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Registered number: 05041511
Mint (Nails And Beauty) Limited
Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05041511
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 27,249 40,561
27,249 40,561
CURRENT ASSETS
Stocks 6 3,650 4,000
Debtors 7 33,466 65,773
Cash at bank and in hand 80,629 49,299
117,745 119,072
Creditors: Amounts Falling Due Within One Year 8 (126,425 ) (150,109 )
NET CURRENT ASSETS (LIABILITIES) (8,680 ) (31,037 )
TOTAL ASSETS LESS CURRENT LIABILITIES 18,569 9,524
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,178 ) (7,707 )
NET ASSETS 13,391 1,817
CAPITAL AND RESERVES
Called up share capital 9 110 110
Profit and Loss Account 13,281 1,707
SHAREHOLDERS' FUNDS 13,391 1,817
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
E K McDonald
Director
2 June 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Mint (Nails And Beauty) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05041511 . The registered office is The Beauty Rooms, 22 Gills Yard, Wakefield, West Yorkshire, WF1 3BZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line method
Plant & Machinery 25% Reducing Balance Method
Fixtures & Fittings 25% Reducing Balance Method
Computer Equipment 25% Reducing Balance Method
2.5. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 42 (2024: 45)
42 45
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 31,600
As at 31 March 2025 31,600
Amortisation
As at 1 April 2024 31,600
As at 31 March 2025 31,600
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 April 2024 121,142 10,362 10,658 13,471 155,633
As at 31 March 2025 121,142 10,362 10,658 13,471 155,633
Depreciation
As at 1 April 2024 85,365 9,293 9,099 11,315 115,072
Provided during the period 12,115 268 390 539 13,312
As at 31 March 2025 97,480 9,561 9,489 11,854 128,384
Net Book Value
As at 31 March 2025 23,662 801 1,169 1,617 27,249
As at 1 April 2024 35,777 1,069 1,559 2,156 40,561
6. Stocks
2025 2024
£ £
Stock 3,650 4,000
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 2,245 -
Other debtors 31,221 65,773
33,466 65,773
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Page 5
8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 22,002 4,399
Other creditors 23,333 86,044
Taxation and social security 81,090 59,666
126,425 150,109
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 110 110
Page 5