Company Registration No. 12169316 (England and Wales)
AESTHETICS LIFE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
AESTHETICS LIFE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
AESTHETICS LIFE LTD
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
25,985
29,788
Current assets
Debtors
4
26,092
8,060
Cash at bank and in hand
2,962
1,435
29,054
9,495
Creditors: amounts falling due within one year
5
(65,506)
(139,852)
Net current liabilities
(36,452)
(130,357)
Total assets less current liabilities
(10,467)
(100,569)
Creditors: amounts falling due after more than one year
6
(36,832)
(43,543)
Net liabilities
(47,299)
(144,112)
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
(47,300)
(144,113)
Total equity
(47,299)
(144,112)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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 and signed by the director and authorised for issue on 27 May 2025
Dr H S Singh
Director
Company registration number 12169316 (England and Wales)
AESTHETICS LIFE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Aesthetics Life Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 11 Tates Way, Stevenage, Hertfordshire, United Kingdom, SG1 4WP.
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 £1.
The financial statements have been prepared under the historical cost convention, modified to certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on a going concern basis. The continuation of the company's activities is dependent on the availability of the financial support from the director, who have provided financial support to enable the company to meet its liabilities.
The company has net current liabilities of £36,452 (2023: £130,357) and overall net liabilities of £47,299 (2023: £144,112).
In forming this opinion, the director has also confirmed that he will continue to support the company for the foreseeable future, explicitly for at least the next twelve months from the date these accounts are approved.
1.3
Turnover
Turnover represents fees receivable from aesthetics services. Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, and rebates.
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:
Leasehold improvements
10 years
Fixtures and fittings
20% Reducing Balance Method
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.
1.6
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
AESTHETICS LIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
1.8
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.
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.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
AESTHETICS LIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 September 2023 and 31 August 2024
35,923
1,669
37,592
Depreciation and impairment
At 1 September 2023
7,184
620
7,804
Depreciation charged in the year
3,593
210
3,803
At 31 August 2024
10,777
830
11,607
Carrying amount
At 31 August 2024
25,146
839
25,985
At 31 August 2023
28,739
1,049
29,788
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,547
8,060
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
21,545
Total debtors
26,092
8,060
AESTHETICS LIFE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,712
3,899
Trade creditors
320
585
Taxation and social security
1,542
Other creditors
58,474
133,826
65,506
139,852
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
36,832
43,543
In 2021, the company borrowed £50,000 from its bankers through the Recovery Loan Scheme. The loan term is 6 years and is repayable in monthly instalments. The loan attracts a fixed interest rate of 2.5% per annum.
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
112,000
128,000
9
Events after the reporting date
As a result of re-organisation, the parent company from 29 October 2024 was Sarai Singh Group Ltd. There was no change to the ultimate controlling party as a result of this re-organisation.
10
Parent company
The ultimate parent company is Sarai Singh Group Ltd, incorporated in United Kingdom. The registered office is 85 Great Portland Street, First Floor, London, England, W1W 7LT.