Registered number
05277050
Forever Young Medical Aesthetics Ltd
Filleted Accounts
30 November 2024
Forever Young Medical Aesthetics Ltd
Registered number: 05277050
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 229,724 262,038
Current assets
Stocks 40,454 39,304
Debtors 4 125,928 68,571
Cash at bank and in hand 4,395 403
170,777 108,278
Creditors: amounts falling due within one year 5 (103,767) (116,701)
Net current assets/(liabilities) 67,010 (8,423)
Total assets less current liabilities 296,734 253,615
Creditors: amounts falling due after more than one year 6 (133,843) (170,530)
Net assets 162,891 83,085
Capital and reserves
Called up share capital 775 775
Profit and loss account 162,116 82,310
Shareholder's funds 162,891 83,085
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Matthew Barnes
Director
Approved by the board on 7 April 2025
Forever Young Medical Aesthetics Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 10 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 20 18
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 562,377
Additions 10,215
At 30 November 2024 572,592
Depreciation
At 1 December 2023 300,339
Charge for the year 42,529
At 30 November 2024 342,868
Net book value
At 30 November 2024 229,724
At 30 November 2023 262,038
4 Debtors 2024 2023
£ £
Trade debtors 1,648 1,000
Other debtors 124,280 67,571
125,928 68,571
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 55,457 65,295
Trade creditors 16,348 26,607
Taxation and social security costs 12,405 20,008
Other creditors 19,557 4,791
103,767 116,701
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 133,843 170,530
7 Other information
Forever Young Medical Aesthetics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
255 Poulton Road
Wallasey
Wirral
United Kingdom
CH44 4BT
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