Registered number
14271635
No 1 Beauty Studio Ltd
Filleted Accounts
31 August 2024
No 1 Beauty Studio Ltd
Registered number: 14271635
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,000 8,000
Tangible assets 4 8,074 7,487
14,074 15,487
Current assets
Debtors 5 - 198
Cash at bank and in hand 942 129
942 327
Creditors: amounts falling due within one year 6 (86,821) (75,701)
Net current liabilities (85,879) (75,374)
Net liabilities (71,805) (59,887)
Capital and reserves
Called up share capital 1 1
Profit and loss account (71,806) (59,888)
Shareholder's funds (71,805) (59,887)
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 her 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.
L Carter-Bridges
Director
Approved by the board on 14 April 2025
No 1 Beauty Studio Ltd
Notes to the Accounts
for the year ended 31 August 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Leasehold land and buildings over 5 years
Fixtures, fittings, tools and equipment 20% straight line basis
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 initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going concern
The company meets its day to day requirements through the continued support of the creditors and the shareholder. The director considers that the company will operate within its current facilities. However, the margin of facilities over the requirements is not large and, inherently, there can be no certainty to these matters. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would result in a withdrawal of the support of the creditors or the shareholder.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 September 2023 10,000
At 31 August 2024 10,000
Amortisation
At 1 September 2023 2,000
Provided during the year 2,000
At 31 August 2024 4,000
Net book value
At 31 August 2024 6,000
At 31 August 2023 8,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 September 2023 6,938 2,421 9,359
Additions - 2,500 2,500
At 31 August 2024 6,938 4,921 11,859
Depreciation
At 1 September 2023 1,388 484 1,872
Charge for the year 1,387 526 1,913
At 31 August 2024 2,775 1,010 3,785
Net book value
At 31 August 2024 4,163 3,911 8,074
At 31 August 2023 5,550 1,937 7,487
5 Debtors 2024 2023
£ £
Trade debtors - 198
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 217 1,142
Taxation and social security costs 207 258
Other creditors 86,397 74,301
86,821 75,701
7 Other information
No 1 Beauty Studio Ltd is a private company limited by shares and incorporated in England. Its registered office is:
River Bank House
65A Bishopstoke Road
Eastleigh
Hampshire
SO50 6BF
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