Company No:
Contents
Director | M Clausen |
Registered office | 85 Great Portland Street |
First Floor | |
W1W 7LT | |
London | |
United Kingdom |
Company number | 12211151 (England and Wales) |
Accountant | Kreston Reeves LLP |
2nd Floor | |
168 Shoreditch High Street | |
London | |
E1 6RA |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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236 | 472 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand | 5 |
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3,284 | 35,491 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (38,851) | (47,534) | ||
Total assets less current liabilities | (38,615) | (47,062) | ||
Net liabilities | (
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of A Close Shave UK Limited (registered number:
M Clausen
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
A Close Shave UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 85 Great Portland Street, First Floor, W1W 7LT, London, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The financial statements have been prepared under the going concern basis despite the company reporting net liabilities of £38,615 (2023: £47,062) as at 31 December 2024. The company is reliant upon the continued support of its parent company, Commonwealth APS, which has indicated that it will continue to support the company for at least 12 months from the date of approval of these accounts.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Plant and machinery etc. |
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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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 01 January 2024 |
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At 31 December 2024 |
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Accumulated depreciation | |||
At 01 January 2024 |
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Charge for the financial year |
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At 31 December 2024 |
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Net book value | |||
At 31 December 2024 |
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At 31 December 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Other debtors |
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2024 | 2023 | ||
£ | £ | ||
Cash at bank and in hand |
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2024 | 2023 | ||
£ | £ | ||
Other taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Pensions
The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions payable by the Company to the fund and amounted to £3,153 (2023: £1,584). Contributions totalling £341 (2023: £541 repayable) were payable to the fund at the balance sheet date.
Transactions with entities in which the entity itself has a participating interest
2024 | 2023 | ||
£ | £ | ||
Amount due to Commonwealth APS, the parent company | 37,103 | 68,907 |