Company Registration No. 11815593 (England and Wales)
Beauty & Grace Limited
Unaudited accounts
for the year ended 29 February 2024
Beauty & Grace Limited
Unaudited accounts
Contents
Beauty & Grace Limited
Company Information
for the year ended 29 February 2024
Director
Maria Grace Watson
Company Number
11815593 (England and Wales)
Registered Office
71-75 Shelton Street
London
WC2H 9JQ
United Kingdom
Accountants
Multiply Accountancy Limited
71-75 Shelton Street
London
WC2H 9JQ
Beauty & Grace Limited
Statement of financial position
as at 29 February 2024
Tangible assets
3,246
3,205
Inventories
387,057
253,570
Cash at bank and in hand
107,187
145,406
Creditors: amounts falling due within one year
(436,921)
(107,057)
Net current assets
144,400
350,667
Total assets less current liabilities
147,646
359,472
Creditors: amounts falling due after more than one year
(236,940)
(238,363)
Net (liabilities)/assets
(89,294)
121,109
Called up share capital
100
100
Share premium
169,900
169,900
Profit and loss account
(259,294)
(48,891)
Shareholders' funds
(89,294)
121,109
For the 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. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 November 2024 and were signed on its behalf by
Maria Grace Watson
Director
Company Registration No. 11815593
Beauty & Grace Limited
Notes to the Accounts
for the year ended 29 February 2024
Beauty & Grace Limited is a private company, limited by shares, registered in England and Wales, registration number 11815593. The registered office is 71-75 Shelton Street, London, WC2H 9JQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
All interest costs are recognised in the profit or loss in the period in which they are incurred.
The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. At the reporting date, the company had net liabilities of (£86,294) (2023: 121,109). The director has considered the company’s financial position, including its cash flow forecasts and the availability of funding, to assess its ability to meet its obligations as they fall due.
The director acknowledges the challenges posed by the company's current financial position. However, they have a reasonable expectation that the company will continue to trade as a going concern. This conclusion is based on the director's plans to manage working capital carefully, including close monitoring of cash flows, negotiating extended payment terms with suppliers, and pursuing other funding options if required.
The director believes that these actions, alongside the company’s trading performance, provide sufficient assurance that the company will be able to meet its financial obligations over the next 12 months.
Beauty & Grace Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Intangible fixed assets
Other
At 29 February 2024
28,000
At 29 February 2024
28,000
5
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
-
4,629
4,629
At 29 February 2024
1,213
5,552
6,765
At 1 March 2023
-
1,424
1,424
Charge for the year
325
1,770
2,095
At 29 February 2024
325
3,194
3,519
At 29 February 2024
888
2,358
3,246
At 28 February 2023
-
3,205
3,205
Amounts falling due within one year
Accrued income and prepayments
21,529
26,360
Other debtors
60,460
25,288
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
150,651
47,172
Taxes and social security
33,071
35,791
Other creditors
250,196
8,268
Beauty & Grace Limited
Notes to the Accounts
for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
236,940
238,363
9
Average number of employees
During the year the average number of employees was 4 (2023: 3).