21 19 Re:New Beauty Limited 3672423 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of wholesale of nail and other beauty products Digita Accounts Production Advanced 6.30.9574.0 true true true 3672423 2023-07-01 2024-06-30 3672423 2024-06-30 3672423 bus:Director2 1 2024-06-30 3672423 bus:OrdinaryShareClass1 2024-06-30 3672423 bus:OrdinaryShareClass2 2024-06-30 3672423 bus:OrdinaryShareClass3 2024-06-30 3672423 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 3672423 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2024-06-30 3672423 core:CurrentFinancialInstruments 2024-06-30 3672423 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 3672423 core:Non-currentFinancialInstruments 2024-06-30 3672423 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 3672423 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 3672423 core:FurnitureFittings 2024-06-30 3672423 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 3672423 core:MotorVehicles 2024-06-30 3672423 core:OfficeEquipment 2024-06-30 3672423 bus:SmallEntities 2023-07-01 2024-06-30 3672423 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 3672423 bus:FilletedAccounts 2023-07-01 2024-06-30 3672423 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 3672423 bus:RegisteredOffice 2023-07-01 2024-06-30 3672423 bus:Director2 2023-07-01 2024-06-30 3672423 bus:Director2 1 2023-07-01 2024-06-30 3672423 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 3672423 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 3672423 bus:OrdinaryShareClass3 2023-07-01 2024-06-30 3672423 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 3672423 core:IntangibleAssetsOtherThanGoodwill 2023-07-01 2024-06-30 3672423 core:FurnitureFittings 2023-07-01 2024-06-30 3672423 core:LandBuildings 2023-07-01 2024-06-30 3672423 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 3672423 core:MotorVehicles 2023-07-01 2024-06-30 3672423 core:OfficeEquipment 2023-07-01 2024-06-30 3672423 core:Vehicles 2023-07-01 2024-06-30 3672423 1 2023-07-01 2024-06-30 3672423 countries:England 2023-07-01 2024-06-30 3672423 2023-06-30 3672423 bus:Director2 1 2023-06-30 3672423 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 3672423 core:FurnitureFittings 2023-06-30 3672423 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 3672423 core:MotorVehicles 2023-06-30 3672423 core:OfficeEquipment 2023-06-30 3672423 2022-07-01 2023-06-30 3672423 2023-06-30 3672423 bus:OrdinaryShareClass1 2023-06-30 3672423 bus:OrdinaryShareClass2 2023-06-30 3672423 bus:OrdinaryShareClass3 2023-06-30 3672423 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 3672423 core:CurrentFinancialInstruments 2023-06-30 3672423 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 3672423 core:Non-currentFinancialInstruments 2023-06-30 3672423 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 3672423 core:FurnitureFittings 2023-06-30 3672423 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 3672423 core:MotorVehicles 2023-06-30 3672423 core:OfficeEquipment 2023-06-30 3672423 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 3672423 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 3672423 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 3672423

Re:New Beauty Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Re:New Beauty Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 12

 

Re:New Beauty Limited

(Registration number: 3672423)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,438,055

2,503,865

Other financial assets

6

525,029

-

 

2,963,084

2,503,865

Current assets

 

Stocks

7

1,564,271

1,117,812

Debtors

8

76,645

64,344

Cash at bank and in hand

 

796,723

1,066,378

 

2,437,639

2,248,534

Creditors: Amounts falling due within one year

9

(1,120,634)

(525,018)

Net current assets

 

1,317,005

1,723,516

Total assets less current liabilities

 

4,280,089

4,227,381

Creditors: Amounts falling due after more than one year

9

(940,145)

(1,063,799)

Provisions for liabilities

367,492

288,921

Net assets

 

3,707,436

3,452,503

Capital and reserves

 

Called up share capital

10

4

4

Retained earnings

3,707,432

3,452,499

Shareholders' funds

 

3,707,436

3,452,503

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Re:New Beauty Limited

(Registration number: 3672423)
Balance Sheet as at 30 June 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................
Mr Richard Lipsitz
Director

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit A, 37 Mark Road
Hemel Hempstead Industrial Estate
HEMEL HEMPSTEAD
Herts
HP2 7DN

These financial statements were authorised for issue by the Board on 6 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, Fixtures and Equipment

25% Reducing balance

Motor Vehicles

20% Reducing balance

Freehold property

No depreciation

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Internally Developed Software

Straight Line over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 19).

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 July 2023

51,850

51,850

At 30 June 2024

51,850

51,850

Amortisation

At 1 July 2023

51,850

51,850

At 30 June 2024

51,850

51,850

Carrying amount

At 30 June 2024

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £1,446 (2023 - £1,005).
 

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 July 2023

2,239,330

864,201

5,555

84,664

Additions

-

2,152

1,208

-

Disposals

-

(5,155)

-

-

At 30 June 2024

2,239,330

861,198

6,763

84,664

Depreciation

At 1 July 2023

-

658,449

1,833

30,623

Charge for the year

-

51,501

2,296

10,808

Eliminated on disposal

-

(1,610)

-

-

At 30 June 2024

-

708,340

4,129

41,431

Carrying amount

At 30 June 2024

2,239,330

152,858

2,634

43,233

At 30 June 2023

2,239,330

205,751

4,743

54,041

Total
£

Cost or valuation

At 1 July 2023

3,193,750

Additions

3,360

Disposals

(5,155)

At 30 June 2024

3,191,955

Depreciation

At 1 July 2023

690,905

Charge for the year

64,605

Eliminated on disposal

(1,610)

At 30 June 2024

753,900

Carrying amount

At 30 June 2024

2,438,055

At 30 June 2023

2,503,865

Included within the net book value of land and buildings above is £2,239,330 (2023 - £2,239,330) in respect of freehold land and buildings.
 

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

Fair value adjustments

24,356

24,356

Additions

500,673

500,673

At 30 June 2024

525,029

525,029

Impairment

Carrying amount

At 30 June 2024

525,029

525,029

7

Stocks

2024
£

2023
£

Other inventories

1,564,271

1,117,812

8

Debtors

Current

2024
£

2023
£

Trade debtors

2

10,263

Prepayments

60,381

52,581

Other debtors

16,262

1,500

 

76,645

64,344

9

Creditors

Creditors: amounts falling due within one year

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12

45,580

-

Trade creditors

 

592,187

42,764

Taxation and social security

 

441,256

448,116

Other creditors

 

41,611

34,138

 

1,120,634

525,018

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

12

940,145

1,063,799

Creditors include bank loans which are secured of £985,725 (2022 - £1,063,7993).

Creditors include bank loans repayable by instalments of £0.00 (2023 - £0.00) due after more than five years.

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

4

4

4

4

11

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

12

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

940,145

1,063,799

Current loans and borrowings

2024
£

2023
£

Bank borrowings

45,580

-

13

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £300,000.00 (2023 - £405,620.00) per each Ordinary

600,000

811,240

Interim dividend of £Nil per each Ordinary A

-

-

Interim dividend of £Nil per each Ordinary B

-

-

600,000

811,240

14

Related party transactions

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

At 30 June 2024
£

Mr Richard Lipsitz

Personal expenses paid on behalf of Richard Lipsitz

-

14,762

14,762

 

Re:New Beauty Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

30,000

30,000

15

Financial instruments

Categorisation of financial instruments

2024
 £

2023
 £

Financial assets measured at fair value through profit or loss

525,029

-

Financial assets measured at fair value

Investment in Money Market Funds
The fair value of the money market fund investments is determined using quoted prices in an active market. These prices are readily and regularly available from the fund manager and represent actual and regularly occurring market transactions on an arm's length basis. The investments are valued using the published Net Asset Value (NAV) of the fund at the reporting date.
The company assumes that:

The published NAV represents a reliable measure of fair value as it is calculated daily based on observable market data
The fund maintains sufficient liquidity to enable redemption at NAV with minimal notice
The fund's underlying investments are actively traded in markets with sufficient volume and frequency of transactions
There are no material restrictions on redemption that would impact the fair value measurement
The fair value is £525,029 (2023 - £Nil) and the change in value included in profit or loss is £24,356 (2023 - £Nil).

16

Parent and ultimate parent undertaking

The company's immediate parent is RRDK Limited, incorporated in England & Wales.