| Registered Number:05644278 |
For the year ended 31 December 2024
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2024
Galaxy Nails Ltd
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Galaxy Nails Ltd
Statement of Financial Position
2023
2024
89
502
2
| Property, plant and equipment |
4,462
5,569
3
4,551
6,071
36,223
31,512
4
| Trade and other receivables |
914
10,018
5
34,460
| Cash and cash equivalents |
5,293
46,823
71,597
| Trade and other payables: amounts falling due within one |
| year |
(14,721)
(7,487)
6
56,876
39,336
Net current assets
| Total assets less current liabilities |
43,887
62,947
43,887
Net assets
62,947
100
100
43,787
62,847
43,887
62,947
Shareholders' funds
| For the year ended 31 December 2024 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 of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006 |
| The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| Mrs A J Chilcott Director |
| These financial statements were approved and authorised for issue by the Board on 30 September 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 December 2024
Galaxy Nails Ltd
Notes to the Financial Statements
Statutory Information
| Galaxy Nails Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
| 05644278. |
17 Faraday Mill Business Park
Faraday Road
Plymouth
PL4 0ST
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention. |
Revenue recognition
Turnover represents income from the sale of nail products at invoice value, net of VAT.
Intangible assets
| Intangilbe assets represent the costs in connection with the purchase and registering of a trademark.This is being amortised on a straightline basis over 5 years. |
Property, plant and equipment
| Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Leashold improvements
Computer equipment
Fixtures and fittings
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs. |
Deferred tax
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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For the year ended 31 December 2024
Galaxy Nails Ltd
Notes to the Financial Statements Continued
| 2. Intangible fixed assets |
2,069
2,069
1,567
413
Charge for year
1,980
89
502
| 3. Property, plant and equipment |
23,417
11,906
7,839
3,672
380
380
-
-
3,672
7,839
12,286
23,797
| Provision for depreciation and impairment |
17,848
9,060
6,870
1,918
Charge for year
1,487
806
242
439
19,335
9,866
7,112
2,357
1,315
727
2,420
4,462
1,754
969
2,846
5,569
2023
2024
31,512
36,223
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For the year ended 31 December 2024
Galaxy Nails Ltd
Notes to the Financial Statements Continued
| 5. Trade and other receivables |
2023
2024
9,228
-
790
914
914
10,018
| 6. Trade and other payables: amounts falling due within one year |
2023
2024
-
6,380
478
2,296
| Taxation and social security |
5,429
5,145
1,580
900
7,487
14,721
Included within taxation and social security is corporation tax of £Nil (2023 : £Nil).
| 7. Related party transactions |
The company is under the effective control of its directors.
| 8. Directors advances and guarantees |
Mrs A J Chilcott
Loan from director
(70)
(70)
(70)
(70)
| 9. Guarantees and other financial commitments |
| At 31 December 2024 the company had annual commitments under non-cancellable operating leases as set out |
| below: |
2023
2024
| Operating leases which expire: |
32,000
24,000
24,000
32,000
| Under FRS 102, the figures represent the full amount payable for the whole period of the lease remaining at the year |
| end. |
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For the year ended 31 December 2024
Galaxy Nails Ltd
Notes to the Financial Statements Continued
| 10. Average number of persons employed |
During the year the average number of employees was 4 (2023 : 4)
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