Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31true2023-06-01falseNo description of principal activity19The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.19true 09033884 2023-06-01 2024-05-31 09033884 2022-06-01 2023-05-31 09033884 2024-05-31 09033884 2023-05-31 09033884 c:Director1 2023-06-01 2024-05-31 09033884 d:Buildings 2023-06-01 2024-05-31 09033884 d:Buildings d:LongLeaseholdAssets 2023-06-01 2024-05-31 09033884 d:Buildings d:LongLeaseholdAssets 2024-05-31 09033884 d:Buildings d:LongLeaseholdAssets 2023-05-31 09033884 d:PlantMachinery 2023-06-01 2024-05-31 09033884 d:PlantMachinery 2024-05-31 09033884 d:PlantMachinery 2023-05-31 09033884 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09033884 d:MotorVehicles 2023-06-01 2024-05-31 09033884 d:MotorVehicles 2024-05-31 09033884 d:MotorVehicles 2023-05-31 09033884 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09033884 d:OfficeEquipment 2023-06-01 2024-05-31 09033884 d:OfficeEquipment 2024-05-31 09033884 d:OfficeEquipment 2023-05-31 09033884 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09033884 d:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 09033884 d:OtherPropertyPlantEquipment 2024-05-31 09033884 d:OtherPropertyPlantEquipment 2023-05-31 09033884 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09033884 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 09033884 d:CurrentFinancialInstruments 2024-05-31 09033884 d:CurrentFinancialInstruments 2023-05-31 09033884 d:Non-currentFinancialInstruments 2024-05-31 09033884 d:Non-currentFinancialInstruments 2023-05-31 09033884 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 09033884 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 09033884 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 09033884 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 09033884 d:ShareCapital 2024-05-31 09033884 d:ShareCapital 2023-05-31 09033884 d:RetainedEarningsAccumulatedLosses 2024-05-31 09033884 d:RetainedEarningsAccumulatedLosses 2023-05-31 09033884 c:FRS102 2023-06-01 2024-05-31 09033884 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 09033884 c:FullAccounts 2023-06-01 2024-05-31 09033884 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09033884 d:WithinOneYear 2024-05-31 09033884 d:WithinOneYear 2023-05-31 09033884 d:HirePurchaseContracts d:WithinOneYear 2024-05-31 09033884 d:HirePurchaseContracts d:WithinOneYear 2023-05-31 09033884 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-05-31 09033884 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-05-31 09033884 2 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Company registration number: 09033884







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024


WRIMES COSMETICS LTD






































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WRIMES COSMETICS LTD
REGISTERED NUMBER:09033884



STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
309,025
411,907

  
309,025
411,907

Current assets
  

Stocks
  
1,380,924
973,240

Debtors: amounts falling due after more than one year
 5 
1,405,543
1,460,313

Debtors: amounts falling due within one year
 5 
255,992
417,717

Cash at bank and in hand
  
27,875
5,191

  
3,070,334
2,856,461

Creditors: amounts falling due within one year
 6 
(1,275,171)
(1,208,830)

Net current assets
  
 
 
1,795,163
 
 
1,647,631

Total assets less current liabilities
  
2,104,188
2,059,538

Creditors: amounts falling due after more than one year
  
(709,117)
(558,523)

Provisions for liabilities
  

Deferred tax
  
(76,196)
(53,165)

  
 
 
(76,196)
 
 
(53,165)

Net assets
  
1,318,875
1,447,850


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,318,775
1,447,750

  
1,318,875
1,447,850


Page 1

 


WRIMES COSMETICS LTD
REGISTERED NUMBER:09033884


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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: 




................................................
L D Ames
Director

Date: 7 January 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 


WRIMES COSMETICS LTD
 


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

1.


General information

Wrimes Cosmetics 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.
The presentation currency of the financial statements is the Pound Sterling (£). 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have an expectation that the company has adequate resources to continue operational existence for the foreseable future. The directors consider that the company can meet its liabilities as they fall due.

 
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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 


WRIMES COSMETICS LTD
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.6

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.

 
2.7

Interest income

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

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 


WRIMES COSMETICS LTD
 


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

2.Accounting policies (continued)

 
2.10

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.12

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.

Page 5

 


WRIMES COSMETICS LTD
 


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

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

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:

Improvements to property
-
20% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
20% straight line
Office equipment
-
20% straight line
Integral features
-
20% straight line

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.

 
2.13

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 reporting 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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
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.
Financial instruments are recognised in the companys statement of financial position when the company
becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 19).


4.


Tangible fixed assets




Page 6

 


WRIMES COSMETICS LTD
 


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

           4.Tangible fixed assets (continued)


Improvements to property
Plant and machinery
Motor vehicles
Office equipment
Integral features

£
£
£
£
£



Cost or valuation


At 1 June 2023
18,225
623,186
12,694
172,970
12,451


Additions
-
60,000
-
11,993
-



At 31 May 2024

18,225
683,186
12,694
184,963
12,451



Depreciation


At 1 June 2023
13,112
276,080
9,878
119,086
9,463


Charge for the year on owned assets
3,645
129,937
2,539
36,264
2,490



At 31 May 2024

16,757
406,017
12,417
155,350
11,953



Net book value



At 31 May 2024
1,468
277,169
277
29,613
498



At 31 May 2023
5,113
347,106
2,816
53,884
2,988

Total

£



Cost or valuation


At 1 June 2023
839,526


Additions
71,993



At 31 May 2024

911,519



Depreciation


At 1 June 2023
427,619


Charge for the year on owned assets
174,875



At 31 May 2024

602,494



Net book value



At 31 May 2024
309,025



At 31 May 2023
411,907

Page 7

 


WRIMES COSMETICS LTD
 


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

5.


Debtors

2024
2023
£
£

Due after more than one year

Due from connected companies
1,405,543
1,460,313

1,405,543
1,460,313


2024
2023
£
£

Due within one year

Trade debtors
181,334
309,375

Other debtors
15,912
52,875

Prepayments and accrued income
58,746
55,467

255,992
417,717



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
13,003
-

Bank loans
192,500
-

Other loans
182,599
460,922

Trade creditors
476,662
316,671

Corporation tax
53,647
68,622

Other taxation and social security
58,832
20,682

Obligations under finance lease and hire purchase contracts
30,125
12,125

Other creditors
262,803
324,808

Accruals and deferred income
5,000
5,000

1,275,171
1,208,830


The following liabilities were secured:

2024
2023
£
£



Bank loans
192,500
-

192,500
-

Details of security provided:

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets.

Page 8

 


WRIMES COSMETICS LTD
 


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

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
529,375
-

Other loans
129,032
524,169

Net obligations under finance leases and hire purchase contracts
50,710
34,354

709,117
558,523


The following liabilities were secured:

2024
2023
£
£



Bank loans
529,375
-

529,375
-

Details of security provided:

The bank loan and other facilities are secured by a fixed and floating charge over the company's assets.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
30,125
12,125

Between 1-5 years
50,710
34,354

80,835
46,479


9.


Commitments under operating leases

At 31 May 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Operating lease commitments
480,000
660,000

480,000
660,000

Page 9

 


WRIMES COSMETICS LTD
 


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

10.


Transactions with directors

At the balance sheet date the company owed £150,694 (2023: £241,120) to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.

 
Page 10