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Registered number: 14956891
Time Out Beauty, Piercing & Aesthetics Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
JML Business Services Limited
25 Church Street
Godalming
Surrey
GU7 1EL
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2
Page 1
Statement of Financial Position
Registered number: 14956891
2024
Notes £ £
CURRENT ASSETS
Cash at bank and in hand 19,639
19,639
Creditors: Amounts Falling Due Within One Year 4 (16,426 )
NET CURRENT ASSETS (LIABILITIES) 3,213
TOTAL ASSETS LESS CURRENT LIABILITIES 3,213
NET ASSETS 3,213
CAPITAL AND RESERVES
Called up share capital 5 10
Income Statement 3,203
SHAREHOLDERS' FUNDS 3,213
For the 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.
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 Income Statement.
On behalf of the board
Mrs Annabel Chaplin
Director
17/03/2025
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Time Out Beauty, Piercing & Aesthetics Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14956891 . The registered office is 69 Hartsgrove, Chiddingfold, Godalming, Surrey, GU8 4RG.
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. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1
1
4. Creditors: Amounts Falling Due Within One Year
2024
£
Other creditors 9,810
Taxation and social security 6,616
16,426
Within other creditors there was a balance at the year end to the Director of £8,810, interest is not charged on this balance and the balance is repayable on demand.
5. Share Capital
2024
£
Allotted, Called up and fully paid 10
Page 2