The Airbrush Company Limited
Statement of financial position
as at 30 June 2024
Tangible assets
45,213
54,114
Inventories
385,829
399,556
Cash at bank and in hand
236,741
120,035
Creditors: amounts falling due within one year
(225,619)
(137,975)
Net current assets
425,120
414,559
Total assets less current liabilities
470,333
468,673
Provisions for liabilities
Deferred tax
(5,216)
(6,816)
Net assets
465,117
461,857
Called up share capital
1,000
1,000
Profit and loss account
464,117
460,857
Shareholders' funds
465,117
461,857
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 26 March 2025 and were signed on its behalf by
Kenneth Medwell
Director
Company Registration No. 02714140
The Airbrush Company Limited
Notes to the Accounts
for the year ended 30 June 2024
The Airbrush Company Limited is a private company, limited by shares, registered in England and Wales, registration number 02714140. The registered office is 79 Marlborough Road, Lancing Business Park, Lancing, West Sussex, BN15 8UF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Fixtures & fittings
2% on cost
Computer equipment
25% on reducing balance
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 July 2023
63,555
24,000
87,134
174,689
At 30 June 2024
64,185
24,000
87,234
175,419
At 1 July 2023
36,172
5,760
78,643
120,575
Charge for the year
7,003
480
2,148
9,631
At 30 June 2024
43,175
6,240
80,791
130,206
At 30 June 2024
21,010
17,760
6,443
45,213
At 30 June 2023
27,383
18,240
8,491
54,114
The Airbrush Company Limited
Notes to the Accounts
for the year ended 30 June 2024
Amounts falling due within one year
Trade debtors
19,787
26,094
Accrued income and prepayments
2,293
3,488
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
122,619
30,029
Taxes and social security
4,548
(625)
Other creditors
55,633
62,386
Loans from directors
21,702
20,920
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
8
Average number of employees
During the year the average number of employees was 7 (2023: 8).