10,804 6,246
Creditors: Amounts Falling Due Within One Year 8 (22,085 ) (13,191 )
NET CURRENT ASSETS (LIABILITIES) (11,281 ) (6,945 )
TOTAL ASSETS LESS CURRENT LIABILITIES 12,531 22,234
Creditors: Amounts Falling Due After More Than One Year 9 (19,004 ) (28,083 )
NET LIABILITIES (6,473 ) (5,849 )
CAPITAL AND RESERVES
Called up share capital 10 50 50
Profit and Loss Account (6,523 ) (5,899 )
SHAREHOLDERS' FUNDS (6,473) (5,849)
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M M Venneear
Director
31/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Willows Aesthetic Practice Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12266307 . The registered office is Cumberland House, 24-28 Baxter Avenue, Southend on Sea, Essex, SS2 6HZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% reducing balance
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2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 November 2022 9,000
As at 31 October 2023 9,000
Amortisation
As at 1 November 2022 3,600
Provided during the period 1,800
As at 31 October 2023 5,400
Net Book Value
As at 31 October 2023 3,600
As at 1 November 2022 5,400
5. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 November 2022 32,409
As at 31 October 2023 32,409
Depreciation
As at 1 November 2022 8,630
Provided during the period 3,567
As at 31 October 2023 12,197
Net Book Value
As at 31 October 2023 20,212
As at 1 November 2022 23,779
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Page 5
6. Stocks
2023 2022
£ £
Materials 10,079 5,184
7. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 694 915
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,539 1,300
Bank loans and overdrafts 10,000 10,000
Other creditors 1,000 1,000
Accruals and deferred income 1,050 670
Director's loan account 8,496 221
22,085 13,191
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 19,004 28,083
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 50 50
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