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REGISTERED NUMBER: 03564435 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

WARPAINT COSMETICS LIMITED

WARPAINT COSMETICS LIMITED (REGISTERED NUMBER: 03564435)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARPAINT COSMETICS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: E Macleod
S Bazini





REGISTERED OFFICE: 2 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD





REGISTERED NUMBER: 03564435 (England and Wales)





ACCOUNTANTS: Pesters
2 Park Court
Pyrford Road
West Byfleet
Surrey
KT14 6SD

WARPAINT COSMETICS LIMITED (REGISTERED NUMBER: 03564435)

BALANCE SHEET
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,108 22,080
Investment property 5 12,864,956 12,864,956
12,880,064 12,887,036

CURRENT ASSETS
Debtors 6 67,282 1,082,812
Cash at bank 242,590 70,796
309,872 1,153,608
CREDITORS
Amounts falling due within one year 7 4,503,451 5,613,684
NET CURRENT LIABILITIES (4,193,579 ) (4,460,076 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,686,485

8,426,960

CREDITORS
Amounts falling due after more than one
year

8

(3,287,000

)

(3,390,000

)

PROVISIONS FOR LIABILITIES (480,714 ) (358,693 )
NET ASSETS 4,918,771 4,678,267

CAPITAL AND RESERVES
Called up share capital 2 2
Other reserves 9 1,442,142 1,529,163
Retained earnings 3,476,627 3,149,102
SHAREHOLDERS' FUNDS 4,918,771 4,678,267

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

WARPAINT COSMETICS LIMITED (REGISTERED NUMBER: 03564435)

BALANCE SHEET - continued
31 May 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 Income Statement 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:





E Macleod - Director


WARPAINT COSMETICS LIMITED (REGISTERED NUMBER: 03564435)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Warpaint 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

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 as modified by the revaluation of certain assets.

Investment property
Investment properties are held for long-term rental yields and are not occupied by the group. They are carried at fair value with any aggregate surplus or deficit arising from such changes are presented in the profit or loss as part of other income.

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

3. EMPLOYEES AND DIRECTORS

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

WARPAINT COSMETICS LIMITED (REGISTERED NUMBER: 03564435)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 35,464
DEPRECIATION
At 1 June 2023 13,384
Charge for year 6,972
At 31 May 2024 20,356
NET BOOK VALUE
At 31 May 2024 15,108
At 31 May 2023 22,080

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 12,864,956
Disposals (35,000 )
Revaluations 35,000
At 31 May 2024 12,864,956
NET BOOK VALUE
At 31 May 2024 12,864,956
At 31 May 2023 12,864,956

The investment properties were previously valued by an independent valuer with a recognised and relevant professional qualification and with relevant experience in the investment properties being valued.
The valuation techniques used were;

Market rent - The estimated amount for which an interest in real property should be leased on the valuation date between a willing lessor and a willing lessee on appropriate lease terms in an arm's length transaction.
The following assumptions have been made: Void assumptions - in terms of void allowances, they have allowed for a marketing void of 6 months and a rent free period of 3-9 months. Cost assumptions - No major costs expected in the short term - which is consistent with the age of the property. In assessing the opinion of the market rent they have given consideration to the statistics in the local Industrial Market as well as spoken with a number of agents and comparable evidence.

The directors have used this information gained to calculate their revaluations in the current period also the taking into account the value of other sales for like for like properties in the immediate area to ensure the revaluations continue to represent the market value at the year end.

WARPAINT COSMETICS LIMITED (REGISTERED NUMBER: 03564435)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024


5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2017 1,333
Valuation in 2018 (86,604 )
Valuation in 2019 (102,175 )
Valuation in 2021 395,301
Valuation in 2022 (70,000 )
Valuation in 2023 1,750,000
Valuation in 2024 35,000
Cost 10,942,101
12,864,956

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 41,011 41,011
Other debtors 26,271 1,041,801
67,282 1,082,812

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 110,000 1,295,077
Payments on account 24,456 -
Trade creditors - 1,205
Taxation and social security 151,191 142,152
Other creditors 4,217,804 4,175,250
4,503,451 5,613,684

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 3,287,000 3,390,000

9. RESERVES
Other
reserves
£   
At 1 June 2023 1,529,163
Non distributable reserves (87,021 )

At 31 May 2024 1,442,142

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed Mr S Bazini £2,077,362 (2023 - £2,077,362) and Mr E MacLeod £2,077,367 (2023 - £2,077,367). These loans are interest free and repayable on demand.