| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st August 2024 |
| for |
| Beauty Kitchen UK Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31st August 2024 |
| for |
| Beauty Kitchen UK Limited |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Contents of the Financial Statements |
| for the Year Ended 31st August 2024 |
| Page |
| Abridged Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Abridged Balance Sheet |
| 31st August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Abridged Balance Sheet - continued |
| 31st August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings | ( |
) |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Notes to the Financial Statements |
| for the Year Ended 31st August 2024 |
| 1. | STATUTORY INFORMATION |
| Beauty Kitchen UK Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention. |
| Revenue recognition |
| Sales comprise the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company's activities. Sales are presented, net of value-added tax, rebates and discounts. |
| 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 when specific criteria have been met for each of the company's activities as follows: |
| Sale of goods |
| Revenue from the sale of goods is recognised at the point at which the goods have been delivered to the customer. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Improvements to property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
| 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. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors and loans from fellow group companies 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. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. |
| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss. |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| Judgements |
| The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like plant and equipment and other |
| intangibles, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss. |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Government grants |
| Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable. |
| Operating lease agreements |
| The company had total operating lease commitments at the balance sheet date of £36,104 (2023 - £114,305). |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st September 2023 |
| and 31st August 2024 |
| AMORTISATION |
| At 1st September 2023 |
| Amortisation for year |
| At 31st August 2024 |
| NET BOOK VALUE |
| At 31st August 2024 |
| At 31st August 2023 |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1st September 2023 |
| Additions |
| Disposals | ( |
) |
| At 31st August 2024 |
| DEPRECIATION |
| At 1st September 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31st August 2024 |
| NET BOOK VALUE |
| At 31st August 2024 |
| At 31st August 2023 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank overdraft |
| Hire purchase contracts | 37,017 | 52,504 |
| Invoice factoring | 63,192 | 71,438 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31st August 2024 and 31st August 2023: |
| 2024 | 2023 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Beauty Kitchen UK Limited (Registered number: SC476415) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st August 2024 |
| 9. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, the directors were owed £68,528 (2023 - £64,255) from the company. This amount is interest free, unsecured and no repayment terms have been set. |