Registered number
06866541
Natural Skincare Solutions Limited
Filleted Accounts
31 March 2024
Natural Skincare Solutions Limited
Registered number: 06866541
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 101,742 114,469
Current assets
Stocks 398,609 404,052
Debtors 5 398,229 455,314
Cash at bank and in hand 509,695 398,053
1,306,533 1,257,419
Creditors: amounts falling due within one year 6 (269,906) (328,825)
Net current assets 1,036,627 928,594
Total assets less current liabilities 1,138,369 1,043,063
Creditors: amounts falling due after more than one year 7 (143,227) (179,979)
Net assets 995,142 863,084
Capital and reserves
Called up share capital 2 2
Profit and loss account 995,140 863,082
Shareholders' funds 995,142 863,084
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.
S Atkinson
Director
Approved by the board on 18 November 2024
Natural Skincare Solutions Limited
Notes to the Accounts
for the year ended 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).
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over its expected useful life, as follows:
Plant and machinery 25% on WDV
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
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 31 32
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 3,000
Disposals (3,000)
At 31 March 2024 -
Amortisation
At 1 April 2023 3,000
On disposals (3,000)
At 31 March 2024 -
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 4 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 208,719
Additions 21,187
At 31 March 2024 229,906
Depreciation
At 1 April 2023 94,250
Charge for the year 33,914
At 31 March 2024 128,164
Net book value
At 31 March 2024 101,742
At 31 March 2023 114,469
5 Debtors 2024 2023
£ £
Trade debtors 383,287 437,665
Other debtors 14,942 17,649
398,229 455,314
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 36,000 35,714
Trade creditors 61,641 104,278
Taxation and social security costs 167,427 182,844
Other creditors 4,838 5,989
269,906 328,825
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 143,227 179,979
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years - 35,996
9 Related party transactions
During the year payments of £137,735 (2023 - £90,742) were made to Barbara Scott Aromatics Ltd in respect of product consultancy £31,000 (2023 - £30,000) and rent £106,735 (2023 - £60,742). Barbara Scott Aromatics Ltd is wholly owned by Barbara Scott who is a director and 50% shareholder in Natural Skincare Solutions Ltd.
10 Other information
Natural Skincare Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 14 Pineapple Business Park
Pineapple Lane, Salwayash
Bridport
Dorset
DT6 5DB
Natural Skincare Solutions Limited 06866541 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 S Atkinson No description of principal activity 06866541 2022-04-01 2023-03-31 06866541 core:WithinOneYear 2023-03-31 06866541 core:AfterOneYear 2023-03-31 06866541 core:ShareCapital 2023-03-31 06866541 core:RetainedEarningsAccumulatedLosses 2023-03-31 06866541 2023-04-01 2024-03-31 06866541 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06866541 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06866541 bus:Director40 2023-04-01 2024-03-31 06866541 1 2023-04-01 2024-03-31 06866541 2 2023-04-01 2024-03-31 06866541 core:Goodwill 2023-04-01 2024-03-31 06866541 core:PlantMachinery 2023-04-01 2024-03-31 06866541 countries:England 2023-04-01 2024-03-31 06866541 bus:FRS102 2023-04-01 2024-03-31 06866541 bus:FilletedAccounts 2023-04-01 2024-03-31 06866541 2024-03-31 06866541 core:WithinOneYear 2024-03-31 06866541 core:AfterOneYear 2024-03-31 06866541 core:ShareCapital 2024-03-31 06866541 core:RetainedEarningsAccumulatedLosses 2024-03-31 06866541 core:Goodwill 2024-03-31 06866541 core:PlantMachinery 2024-03-31 06866541 2023-03-31 06866541 core:Goodwill 2023-03-31 06866541 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure