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Registered number: 06420836
The May Tree Professional Health & Beauty Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Tilleys Accountancy Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06420836
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,314 5,905
Tangible Assets 5 24,077 24,486
29,391 30,391
CURRENT ASSETS
Stocks 6 5,000 5,000
Cash at bank and in hand 73,766 85,710
78,766 90,710
Creditors: Amounts Falling Due Within One Year 7 (81,282 ) (86,023 )
NET CURRENT ASSETS (LIABILITIES) (2,516 ) 4,687
TOTAL ASSETS LESS CURRENT LIABILITIES 26,875 35,078
Creditors: Amounts Falling Due After More Than One Year 8 (24,662 ) (33,913 )
NET ASSETS 2,213 1,165
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 2,113 1,065
SHAREHOLDERS' FUNDS 2,213 1,165
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Wendy May
Director
24/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The May Tree Professional Health & Beauty Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06420836 . The registered office is 6 Westmead Corner, Carshalton, SM5 2NZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Reducing Balance Depn 25%
Fixtures & Fittings Reducing Balance Depn 20%
Computer Equipment Reducing Balance Depn 20%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2022: 9)
12 9
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2022 20,000
As at 30 November 2023 20,000
Amortisation
As at 1 December 2022 14,095
Provided during the period 591
As at 30 November 2023 14,686
Net Book Value
As at 30 November 2023 5,314
As at 1 December 2022 5,905
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 17,917 31,738 296 254 50,205
Additions - 1,615 - - 1,615
As at 30 November 2023 17,917 33,353 296 254 51,820
Depreciation
As at 1 December 2022 - 25,583 65 71 25,719
Provided during the period - 1,942 46 36 2,024
As at 30 November 2023 - 27,525 111 107 27,743
Net Book Value
As at 30 November 2023 17,917 5,828 185 147 24,077
As at 1 December 2022 17,917 6,155 231 183 24,486
6. Stocks
2023 2022
£ £
Stock 5,000 5,000
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 426 6,007
Bank loans and overdrafts 10,783 15,490
Other creditors 27,286 34,757
Taxation and social security 42,787 29,769
81,282 86,023
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 24,662 33,913
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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