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REGISTERED NUMBER: SC363813 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Aspire Aesthetics Limited

Aspire Aesthetics Limited (Registered number: SC363813)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Aspire Aesthetics Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: Mrs L Strachan
Mr N M Strachan





REGISTERED OFFICE: 3 Rose Lane
Inverurie
Aberdeenshire
AB51 3PN





REGISTERED NUMBER: SC363813 (Scotland)





ACCOUNTANTS: SBP
Accountants
42 Queens Road
Aberdeen
AB15 4YE

Aspire Aesthetics Limited (Registered number: SC363813)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,430 1,625
Tangible assets 5 312,849 375,653
314,279 377,278

CURRENT ASSETS
Stocks 27,576 29,761
Debtors 6 43,606 42,562
Cash at bank and in hand 39,161 48,954
110,343 121,277
CREDITORS
Amounts falling due within one year 7 86,602 68,698
NET CURRENT ASSETS 23,741 52,579
TOTAL ASSETS LESS CURRENT
LIABILITIES

338,020

429,857

CREDITORS
Amounts falling due after more than one
year

8

(155,307

)

(191,573

)

PROVISIONS FOR LIABILITIES (18,081 ) (22,059 )
NET ASSETS 164,632 216,225

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings 164,628 216,221
164,632 216,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Aspire Aesthetics Limited (Registered number: SC363813)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 February 2025 and were signed on its behalf by:




Mrs L Strachan - Director



Mr N M Strachan - Director


Aspire Aesthetics Limited (Registered number: SC363813)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

Aspire Aesthetics Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost and 20% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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.

Aspire Aesthetics Limited (Registered number: SC363813)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2023
and 31 August 2024 1,950
AMORTISATION
At 1 September 2023 325
Charge for year 195
At 31 August 2024 520
NET BOOK VALUE
At 31 August 2024 1,430
At 31 August 2023 1,625

Aspire Aesthetics Limited (Registered number: SC363813)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 September 2023 201,914 104,327 76,985
Additions - - -
Disposals - - -
At 31 August 2024 201,914 104,327 76,985
DEPRECIATION
At 1 September 2023 - 46,689 35,537
Charge for year - 26,082 18,504
Eliminated on disposal - - -
At 31 August 2024 - 72,771 54,041
NET BOOK VALUE
At 31 August 2024 201,914 31,556 22,944
At 31 August 2023 201,914 57,638 41,448

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 20,222 71,898 8,713 484,059
Additions - 1,015 - 1,015
Disposals - (1,494 ) - (1,494 )
At 31 August 2024 20,222 71,419 8,713 483,580
DEPRECIATION
At 1 September 2023 14,497 4,400 7,283 108,406
Charge for year 3,924 13,398 551 62,459
Eliminated on disposal - (134 ) - (134 )
At 31 August 2024 18,421 17,664 7,834 170,731
NET BOOK VALUE
At 31 August 2024 1,801 53,755 879 312,849
At 31 August 2023 5,725 67,498 1,430 375,653

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 43,606 42,562

Aspire Aesthetics Limited (Registered number: SC363813)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 18,009 18,043
Hire purchase contracts 9,440 9,440
Trade creditors 5,370 1,970
Taxation and social security 27,121 13,835
Other creditors 26,662 25,410
86,602 68,698

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 115,549 137,815
Hire purchase contracts 39,758 49,198
Other creditors - 4,560
155,307 191,573

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 71,171 83,379

9. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Mortgage Loan 111,214 123,596

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from directors subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24 31.8.23
£    £   
Mrs L Strachan
Balance outstanding at start of year (2 ) (6,457 )
Amounts advanced 157 10,745
Amounts repaid (180 ) (4,290 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (25 ) (2 )

Aspire Aesthetics Limited (Registered number: SC363813)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr N M Strachan
Balance outstanding at start of year - (133 )
Amounts advanced - 5,448
Amounts repaid (180 ) (5,315 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (180 ) -

11. RELATED PARTY DISCLOSURES

Included within other debtors is a balance due to the company of £38,000 (2023: £38,000) from Aspire Properties Ltd a company where both directors Mrs L Strachan and Mr N M Strachan are sole owners of.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors, Ms L Strachan and Mr N M Strachan who between them own 100% of the issued share capital.