Company Registration No. 02949953 (England and Wales)
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
72,300
129,078
Tangible assets
5
25,496
30,283
Investments
6
435,863
417,965
533,659
577,326
Current assets
Debtors
7
826,994
916,758
Cash at bank and in hand
641,215
370,783
1,468,209
1,287,541
Creditors: amounts falling due within one year
8
(364,519)
(330,799)
Net current assets
1,103,690
956,742
Total assets less current liabilities
1,637,349
1,534,068
Provisions for liabilities
(22,633)
(42,095)
Net assets
1,614,716
1,491,973
Capital and reserves
Called up share capital
400
400
Profit and loss reserves
1,614,316
1,491,573
Total equity
1,614,716
1,491,973
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 April 2025 and are signed on its behalf by:
L Archer
Director
Company Registration No. 02949953
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Guild of Professional Beauty Therapists Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Firs, 320 Burton Road, Derby, DE23 6AF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Subscription income is recognised on a time-apportioned basis over the period of the subscription.

Insurance and other income are recognised at the date of sale.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website costs
33% Straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
10% reducing balance
Fixtures, fittings & equipment
20% reducing balance/33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

Investments are initially measured at transaction price, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

 

Debtors and creditors receivable/payable within one year

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.

 

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

 

Loans and borrowings

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.

 

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
10
4
Intangible fixed assets
Website costs
£
Cost
At 1 August 2023
413,837
Additions
18,718
Disposals
(18,154)
At 31 July 2024
414,401
Amortisation and impairment
At 1 August 2023
284,759
Amortisation charged for the year
58,855
Disposals
(1,513)
At 31 July 2024
342,101
Carrying amount
At 31 July 2024
72,300
At 31 July 2023
129,078
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
47,384
153,813
201,197
Additions
-
0
2,245
2,245
At 31 July 2024
47,384
156,058
203,442
Depreciation and impairment
At 1 August 2023
34,285
136,629
170,914
Depreciation charged in the year
1,310
5,722
7,032
At 31 July 2024
35,595
142,351
177,946
Carrying amount
At 31 July 2024
11,789
13,707
25,496
At 31 July 2023
13,099
17,184
30,283
6
Fixed asset investments
2024
2023
£
£
Other investments other than loans
435,863
417,965
Movements in fixed asset investments
Other
£
Cost or valuation
At 1 August 2023
417,965
Valuation changes
17,898
At 31 July 2024
435,863
Carrying amount
At 31 July 2024
435,863
At 31 July 2023
417,965
GUILD OF PROFESSIONAL BEAUTY THERAPISTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
6,875
13,159
Corporation tax recoverable
186,948
218,898
Other debtors
588,326
670,506
Prepayments and accrued income
44,845
14,195
826,994
916,758

Included in Debtors are the following amounts which are due after more than one year:

Corporation tax recoverable £186,948 (2023 - £218,898)

Other debtors £477,825 (2023 - £607,506)

 

8
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
-
0
826
Trade creditors
52,837
39,878
Corporation tax
78,973
5,360
Other taxation and social security
13,533
28,349
Other creditors
7,288
1,891
Accruals and deferred income
211,888
254,495
364,519
330,799

Obligations under finance leases are secured by fixed charges over the assets concerned.

9
Related party transactions

The company operates from premises owned by the company's pension scheme. Rent is charged for its use at commercial rates of £32,900 (2023 - £31,675). Rent has also been paid to Rebecca Archer (director) of £4,500 (2023 - £6,000).

Included in Other debtors are amounts owing by Rebecca Archer (director) of £110,501 (2023 - £185,695) and by Helen Archer (director) of £477,825 (2023 - £484,811). These loans bear interest at HMRC's official beneficial loan interest rate.

 

2024-07-312023-08-01falsefalsefalse03 April 2025CCH SoftwareCCH Accounts Production 2025.100No description of principal activityL ArcherP J ArcherMrs H E DelaneyMiss R J ArcherP J Archer029499532023-08-012024-07-31029499532024-07-31029499532023-07-3102949953core:IntangibleAssetsOtherThanGoodwill2024-07-3102949953core:IntangibleAssetsOtherThanGoodwill2023-07-3102949953core:LandBuildings2024-07-3102949953core:OtherPropertyPlantEquipment2024-07-3102949953core:LandBuildings2023-07-3102949953core:OtherPropertyPlantEquipment2023-07-3102949953core:CurrentFinancialInstrumentscore:WithinOneYear2024-07-3102949953core:CurrentFinancialInstrumentscore:WithinOneYear2023-07-3102949953core:CurrentFinancialInstruments2024-07-3102949953core:CurrentFinancialInstruments2023-07-3102949953core:ShareCapital2024-07-3102949953core:ShareCapital2023-07-3102949953core:RetainedEarningsAccumulatedLosses2024-07-3102949953core:RetainedEarningsAccumulatedLosses2023-07-3102949953bus:Director12023-08-012024-07-3102949953core:IntangibleAssetsOtherThanGoodwill2023-08-012024-07-3102949953core:ComputerSoftware2023-08-012024-07-3102949953core:LandBuildingscore:LongLeaseholdAssets2023-08-012024-07-3102949953core:FurnitureFittings2023-08-012024-07-31029499532022-08-012023-07-3102949953core:IntangibleAssetsOtherThanGoodwill2023-07-3102949953core:LandBuildings2023-07-3102949953core:OtherPropertyPlantEquipment2023-07-31029499532023-07-3102949953core:LandBuildings2023-08-012024-07-3102949953core:OtherPropertyPlantEquipment2023-08-012024-07-3102949953core:Non-currentFinancialInstruments2023-07-3102949953bus:PrivateLimitedCompanyLtd2023-08-012024-07-3102949953bus:SmallCompaniesRegimeForAccounts2023-08-012024-07-3102949953bus:FRS1022023-08-012024-07-3102949953bus:AuditExemptWithAccountantsReport2023-08-012024-07-3102949953bus:Director22023-08-012024-07-3102949953bus:Director32023-08-012024-07-3102949953bus:Director42023-08-012024-07-3102949953bus:CompanySecretary12023-08-012024-07-3102949953bus:FullAccounts2023-08-012024-07-31xbrli:purexbrli:sharesiso4217:GBP