Balance sheet continued

As at 31 July 2025

For the year ending 31 July 2025 the company was entitled to exemption 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 notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 July 2025

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  For the financial year ended 31 July 2025, the total turnover of the company, which operates as a nail technician and spa business in England, reflects the gross income generated from the provision of nail and beauty services to clients. Turnover includes all fees charged for treatments and related services, excluding VAT (if applicable). The business operates on a small scale and caters to individual clients by appointment.

  Tangible fixed assets depreciation policy

  Tangible fixed assets depreciation policy
  
  All tangible fixed assets are depreciated at a rate of 10% per annum on reducing balance basis.
  Fixtures & Fittings 10% per annum
  Plants & Equipment 10% per annum
  Office Equipment 10% per annum

  Other accounting policies

  Basis of Preparation The financial statements have been prepared under the historical cost convention and in accordance with the provisions of the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 105/FRS 102 Section 1A), as appropriate to a small company. Revenue Recognition Revenue is recognised when the services are provided to clients. This includes nail treatments, spa services, and any related retail sales. Revenue is measured at the fair value of consideration received or receivable, excluding VAT (if applicable). Stock Stock is valued at the lower of cost and net realisable value. Cost is determined using the first-in, first-out (FIFO) method and includes all costs incurred in bringing the stock to its present condition and location. Debtors and Creditors Debtors and creditors are recognised at the settlement amount due or payable. Prepayments and accrued income are recognised to match income to the correct accounting period, and accruals and deferred income are recognised for costs incurred in the period but not yet invoiced. Cash and Cash Equivalents Cash and cash equivalents include cash in hand and deposits held at call with banks. Going Concern The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.