Silverfin false false 29/02/2024 01/03/2023 29/02/2024 Mr Antoine Nohra 14/02/2019 28 November 2024 The principal activity of the company continued to be that of the sale of cosmetic products in specialised stores. 11826031 2024-02-29 11826031 bus:Director1 2024-02-29 11826031 2023-02-28 11826031 core:CurrentFinancialInstruments 2024-02-29 11826031 core:CurrentFinancialInstruments 2023-02-28 11826031 core:ShareCapital 2024-02-29 11826031 core:ShareCapital 2023-02-28 11826031 core:RetainedEarningsAccumulatedLosses 2024-02-29 11826031 core:RetainedEarningsAccumulatedLosses 2023-02-28 11826031 core:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 11826031 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-02-28 11826031 core:PatentsTrademarksLicencesConcessionsSimilar 2024-02-29 11826031 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-02-29 11826031 core:ComputerEquipment 2023-02-28 11826031 core:ComputerEquipment 2024-02-29 11826031 2023-03-01 2024-02-29 11826031 bus:FilletedAccounts 2023-03-01 2024-02-29 11826031 bus:SmallEntities 2023-03-01 2024-02-29 11826031 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 11826031 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 11826031 bus:Director1 2023-03-01 2024-02-29 11826031 core:PatentsTrademarksLicencesConcessionsSimilar 2023-03-01 2024-02-29 11826031 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 11826031 core:ComputerEquipment 2023-03-01 2024-02-29 11826031 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure

Company No: 11826031 (England and Wales)

RECKLESS COSMETICS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
PAGES FOR FILING WITH THE REGISTRAR

RECKLESS COSMETICS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024

Contents

RECKLESS COSMETICS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
RECKLESS COSMETICS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
DIRECTOR Mr Antoine Nohra
REGISTERED OFFICE Suite D2 The Quadrant
Mercury Court
Chester
CH1 4QR
United Kingdom
COMPANY NUMBER 11826031 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
New Century House
Greenbank Technology Park
Challenge Way
Blackburn
BB1 5QB
RECKLESS COSMETICS LIMITED

BALANCE SHEET

AS AT 29 FEBRUARY 2024
RECKLESS COSMETICS LIMITED

BALANCE SHEET (continued)

AS AT 29 FEBRUARY 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 1,555 1,727
Tangible assets 4 832 979
2,387 2,706
Current assets
Stocks 184,008 191,220
Debtors 5 2,744 3,050
Cash at bank and in hand 33,878 45,586
220,630 239,856
Creditors: amounts falling due within one year 6 ( 389,519) ( 389,017)
Net current liabilities (168,889) (149,161)
Total assets less current liabilities (166,502) (146,455)
Net liabilities ( 166,502) ( 146,455)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 166,602 ) ( 146,555 )
Total shareholder's deficit ( 166,502) ( 146,455)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Reckless Cosmetics Limited (registered number: 11826031) were approved and authorised for issue by the Director on 28 November 2024. They were signed on its behalf by:

Mr Antoine Nohra
Director
RECKLESS COSMETICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
RECKLESS COSMETICS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Reckless Cosmetics Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite D2 The Quadrant, Mercury Court, Chester, CH1 4QR, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 10 % reducing balance
Website costs 10 % reducing balance
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Computer equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Trademarks, patents
and licences
Website costs Total
£ £ £
Cost
At 01 March 2023 840 1,530 2,370
At 29 February 2024 840 1,530 2,370
Accumulated amortisation
At 01 March 2023 236 407 643
Charge for the financial year 60 112 172
At 29 February 2024 296 519 815
Net book value
At 29 February 2024 544 1,011 1,555
At 28 February 2023 604 1,123 1,727

4. Tangible assets

Computer equipment Total
£ £
Cost
At 01 March 2023 1,462 1,462
At 29 February 2024 1,462 1,462
Accumulated depreciation
At 01 March 2023 483 483
Charge for the financial year 147 147
At 29 February 2024 630 630
Net book value
At 29 February 2024 832 832
At 28 February 2023 979 979

5. Debtors

2024 2023
£ £
Prepayments 2,553 2,536
VAT recoverable 191 514
2,744 3,050

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 271 1,369
Amounts owed to director 387,648 387,648
Accruals 1,600 0
389,519 389,017