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Registered number: 08073523
Love To B Skincare Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Artema Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08073523
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,106 6,808
Tangible Assets 5 26,889 31,323
31,995 38,131
CURRENT ASSETS
Stocks 6 53,874 56,801
Debtors 7 16,208 16,276
Cash at bank and in hand 28,241 22,237
98,323 95,314
Creditors: Amounts Falling Due Within One Year 8 (59,163 ) (61,884 )
NET CURRENT ASSETS (LIABILITIES) 39,160 33,430
TOTAL ASSETS LESS CURRENT LIABILITIES 71,155 71,561
Creditors: Amounts Falling Due After More Than One Year 9 - (756 )
NET ASSETS 71,155 70,805
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 71,055 70,705
SHAREHOLDERS' FUNDS 71,155 70,805
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Julie Astley-Weston
Director
29/07/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Love To B Skincare Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08073523 . The registered office is Unit 5 Aerial Park, Uddens Trading Estate, Wimborne, Dorset, BH21 7NL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Website. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 6 Years Straight Line
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 3 Years Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 9)
12 9
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4. Intangible Assets
Other
£
Cost
As at 1 June 2023 8,510
As at 31 May 2024 8,510
Amortisation
As at 1 June 2023 1,702
Provided during the period 1,702
As at 31 May 2024 3,404
Net Book Value
As at 31 May 2024 5,106
As at 1 June 2023 6,808
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 25,559 6,101 19,766 4,149 55,575
Additions - - 400 1,061 1,461
As at 31 May 2024 25,559 6,101 20,166 5,210 57,036
Depreciation
As at 1 June 2023 4,153 4,943 12,652 2,504 24,252
Provided during the period 3,736 290 1,127 742 5,895
As at 31 May 2024 7,889 5,233 13,779 3,246 30,147
Net Book Value
As at 31 May 2024 17,670 868 6,387 1,964 26,889
As at 1 June 2023 21,406 1,158 7,114 1,645 31,323
6. Stocks
2024 2023
£ £
Stock 31,602 27,157
Finished goods 22,272 29,644
53,874 56,801
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7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 15,781 15,116
Other debtors 427 1,160
16,208 16,276
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 27 3,660
Other taxes and social security 538 624
VAT 6,574 6,335
Other loan 756 2,143
Pensions creditor 256 256
Accruals and deferred income 3,670 2,570
Director's loan account 47,342 46,296
59,163 61,884
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Loan - 756
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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