Registered number
05427986
Nip and Tuck (UK) Limited
Filleted Accounts
30 April 2024
Nip and Tuck (UK) Limited
Registered number: 05427986
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 30,781 32,862
Current assets
Debtors 4 79,434 22,614
Cash at bank and in hand 88,443 223,895
167,877 246,509
Creditors: amounts falling due within one year 5 (36,998) (36,043)
Net current assets 130,879 210,466
Total assets less current liabilities 161,660 243,328
Provisions for liabilities (2,012) (2,552)
Net assets 159,648 240,776
Capital and reserves
Called up share capital 2 2
Profit and loss account 159,646 240,774
Shareholders' funds 159,648 240,776
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.
Mr N Davey
Director
Approved by the board on 31 October 2024
Nip and Tuck (UK) Limited
Notes to the Accounts
for the year ended 30 April 2024
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:
Plant and machinery 25% reducing balance
Buildings 50 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 20,675 6,863 35,802 63,340
Additions 1,197 694 - 1,891
At 30 April 2024 21,872 7,557 35,802 65,231
Depreciation
At 1 May 2023 1,242 4,761 24,475 30,478
Charge for the year 438 702 2,832 3,972
At 30 April 2024 1,680 5,463 27,307 34,450
Net book value
At 30 April 2024 20,192 2,094 8,495 30,781
At 30 April 2023 19,433 2,102 11,327 32,862
4 Debtors 2024 2023
£ £
Trade debtors 19,678 22,414
Other debtors 59,756 200
79,434 22,614
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 23,504 13,171
Taxation and social security costs 12,499 21,368
Other creditors 995 1,504
36,998 36,043
6 Controlling party
The company is controlled by the directors.
7 Other information
Nip and Tuck (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Loft
Unit 11, Hunthay Business Park
Axminster
Devon
EX13 5RJ
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