Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseRetail sale of cosmetic items3030truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03203073 2023-01-01 2023-12-31 03203073 2022-01-01 2022-12-31 03203073 2023-12-31 03203073 2022-12-31 03203073 c:Director1 2023-01-01 2023-12-31 03203073 d:FurnitureFittings 2023-01-01 2023-12-31 03203073 d:FurnitureFittings 2023-12-31 03203073 d:FurnitureFittings 2022-12-31 03203073 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03203073 d:ComputerEquipment 2023-01-01 2023-12-31 03203073 d:ComputerEquipment 2023-12-31 03203073 d:ComputerEquipment 2022-12-31 03203073 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03203073 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03203073 d:CurrentFinancialInstruments 2023-12-31 03203073 d:CurrentFinancialInstruments 2022-12-31 03203073 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03203073 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03203073 d:ShareCapital 2023-12-31 03203073 d:ShareCapital 2022-12-31 03203073 d:RetainedEarningsAccumulatedLosses 2023-12-31 03203073 d:RetainedEarningsAccumulatedLosses 2022-12-31 03203073 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03203073 c:OrdinaryShareClass1 2023-12-31 03203073 c:OrdinaryShareClass1 2022-12-31 03203073 c:FRS102 2023-01-01 2023-12-31 03203073 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03203073 c:FullAccounts 2023-01-01 2023-12-31 03203073 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03203073 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03203073









TRISH MCEVOY U.K. LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
TRISH MCEVOY U.K. LIMITED
REGISTERED NUMBER: 03203073

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
69,063
95,758

  
69,063
95,758

Current assets
  

Stocks
  
460,558
437,952

Debtors: amounts falling due within one year
 5 
481,294
417,504

Cash at bank and in hand
  
420,170
409,827

  
1,362,022
1,265,283

Creditors: amounts falling due within one year
 6 
(3,700,561)
(3,600,987)

Net current liabilities
  
 
 
(2,338,539)
 
 
(2,335,704)

Total assets less current liabilities
  
(2,269,476)
(2,239,946)

  

Net liabilities
  
(2,269,476)
(2,239,946)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(2,269,576)
(2,240,046)

  
(2,269,476)
(2,239,946)


Page 1

 
TRISH MCEVOY U.K. LIMITED
REGISTERED NUMBER: 03203073
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



T McEvoy
Director

Date: 30 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
TRISH MCEVOY U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of Trish McEvoy U.K. Limited ("the Company") is the retail sale of cosmetic items.
The company is a private company limited by shares and is incorporated in England and Wales, registration and its Registered Office address is 35 Ballards Lane, London, N3 1XW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis, which assumes that the Company will continue to trade for the foresseable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.
In the year ended 31 December 2023, the company incurred a loss before tax of £38,164 
(2022: £403,090) and at the balance sheet date, there were net liabilities of £2,269,476 (2022: £2,239,946).
In common with many other businesses the company was affected by the worldwide coronavirus (CoVid-19) pandemic. The company's operations suffered as all retail units were shut during the various phases of the pandemic in accordance with UK Government lockdowns, limiting sales only to online orders and even when the restrictions were lifted footfall in the main shopping areas was much reduced. During 2023 sales have increased, albeit from a lower base, as the effects of the pandemic diminished.
As set out below, the director has received assurances that Trish McEvoy Inc will continue to fund the company if necessary going forwards.
The company will also seek to reduce expenditure which is considered unnecessary at this time or which can be delayed. Due to further support from the majority shareholder and reductions in expenditure, the director believes at the time of signing these financial
statements that they should be prepared on a going concern basis. 
Trish McEvoy Inc has confirmed that they will provide sufficient support to ensure that the company will be able to pay their commitments and liabilities as they fall due. This commitment is for a period of at least twelve months from the date of approval of these financial statements.

Page 3

 
TRISH MCEVOY U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
TRISH MCEVOY U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

No deferred tax asset is provided on tax losses carried forward due to the uncertainty of future profits.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
TRISH MCEVOY U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2022 - 30).


4.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
842,545
81,671
924,216


Additions
-
990
990


Exchange adjustments
(1,125)
-
(1,125)



At 31 December 2023

841,420
82,661
924,081



Depreciation


At 1 January 2023
747,658
80,801
828,459


Charge for the year on owned assets
27,139
535
27,674


Exchange adjustments
(1,115)
-
(1,115)



At 31 December 2023

773,682
81,336
855,018



Net book value



At 31 December 2023
67,738
1,325
69,063



At 31 December 2022
94,887
871
95,758

Page 6

 
TRISH MCEVOY U.K. LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
470,982
410,804

Other debtors
7,987
6,700

Prepayments and accrued income
2,325
-

481,294
417,504



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
189,948
161,630

Other taxation and social security
144,457
122,879

Other creditors
3,021,251
3,122,435

Accruals and deferred income
344,905
194,043

3,700,561
3,600,987



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



8.


Related party transactions

The director and shareholder of the company has a beneficial interest in a US company. This company is the main supplier to the company. During the year the company purchased goods from that company amounting to £1,427,584 (2022: £1,261,573). 
At 31 December 2023 the company owed £3,017,112 (2022: £3,121,218) to the US company. 

 
Page 7