Registered number
14766940
The Beauty Lounge (Topsham) Limited
Unaudited Filleted Accounts
31 March 2024
The Beauty Lounge (Topsham) Limited
Registered number: 14766940
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 1,224
Current assets
Stocks 6,459
Debtors 4 10,044
Cash at bank and in hand 93
16,596
Creditors: amounts falling due within one year 5 (4,851)
Net current assets 11,745
Total assets less current liabilities 12,969
Provisions for liabilities (88)
Net assets 12,881
Capital and reserves
Called up share capital 100
Profit and loss account 12,781
Shareholders' funds 12,881
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 M Downes
Director
Approved by the board on 14 November 2024
The Beauty Lounge (Topsham) Limited
Notes to the Accounts
for the period from 29 March 2023 to 31 March 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). The financial statements are presented insterling which is the functional currency of the company and are rounded to the nearest £
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.
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 20% Straight line
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.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss performance.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 1,530
At 31 March 2024 1,530
Depreciation
Charge for the period 306
At 31 March 2024 306
Net book value
At 31 March 2024 1,224
4 Debtors 2024
£
Other debtors 10,044
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 1,434
Taxation and social security costs 3,416
Other creditors 1
4,851
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Director
Interest paid at HMRC's official rate - 14,009 (4,864) 9,145
- 14,009 (4,864) 9,145
7 Other information
The Beauty Lounge (Topsham) Limited is a private company limited by shares and incorporated in England. Its registered office is:
8 Fore Street
Topsham
Exeter
Devon
EX3 0HF
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