RAW SKIN LIMITED Small abridged accounts

RAW SKIN LIMITED Small abridged accounts

RAW SKIN LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of RAW SKIN LIMITED have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 July 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 10856521
RAW SKIN LIMITED
Unaudited Abridged Financial Statements
31 July 2018
RAW SKIN LIMITED
Abridged Financial Statements
Year ended 31 July 2018
Contents
Page
Director's report
1
Abridged statement of comprehensive income
2
Abridged statement of financial position
3
Statement of changes in equity
4
Notes to the abridged financial statements
5
The following pages do not form part of the abridged financial statements
Detailed abridged income statement
8
Notes to the detailed abridged income statement
9
RAW SKIN LIMITED
Director's Report
Year ended 31 July 2018
The director presents his report and the unaudited abridged financial statements of the company for the Year ended 31 July 2018 .
Director
The director who served the company during the Year was as follows:
Mr Ahmed
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 October 2018 and signed on behalf of the board by:
Mr Ahmed
Director
Registered office:
123-127 New Road
London
E1 1HJ
RAW SKIN LIMITED
Abridged Statement of Comprehensive Income
Year ended 31 July 2018
2018
Note
£
Gross profit
221,066
Administrative expenses
130,146
---------
Operating profit
90,920
---------
Profit before taxation
90,920
Tax on profit
17,275
--------
Profit for the financial year and total comprehensive income
73,645
--------
All the activities of the company are from continuing operations.
The company has no other recognised items of income and expenses other than the results for the Year as set out above.
RAW SKIN LIMITED
Abridged Statement of Financial Position
31 July 2018
2018
Note
£
Current assets
Debtors
29,523
Cash at bank and in hand
72,107
---------
101,630
Creditors: amounts falling due within one year
42,918
---------
Net current assets
58,712
--------
Total assets less current liabilities
58,712
Creditors: amounts falling due after more than one year
9,983
Provisions
83
--------
Net assets
48,646
--------
Capital and reserves
Called up share capital
1
Profit and loss account
48,645
--------
Shareholders funds
48,646
--------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the Year ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the Year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 25 October 2018 , and are signed on behalf of the board by:
Mr Ahmed
Director
Company registration number: 10856521
RAW SKIN LIMITED
Statement of Changes in Equity
Year ended 31 July 2018
Called up share capital
Profit and loss account
Total
£
£
£
At 1 August 2017
–
–
–
Profit for the year
73,645
73,645
----
--------
--------
Total comprehensive income for the year
–
73,645
73,645
Issue of shares
1
–
1
Dividends paid and payable
–
( 25,000)
( 25,000)
----
--------
--------
Total investments by and distributions to owners
1
( 25,000)
( 24,999)
----
--------
--------
At 31 July 2018
1
48,645
48,646
----
--------
--------
RAW SKIN LIMITED
Notes to the Abridged Financial Statements
Year ended 31 July 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 123-127 New Road, London, E1 1HJ.
2. Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 August 2016. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 5.
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 abridged 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.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the Year amounted to 13 .
5. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 August 2016.
No transitional adjustments were required in equity or profit or loss for the year.
RAW SKIN LIMITED
Management Information
Year ended 31 July 2018
The following pages do not form part of the abridged financial statements.
RAW SKIN LIMITED
Detailed Abridged Income Statement
Year ended 31 July 2018
2018
£
Turnover
Sales
227,975
Cost of sales
Purchases
6,909
---------
Gross profit
221,066
Overheads
Administrative expenses
130,146
---------
Operating profit
90,920
---------
Profit before taxation
90,920
---------
RAW SKIN LIMITED
Notes to the Detailed Abridged Income Statement
Year ended 31 July 2018
2018
£
Administrative expenses
Wages and salaries
107,734
Staff pension contributions - defined contribution
136
Rent
12,699
Rates and water
748
Light and heat
1,839
Insurance
2,056
Repairs and maintenance (allowable)
1,891
Cleaning costs
504
Motor expenses
73
Travel and subsistence
73
Telephone
126
Office expenses
28
Printing
543
Legal and professional fees (allowable)
224
Accountancy fees
1,400
Bank charges
72
---------
130,146
---------