Universal Toiletries Corporation Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03866950

Universal Toiletries Corporation Ltd

Filleted Unaudited Financial Statements

31 December 2024

Universal Toiletries Corporation Ltd

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		62,099	81,544

Current assets

Stocks		447,823	535,829
Debtors	7	2,795,887	2,399,406
Cash at bank and in hand		5,166,405	3,979,953
		-----------	-----------
		8,410,115	6,915,188

Creditors: amounts falling due within one year	8	6,292,038		3,369,883
		-----------		-----------
Net current assets			2,118,077	3,545,305
			-----------	-----------
Total assets less current liabilities			2,180,176	3,626,849

Creditors: amounts falling due after more than one year	9		39,583	51,291

Provisions

Taxation including deferred tax	15,525	20,386
	-----------	-----------
Net assets	2,125,068	3,555,172
	-----------	-----------

Capital and reserves

Called up share capital	2	2
Profit and loss account	2,125,066	3,555,170
	-----------	-----------
Shareholders funds	2,125,068	3,555,172
	-----------	-----------

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 .

Universal Toiletries Corporation Ltd

Statement of Financial Position (continued)

31 December 2024

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	V Shah
Director	Director

Company registration number: 03866950

Universal Toiletries Corporation Ltd

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

Deferred tax is measured on a discounted / an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and equipment	-	25% reducing balance
Motor vehicle	-	25% reducing balance
Office equipment	-	33 % reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable/payable and loans from third parties.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2023: 8 ).

5. Tax on profit

Major components of tax expense

	2024	2023
	£	£

Current tax:

UK current tax expense	365,775	301,916

Deferred tax:

Origination and reversal of timing differences	( 4,861)	( 113)
	---------	---------
Tax on profit	360,914	301,803
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 23.52 %).

	2024	2023
	£	£
Profit on ordinary activities before taxation	1,430,810	1,257,107
	-----------	-----------
Profit on ordinary activities by rate of tax	357,703	295,678
Effect of expenses not deductible for tax purposes	3,211	40
Effect of capital allowances and depreciation	4,861	6,198
Deferred tax	(4,861)	(113)
	-----------	-----------
Tax on profit	360,914	301,803
	-----------	-----------

6. Tangible assets

	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 January 2024	27,707	168,087	17,617	213,411
Additions	–	–	1,866	1,866
	-------	---------	-------	---------
At 31 December 2024	27,707	168,087	19,483	215,277
	-------	---------	-------	---------
Depreciation
At 1 January 2024	25,113	92,771	13,983	131,867
Charge for the year	649	18,829	1,833	21,311
	-------	---------	-------	---------
At 31 December 2024	25,762	111,600	15,816	153,178
	-------	---------	-------	---------
Carrying amount
At 31 December 2024	1,945	56,487	3,667	62,099
	-------	---------	-------	---------
At 31 December 2023	2,594	75,316	3,634	81,544
	-------	---------	-------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	1,045,112	1,315,704
Other debtors	1,750,775	1,083,702
	-----------	-----------
	2,795,887	2,399,406
	-----------	-----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	863,026	1,235,916
Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,936,734	1,711,144
Corporation tax	180,008	254,527
Social security and other taxes	164,332	127,098
Other creditors	147,938	41,198
	-----------	-----------
	6,292,038	3,369,883
	-----------	-----------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Other creditors	39,583	51,291
	-------	-------

10.

11. Controlling party

The ultimate holding company is Freestyle Beauty Products Limited, a company incorporated in England.