Company registration number 08527485 (England and Wales)
FIJI BEAUTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
FIJI BEAUTY LIMITED
COMPANY INFORMATION
Director
Ms K F Marshall
Company number
08527485
Registered office
147 Sutton Road
Wylde Green
Sutton Coldfield
West Midlands
England
B23 5TN
Accountants
Malcolm Piper & Company Limited
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
FIJI BEAUTY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
FIJI BEAUTY LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FIJI BEAUTY LIMITED FOR THE YEAR ENDED 31 MAY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Fiji Beauty Limited for the year ended 31 May 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the director of Fiji Beauty Limited in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Fiji Beauty Limited and state those matters that we have agreed to state to the director of Fiji Beauty Limited in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fiji Beauty Limited and its director for our work or for this report.

It is your duty to ensure that Fiji Beauty Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Fiji Beauty Limited. You consider that Fiji Beauty Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Fiji Beauty Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Malcolm Piper & Company Limited
19 November 2024
Chartered Accountants
Kingsnorth House
Blenheim Way
Birmingham
West Midlands
United Kingdom
B44 8LS
FIJI BEAUTY LIMITED
BALANCE SHEET
AS AT
31 MAY 2024
31 May 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
312,334
249,125
Current assets
Stocks
9,333
8,852
Debtors
5
58,231
48,560
Cash at bank and in hand
113,705
162,242
181,269
219,654
Creditors: amounts falling due within one year
6
(209,427)
(219,708)
Net current liabilities
(28,158)
(54)
Total assets less current liabilities
284,176
249,071
Creditors: amounts falling due after more than one year
7
(45,384)
(9,402)
Provisions for liabilities
(58,008)
(20,900)
Net assets
180,784
218,769
Capital and reserves
Called up share capital
10
2
2
Profit and loss reserves
180,782
218,767
Total equity
180,784
218,769

For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her 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.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

FIJI BEAUTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2024
31 May 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 19 November 2024
Ms K F Marshall
Director
Company registration number 08527485 (England and Wales)
FIJI BEAUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 4 -
1
Accounting policies
Company information

Fiji Beauty Limited is a private company limited by shares incorporated 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 (£).

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements have been prepared under the historical cost convention.

1.2
Going concern

The financial statements have been prepared on a going concern basis, which places reliance on the continued support of the company director and shareholders.true

 

The director believes that the company has adequate resources to continue its current operations and that it remains appropriate to prepare the company's financial statements on a going concern basis. The financial statements do not include the adjustments that would result if the company was unable to continue as a going concern.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.

1.4
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Plant and machinery etc
15% reducing balance method
Fixtures and fittings
15% reducing balance method
Computers
33% straight line method
Motor vehicles
25% reducing balance method
1.5
Stocks

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

1.6
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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

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.

FIJI BEAUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

 

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

 

Unrelieved tax 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.

1.7
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit or loss in the period to which they relate.

1.8
Leases

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over the estimated useful lives. Those held under finance leases are depreciated over their useful lives or the lease term, whichever is the shorter.

 

The interest element of these obligations is charged to the profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
6
3
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation - owned assets
17,202
15,760
FIJI BEAUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 June 2023
260,412
54,417
12,267
49,090
376,186
Additions
120,406
4,757
8,035
-
0
133,198
Disposals
(37,550)
-
0
-
0
-
0
(37,550)
At 31 May 2024
343,268
59,174
20,302
49,090
471,834
Depreciation and impairment
At 1 June 2023
77,368
36,857
9,256
3,579
127,060
Depreciation charged in the year
36,654
2,799
2,468
11,378
53,299
Eliminated in respect of disposals
(20,859)
-
0
-
0
-
0
(20,859)
At 31 May 2024
114,022
39,656
11,724
14,957
180,359
Carrying amount
At 31 May 2024
250,105
19,518
8,578
34,133
312,334
At 31 May 2023
183,043
17,560
3,011
45,511
249,125

Included within plant and machinery, etc. are assets with a net book value of £83,397 (2023 - £17,385) which are held as security against the hire purchase agreements to which they relate.

 

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
14,447
14,965
Other debtors
43,784
33,595
58,231
48,560
FIJI BEAUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
-
0
9,917
Trade creditors
12,395
20,325
Hire purchase contracts
23,964
5,400
Other taxation and social security
35,286
34,820
Other creditors
137,782
149,246
209,427
219,708

 

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Hire purchase contracts
45,384
9,402
8
Hire Purchase obligations
2024
2023
Future minimum lease payments due under hire purchase:
£
£
Within one year
23,964
5,400
After one year
45,384
9,402
69,348
14,802

Included in 'other creditors' above are hire purchase balances totalling £69,348 (2023: £14,802) which are secured against the assets to which they relate.

9
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
58,008
20,900
FIJI BEAUTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
9
Deferred taxation
(Continued)
- 8 -
2024
Movements in the year:
£
Liability at 1 June 2023
20,900
Charge to profit or loss
37,108
Liability at 31 May 2024
58,008

 

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
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