Registered number
05128601
Essence Of Beauty (UK) LTD
Filleted Abridged Accounts
31 May 2024
Essence Of Beauty (UK) LTD
Registered number: 05128601
Abridged Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 49,601 17,312
Current assets
Stocks 10,836 10,836
Debtors 66 66
Cash at bank and in hand 45,283 68,279
56,185 79,181
Creditors: amounts falling due within one year (75,565) (58,029)
Net current (liabilities)/assets (19,380) 21,152
Total assets less current liabilities 30,221 38,464
Creditors: amounts falling due after more than one year (13,425) (23,333)
Net assets 16,796 15,131
Capital and reserves
Called up share capital 100 100
Profit and loss account 16,696 15,031
Shareholders' funds 16,796 15,131
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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Marina Sanghera
Director
Approved by the board on 11 November 2024
Essence Of Beauty (UK) LTD
Notes to the Abridged Accounts
for the year ended 31 May 2024
1 Accounting policies
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 15% Reducing Balance
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 0
3 Tangible fixed assets
Total
£
Cost
At 1 June 2023 126,910
Additions 35,420
At 31 May 2024 162,330
Depreciation
At 1 June 2023 109,598
Charge for the year 3,131
At 31 May 2024 112,729
Net book value
At 31 May 2024 49,601
At 31 May 2023 17,312
4 Other information
Essence Of Beauty (UK) LTD is a private company limited by shares and incorporated in England. Its registered office is:
70 Bounces Road
Edmonton
London
N9 8JS
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