Skin Sapiens Ltd. 11283147 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of the retail sale of cosmetic and toilet articles. Digita Accounts Production Advanced 6.30.9574.0 true true false 11283147 2023-04-01 2024-03-31 11283147 2024-03-31 11283147 core:CurrentFinancialInstruments 2024-03-31 11283147 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11283147 core:Non-currentFinancialInstruments 2024-03-31 11283147 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11283147 core:OtherResidualIntangibleAssets 2024-03-31 11283147 core:PatentsTrademarksLicencesConcessionsSimilar 2024-03-31 11283147 core:CostValuation 2024-03-31 11283147 core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 11283147 core:FurnitureFittingsToolsEquipment 2024-03-31 11283147 bus:SmallEntities 2023-04-01 2024-03-31 11283147 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11283147 bus:FullAccounts 2023-04-01 2024-03-31 11283147 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11283147 bus:RegisteredOffice 2023-04-01 2024-03-31 11283147 bus:Director1 2023-04-01 2024-03-31 11283147 bus:Director2 2023-04-01 2024-03-31 11283147 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11283147 bus:Agent1 2023-04-01 2024-03-31 11283147 core:ComputerSoftware 2023-04-01 2024-03-31 11283147 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 11283147 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-01 2024-03-31 11283147 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 11283147 core:OfficeEquipment 2023-04-01 2024-03-31 11283147 core:ParentEntities 2023-04-01 2024-03-31 11283147 countries:AllCountries 2023-04-01 2024-03-31 11283147 2023-03-31 11283147 core:OtherResidualIntangibleAssets 2023-03-31 11283147 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 11283147 core:CostValuation 2023-03-31 11283147 core:FurnitureFittingsToolsEquipment 2023-03-31 11283147 2022-04-01 2023-03-31 11283147 2023-03-31 11283147 core:CurrentFinancialInstruments 2023-03-31 11283147 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 11283147 core:CurrentFinancialInstruments core:RestatedAmount 2023-03-31 11283147 core:Non-currentFinancialInstruments 2023-03-31 11283147 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 11283147 core:OtherResidualIntangibleAssets 2023-03-31 11283147 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-31 11283147 core:FurnitureFittingsToolsEquipment 2023-03-31 11283147 core:RestatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11283147

Skin Sapiens Ltd.

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

image-name
 

Skin Sapiens Ltd.

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 12

 

Skin Sapiens Ltd.

Company Information

Directors

Mr J M Jardella

Mr JA Roger Jara

Registered office

22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

Accountants

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Skin Sapiens Ltd.
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Skin Sapiens Ltd. for the year ended 31 March 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Skin Sapiens Ltd., as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Skin Sapiens Ltd. and state those matters that we have agreed to state to the Board of Directors of Skin Sapiens Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Skin Sapiens Ltd. and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Skin Sapiens Ltd. has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Skin Sapiens Ltd.. You consider that Skin Sapiens Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Skin Sapiens Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Michael J Emery & Co Limited
Chartered Accountants
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ

24 October 2024

 

Skin Sapiens Ltd.

(Registration number: 11283147)
Balance Sheet as at 31 March 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Intangible assets

4

3,346

4,905

Tangible assets

5

90

121

Investments

6

2,565

2,489

 

6,001

7,515

Current assets

 

Stocks

7

89,810

81,246

Debtors

8

11,375

70,287

Cash at bank and in hand

 

60,641

154,233

 

161,826

305,766

Creditors: Amounts falling due within one year

9

(5,975)

(65,575)

Net current assets

 

155,851

240,191

Total assets less current liabilities

 

161,852

247,706

Creditors: Amounts falling due after more than one year

9

(14,204)

(15,487)

Net assets

 

147,648

232,219

Capital and reserves

 

Called up share capital

366

366

Share premium reserve

440,285

440,285

Profit and loss account

(293,003)

(208,432)

Total equity

 

147,648

232,219

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Skin Sapiens Ltd.

(Registration number: 11283147)
Balance Sheet as at 31 March 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 October 2024 and signed on its behalf by:
 

.........................................
Mr J M Jardella
Director

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales, 11283147.

The address of its registered office is:
22 St John Street
Newport Pagnell
Buckinghamshire
MK16 8HJ
England

These financial statements were authorised for issue by the Board on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Prior period errors

Credit notes were issued to a customer dated May 2023. These credit notes should have been dated March 2023. As such, prior year sales and profit and loss reserves were overstated.

 

Relating to the current period disclosed in these financial statements
£

Relating to the prior period disclosed in these financial statements
£

Relating to periods before the prior period disclosed in these financial statements
£

Trade debtors

-

(13,321)

-

Sales

13,321

(13,321)

-

Profit and loss reserves

13,321

-

-

    

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

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 taxable income.

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademarks

Over 10 years

Website development

Over 5 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, including directors, was 2 (2023 - 2).

4

Intangible assets

Trademarks, patents and licenses
 £

Website development
 £

Total
£

Cost or valuation

At 1 April 2023

992

7,300

8,292

At 31 March 2024

992

7,300

8,292

Amortisation

At 1 April 2023

467

2,920

3,387

Amortisation charge

99

1,460

1,559

At 31 March 2024

566

4,380

4,946

Carrying amount

At 31 March 2024

426

2,920

3,346

At 31 March 2023

525

4,380

4,905

The aggregate amount of research and development expenditure recognised as an expense during the period is £2,229 (2023 - £2,001).
 

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

298

298

At 31 March 2024

298

298

Depreciation

At 1 April 2023

177

177

Charge for the year

31

31

At 31 March 2024

208

208

Carrying amount

At 31 March 2024

90

90

At 31 March 2023

121

121

6

Investments

2024
£

2023
£

Investments in subsidiaries

2,565

2,489

Subsidiaries

£

Cost or valuation

At 1 April 2023

2,489

Revaluation

76

At 31 March 2024

2,565

Provision

Carrying amount

At 31 March 2024

2,565

At 31 March 2023

2,489

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Stocks

2024
£

2023
£

Inventory

89,810

81,246

8

Debtors

Current

Note

2024
£

(As restated)

2023
£

Trade debtors

 

4,530

33,254

Amounts owed by related parties

11

755

33,957

Prepayments

 

4,180

3,028

VAT debtor

 

1,368

-

Other debtors

 

542

48

   

11,375

70,287

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

2,260

2,094

Trade creditors

 

1,723

56,147

Accruals

 

1,498

4,820

VAT creditor

 

-

2,514

Corporation tax creditor

 

494

-

 

5,975

65,575

Due after one year

 

Loans and borrowings

10

14,204

15,487

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

14,204

15,487

 

Skin Sapiens Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

14,204

15,487

2024
£

2023
£

Current loans and borrowings

Bank borrowings

2,260

2,094

11

Related party transactions

Summary of transactions with parent


Two Man Holdings Ltd
This company holds 61% of the share capital in issue.

At the balance sheet date, the amount due from Two Man Holdings Ltd was £48 (2023: £48).