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COMPANY REGISTRATION NUMBER: 14198449
Spring Leaf Aesthetics Ltd
Filleted Unaudited Financial Statements
30 June 2024
Spring Leaf Aesthetics Ltd
Financial Statements
Year ended 30 June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Spring Leaf Aesthetics Ltd
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Intangible assets
5
2,800
3,150
Tangible assets
6
3,659
4,655
-------
-------
6,459
7,805
Current assets
Debtors
7
1,296
1,296
Cash at bank and in hand
1,899
2,029
-------
-------
3,195
3,325
Creditors: amounts falling due within one year
8
25,725
21,513
--------
--------
Net current liabilities
22,530
18,188
--------
--------
Total assets less current liabilities
( 16,071)
( 10,383)
--------
--------
Net liabilities
( 16,071)
( 10,383)
--------
--------
Capital and reserves
Called up share capital
10
10
Profit and loss account
( 16,081)
( 10,393)
--------
--------
Shareholders deficit
( 16,071)
( 10,383)
--------
--------
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.
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.
Director's 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Spring Leaf Aesthetics Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 20 March 2025 , and are signed on behalf of the board by:
N Danes-Gharbaoui
Director
Company registration number: 14198449
Spring Leaf Aesthetics Ltd
Notes to the Financial Statements
Year ended 30 June 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 Suite C, The Stables Bradbourne House, East Malling, West Malling, ME19 6DZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
The director has considered the current liability position and due to the continued support of the shareholders they believe it is appropriate to continue to use the going concern basis for the preparation of the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
10 Years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the period 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 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:
Equipment
-
20% straight line
Impairment of fixed assets
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Intangible assets
Development costs
£
Cost
At 1 July 2023 and 30 June 2024
3,500
-------
Amortisation
At 1 July 2023
350
Charge for the year
350
-------
At 30 June 2024
700
-------
Carrying amount
At 30 June 2024
2,800
-------
At 30 June 2023
3,150
-------
6. Tangible assets
Equipment
£
Cost
At 1 July 2023 and 30 June 2024
4,981
-------
Depreciation
At 1 July 2023
326
Charge for the year
996
-------
At 30 June 2024
1,322
-------
Carrying amount
At 30 June 2024
3,659
-------
At 30 June 2023
4,655
-------
7. Debtors
2024
2023
£
£
Other debtors
1,296
1,296
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
25,725
21,513
--------
--------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
1
----
----
10. Related party transactions
At the year end, the company owed the director £23,679 (2023: £20,798) . No interest was charged by the directors on this balance.