13 11 Nuriss Skincare and Wellness Limited 08957318 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is provision of skin care and beauty products. Digita Accounts Production Advanced 6.30.9574.0 true true 08957318 2023-08-01 2024-07-31 08957318 2024-07-31 08957318 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 08957318 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 08957318 core:CurrentFinancialInstruments 2024-07-31 08957318 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 08957318 core:Non-currentFinancialInstruments 2024-07-31 08957318 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 08957318 core:OtherResidualIntangibleAssets 2024-07-31 08957318 core:PatentsTrademarksLicencesConcessionsSimilar 2024-07-31 08957318 core:FurnitureFittingsToolsEquipment 2024-07-31 08957318 core:OtherPropertyPlantEquipment 2024-07-31 08957318 bus:SmallEntities 2023-08-01 2024-07-31 08957318 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 08957318 bus:FilletedAccounts 2023-08-01 2024-07-31 08957318 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08957318 bus:RegisteredOffice 2023-08-01 2024-07-31 08957318 bus:Director2 2023-08-01 2024-07-31 08957318 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08957318 core:IntangibleAssetsOtherThanGoodwill 2023-08-01 2024-07-31 08957318 core:OtherResidualIntangibleAssets 2023-08-01 2024-07-31 08957318 core:PatentsTrademarksLicencesConcessionsSimilar 2023-08-01 2024-07-31 08957318 core:ComputerEquipment 2023-08-01 2024-07-31 08957318 core:FurnitureFittingsToolsEquipment 2023-08-01 2024-07-31 08957318 core:LandBuildings 2023-08-01 2024-07-31 08957318 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 08957318 core:PlantMachinery 2023-08-01 2024-07-31 08957318 countries:EnglandWales 2023-08-01 2024-07-31 08957318 2023-07-31 08957318 core:OtherResidualIntangibleAssets 2023-07-31 08957318 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 08957318 core:FurnitureFittingsToolsEquipment 2023-07-31 08957318 core:OtherPropertyPlantEquipment 2023-07-31 08957318 2022-08-01 2023-07-31 08957318 2023-07-31 08957318 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-07-31 08957318 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-07-31 08957318 core:CurrentFinancialInstruments 2023-07-31 08957318 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 08957318 core:Non-currentFinancialInstruments 2023-07-31 08957318 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 08957318 core:OtherResidualIntangibleAssets 2023-07-31 08957318 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 08957318 core:FurnitureFittingsToolsEquipment 2023-07-31 08957318 core:OtherPropertyPlantEquipment 2023-07-31 xbrli:pure iso4217:GBP

Nuriss Skincare and Wellness Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 July 2024

Registration number: 08957318

 

Nuriss Skincare and Wellness Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 9

 

Nuriss Skincare and Wellness Limited

Balance Sheet

31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,714

10,141

Tangible assets

5

105,408

20,348

 

111,122

30,489

Current assets

 

Stocks

6

241,454

213,315

Debtors

7

246,817

130,684

Cash at bank and in hand

 

51,186

385,811

 

539,457

729,810

Creditors: Amounts falling due within one year

8

(379,484)

(845,513)

Net current assets/(liabilities)

 

159,973

(115,703)

Total assets less current liabilities

 

271,095

(85,214)

Creditors: Amounts falling due after more than one year

8

(63,994)

(18,133)

Net assets/(liabilities)

 

207,101

(103,347)

Capital and reserves

 

Called up share capital

327

286

Share premium reserve

5,732,160

4,686,054

Profit and loss account

(5,525,386)

(4,789,687)

Shareholders' funds/(deficit)

 

207,101

(103,347)

 

Nuriss Skincare and Wellness Limited

Balance Sheet

31 July 2024

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

.........................................
Dr A J Lambert
Director

Company Registration Number: 08957318

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Upper Wimpole Street
London
W1G 6LH

These financial statements were authorised for issue by the Board on 14 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Straight line

Fixtures and fittings

25% Straight line

Computer equipment

33% straight line

Leasehold improvement

15% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intangible Assets

25% Straight Line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 11).

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Website
£

Total
£

Cost or valuation

At 1 August 2023

26,345

14,740

41,085

Additions acquired separately

2,605

-

2,605

At 31 July 2024

28,950

14,740

43,690

Amortisation

At 1 August 2023

18,047

12,897

30,944

Amortisation charge

5,190

1,842

7,032

At 31 July 2024

23,237

14,739

37,976

Carrying amount

At 31 July 2024

5,713

1

5,714

At 31 July 2023

8,298

1,843

10,141

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 August 2023

70,887

520,160

591,047

Additions

2,957

98,137

101,094

At 31 July 2024

73,844

618,297

692,141

Depreciation

At 1 August 2023

65,406

505,293

570,699

Charge for the year

3,221

12,813

16,034

At 31 July 2024

68,627

518,106

586,733

Carrying amount

At 31 July 2024

5,217

100,191

105,408

At 31 July 2023

5,481

14,867

20,348

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

241,454

213,315

7

Debtors

2024
£

2023
£

Trade debtors

77,109

43,669

Prepayments

28,061

32,419

Other debtors

141,647

54,596

246,817

130,684

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

56,627

35,085

Trade creditors

 

122,762

45,796

Share capital and share premium received in advance

26,418

573,266

Taxation and social security

 

22,011

44,150

Accruals and deferred income

 

21,021

79,825

Other creditors

 

130,645

67,391

 

379,484

845,513

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

63,994

18,133

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,333

18,133

Hire purchase contracts

55,661

-

63,994

18,133

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

22,451

-

Other borrowings

24,176

25,085

56,627

35,085

 

Nuriss Skincare and Wellness Limited

Notes to the Financial Statements

Year Ended 31 July 2024

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments in respect of operating leases not included in the balance sheet is £245,824 (2023 - £324,838).