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Company registration number: 11382521
Beauty&Vitality Limited
Unaudited filleted financial statements
31 May 2024
Beauty&Vitality Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Beauty&Vitality Limited
Directors and other information
Directors Christopher Barrow
Lysa Hardy
Nicola Silverlock (Appointed 1 October 2023)
Daniel Rippon (Appointed 1 October 2023)
Company number 11382521
Registered office Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Beauty&Vitality Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Beauty&Vitality Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beauty&Vitality Limited for the year ended 31 May 2024 which comprise the statement of financial position, statement of changes in equity and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Beauty&Vitality Limited, as a body, in accordance with the terms of our engagement letter dated 28 February 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Beauty&Vitality Limited and state those matters that we have agreed to state to the board of directors of Beauty&Vitality Limited as a body, 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 Beauty&Vitality Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Beauty&Vitality 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 Beauty&Vitality Limited. You consider that Beauty&Vitality 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 Beauty&Vitality 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.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
27 February 2025
Beauty&Vitality Limited
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1 1
_______ _______
1 1
Current assets
Stocks 7,803 36,709
Debtors 6 4,050 613
Cash at bank and in hand 8,435 7,977
_______ _______
20,288 45,299
Creditors: amounts falling due
within one year 7 ( 2,832) ( 148,837)
_______ _______
Net current assets/(liabilities) 17,456 ( 103,538)
_______ _______
Total assets less current liabilities 17,457 ( 103,537)
_______ _______
Net assets/(liabilities) 17,457 ( 103,537)
_______ _______
Capital and reserves
Called up share capital 194,950 200
Profit and loss account ( 177,493) ( 103,737)
_______ _______
Shareholders funds/(deficit) 17,457 ( 103,537)
_______ _______
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.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
Christopher Barrow
Director
Company registration number: 11382521
Beauty&Vitality Limited
Statement of changes in equity
Year ended 31 May 2024
Called up share capital Profit and loss account Total
£ £ £
At 1 June 2022 100 ( 73,687) ( 73,587)
Loss for the year ( 30,050) ( 30,050)
_______ _______ _______
Total comprehensive income for the year - ( 30,050) ( 30,050)
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 May 2023 and 1 June 2023 200 ( 103,737) ( 103,537)
Loss for the year ( 73,756) ( 73,756)
_______ _______ _______
Total comprehensive income for the year - ( 73,756) ( 73,756)
Issue of shares 194,750 194,750
_______ _______ _______
Total investments by and distributions to owners 194,750 - 194,750
_______ _______ _______
At 31 May 2024 194,950 ( 177,493) 17,457
_______ _______ _______
Beauty&Vitality Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment - 50 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 2 ).
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 June 2023 and 31 May 2024 733 733
_______ _______
Depreciation
At 1 June 2023 and 31 May 2024 732 732
_______ _______
Carrying amount
At 31 May 2024 1 1
_______ _______
At 31 May 2023 1 1
_______ _______
6. Debtors
2024 2023
£ £
Other debtors 4,050 613
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 138 -
Trade creditors 1,914 413
Other creditors 780 148,424
_______ _______
2,832 148,837
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Christopher Barrow ( 70,304) 70,499 195
_______ _______ _______
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Christopher Barrow ( 72,849) 45 (72,804)
_______ _______ _______