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REGISTERED NUMBER: 04821599 (England and Wales)









PK'S BODY PIERCING STUDIO LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






PK'S BODY PIERCING STUDIO LIMITED (REGISTERED NUMBER: 04821599)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PK'S BODY PIERCING STUDIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: P E J Kneller





SECRETARY: MC Secretaries Limited





REGISTERED OFFICE: 145b West Street
Fareham
Hampshire
PO16 0DZ





REGISTERED NUMBER: 04821599 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

PK'S BODY PIERCING STUDIO LIMITED (REGISTERED NUMBER: 04821599)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,897 3,408
2,897 3,408

CURRENT ASSETS
Stocks 6 5,000 4,000
Debtors 7 25,432 29,017
Cash at bank and in hand 2,859 4,398
33,291 37,415
CREDITORS
Amounts falling due within one year 8 18,793 18,227
NET CURRENT ASSETS 14,498 19,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,395

22,596

CREDITORS
Amounts falling due after more than one
year

9

(2,500

)

(5,500

)

PROVISIONS FOR LIABILITIES (724 ) (852 )
NET ASSETS 14,171 16,244

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,071 16,144
SHAREHOLDERS' FUNDS 14,171 16,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PK'S BODY PIERCING STUDIO LIMITED (REGISTERED NUMBER: 04821599)

BALANCE SHEET - continued
31 JULY 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 November 2024 and were signed by:





P E J Kneller - Director


PK'S BODY PIERCING STUDIO LIMITED (REGISTERED NUMBER: 04821599)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

PK's Body Piercing Studio Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods and services for the year, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and cash at bank: Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand includes cash on deposit or in a current account.

Creditors and provisions: Creditors and provisions are recognised where there is a present obligation resulting from a past event that will probably result in the transfer of economic benefits to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


PK'S BODY PIERCING STUDIO LIMITED (REGISTERED NUMBER: 04821599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences at the balance sheet date, except as otherwise required in the paragraphs below.

Unrelieved 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 shall not be recognised on permanent differences, other than a business combination where assets (other than goodwill) give rise to an deferred tax asset or liability.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 30,000
AMORTISATION
At 1 August 2023
and 31 July 2024 30,000
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 August 2023
and 31 July 2024 6,400
DEPRECIATION
At 1 August 2023 2,992
Charge for year 511
At 31 July 2024 3,503
NET BOOK VALUE
At 31 July 2024 2,897
At 31 July 2023 3,408

PK'S BODY PIERCING STUDIO LIMITED (REGISTERED NUMBER: 04821599)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. STOCKS
2024 2023
£    £   
Stocks 5,000 4,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 695 316
Other debtors 24,737 28,701
25,432 29,017

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,000 3,000
Trade creditors 1,170 1,290
Taxation and social security 5,797 5,823
Other creditors 8,826 8,114
18,793 18,227

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,500 5,500

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits with a director subsisted during the year ended 31 July 2024 and 31 July 2023:


20242023
££
Balance outstanding at start of year25,59319,687
Amounts advanced to company by director(26,662)(21,585)
Amounts repaid to director by company2413727,490
Balance outstanding at end of year22,95225,593