Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-2932023-03-01falseNo description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12800502 2023-03-01 2024-02-29 12800502 2021-09-01 2023-02-28 12800502 2024-02-29 12800502 2023-02-28 12800502 c:Director1 2023-03-01 2024-02-29 12800502 d:OfficeEquipment 2023-03-01 2024-02-29 12800502 d:OfficeEquipment 2024-02-29 12800502 d:OfficeEquipment 2023-02-28 12800502 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12800502 d:ComputerEquipment 2023-03-01 2024-02-29 12800502 d:ComputerEquipment 2024-02-29 12800502 d:ComputerEquipment 2023-02-28 12800502 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12800502 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12800502 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-02-29 12800502 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-02-28 12800502 d:CurrentFinancialInstruments 2024-02-29 12800502 d:CurrentFinancialInstruments 2023-02-28 12800502 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12800502 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12800502 d:ShareCapital 2024-02-29 12800502 d:ShareCapital 2023-02-28 12800502 d:SharePremium 2024-02-29 12800502 d:SharePremium 2023-02-28 12800502 d:RetainedEarningsAccumulatedLosses 2024-02-29 12800502 d:RetainedEarningsAccumulatedLosses 2023-02-28 12800502 c:OrdinaryShareClass1 2023-03-01 2024-02-29 12800502 c:OrdinaryShareClass1 2024-02-29 12800502 c:OrdinaryShareClass1 2023-02-28 12800502 c:FRS102 2023-03-01 2024-02-29 12800502 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12800502 c:FullAccounts 2023-03-01 2024-02-29 12800502 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12800502 2 2023-03-01 2024-02-29 12800502 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-03-01 2024-02-29 12800502 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 12800502













BEAUTY LABS GROUP LTD
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024


 
BEAUTY LABS GROUP LTD
REGISTERED NUMBER:12800502


BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
321
358

Tangible assets
 5 
1,023
2,159

Current assets
  

Stocks
  
-
92,299

Debtors: amounts falling due within one year
 6 
2,752
79,942

Cash at bank and in hand
  
729,181
809,538

  
731,933
981,779

Creditors: amounts falling due within one year
 7 
(217,448)
(241,004)

Net current assets
  
 
 
514,485
 
 
740,775

  

Net assets
  
515,829
743,292


Capital and reserves
  

Called up share capital 
 8 
20
20

Share premium account
  
499,980
499,980

Profit and loss account
  
15,829
243,292

  
515,829
743,292

Page 1


 
BEAUTY LABS GROUP LTD
REGISTERED NUMBER:12800502

    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 his 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 statement of comprehensive income 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: 



M Auty
Director

Date: 28 November 2024

Page 2


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Beauty Labs Group Ltd (Company number 12800502) is incorporated and domiciled in England and Wales. The registered office is Harwood House, 43 Harwood Road, London, SW6 4QP.
The principle activities of the company is the creation and development of next generation health and beauty products. 
The company ceased trading on 31 May 2023 and has been and remains dormant.

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 company ceased trading on 31 May 2023 and has been and remains dormant. These financial statements have therefore been prepared on a break-up basis, with all foreseeable liabilities being provided for.

 
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.

Page 3


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

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 balance sheet date in the countries where the Company operates and generates income.


 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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:

Office equipment
-
3 years
Computer equipment
-
3 years

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.

 
2.11

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 balance sheet 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.

Page 5


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.



 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 3)

Page 6


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Trademarks

£



Cost


At 1 March 2023
370



At 29 February 2024

370



Amortisation


At 1 March 2023
12


Charge for the year on owned assets
37



At 29 February 2024

49



Net book value



At 29 February 2024
321



At 28 February 2023
358



Page 7


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
935
2,868
3,803



At 29 February 2024

935
2,868
3,803



Depreciation


At 1 March 2023
199
1,446
1,645


Charge for the year on owned assets
199
936
1,135



At 29 February 2024

398
2,382
2,780



Net book value



At 29 February 2024
537
486
1,023


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
-
74,816

Other debtors
2,752
5,126

2,752
79,942


Page 8


 
BEAUTY LABS GROUP LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Creditors: amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
9,091
68,328

Corporation tax
21,028
58,071

Other taxation and social security
-
4,807

Other creditors
180,244
104,139

Accruals and deferred income
7,085
5,659

217,448
241,004



8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



2,000 (2023 - 2,000) Ordinary shares of £0.01 each
20
20



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £253 (2023 - £1,421) . Contributions totalling £nil (2023 - £243) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9