Freestyle Beauty Products Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03816435

Freestyle Beauty Products Limited

Filleted Unaudited Financial Statements

31 December 2024

Freestyle Beauty Products Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	5		2	2

Current assets

Debtors	6	4,936,734	1,711,144
Cash at bank and in hand		1,084,402	1,768,441
		-----------	-----------
		6,021,136	3,479,585

Creditors: amounts falling due within one year	7	26,138		–
		-----------		-----------
Net current assets			5,994,998	3,479,585
			-----------	-----------
Total assets less current liabilities			5,995,000	3,479,587
			-----------	-----------

Capital and reserves

Called up share capital	100	100
Profit and loss account	5,994,900	3,479,487
	-----------	-----------
Shareholders funds	5,995,000	3,479,587
	-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

K Shah

Director

Company registration number: 03816435

Freestyle Beauty Products Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 7 Bermer Place, Imperial Way, Watford, WD24 4AY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	26,138	–
	-------	----
Tax on profit	26,138	–
	-------	----

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2023: the same as) the standard rate of corporation tax in the UK of 25 % (2023: -%).

	2024	2023
	£	£
Profit on ordinary activities before taxation	2,604,551	1,070,000
	-----------	-----------
Profit on ordinary activities by rate of tax	293,638	–
Effect of revenue exempt from tax	( 267,500)	–
	-----------	-----------
Tax on profit	26,138	–
	-----------	-----------

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	2
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	2
	----
At 31 December 2023	2
	----

The company owns the whole of the issued share capital of Universal Toiletries Corporation Ltd. The principal activity of the company is that of contract manufacturing and wholesale of toiletries. At the year end the aggregate of the share capital and reserves of Universal Toiletries Corporation Ltd amounted to £2,125,068 (2023 - £3,555,172) and the profit for the year was £1,069,896 (2023 - £955,304).

6. Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	4,936,734	1,711,144
	-----------	-----------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Corporation tax	26,138	–
	-------	----