Face & Skin Limited - Period Ending 2019-03-31
Face & Skin Limited - Period Ending 2019-03-31
Registration number:
Face & Skin Limited
for the Year Ended 31 March 2019
Chartered Certified Accountant
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Herts
SG4 0TW
Face & Skin Limited
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
Face & Skin Limited
Company Information
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Director |
Dr Rahul Shah |
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Company secretary |
Dr Rahul Shah |
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Registered office |
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Accountants |
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Page 1 |
Face & Skin Limited
Strategic Report for the Year Ended 31 March 2019
The director presents his strategic report for the year ended 31 March 2019.
Principal activity
The principal activity of the company is Cosmetics and Therapy Activities
Approved by the
.........................................
Company secretary and director
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Page 2 |
Face & Skin Limited
Director's Report for the Year Ended 31 March 2019
The director presents his report and the financial statements for the year ended 31 March 2019.
Director of the company
The director who held office during the year was as follows:
Financial instruments
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Companies Act 2006.
Approved by the
.........................................
Company secretary and director
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Page 3 |
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Face & Skin Limited
for the Year Ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Face & Skin Limited for the year ended 31 March 2019 as set out on pages 5 to 12 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of Face & Skin Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Face & Skin Limited and state those matters that we have agreed to state to the Board of Directors of Face & Skin Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Face & Skin Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Face & Skin Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Face & Skin Limited. You consider that Face & Skin Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Face & Skin Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Certified Accountant
Wilbury Way
Hitchin
Herts
SG4 0TW
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Page 4 |
Face & Skin Limited
Profit and Loss Account for the Year Ended 31 March 2019
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Note |
2019 |
2018 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
( |
( |
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Other interest receivable and similar income |
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2 |
2 |
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Loss before tax |
( |
( |
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Loss for the financial year |
( |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
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Page 5 |
Face & Skin Limited
Statement of Comprehensive Income for the Year Ended 31 March 2019
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2019 |
2018 |
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Loss for the year |
( |
( |
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Total comprehensive income for the year |
( |
( |
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Page 6 |
Face & Skin Limited
(Registration number: 09964525)
Balance Sheet as at 31 March 2019
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Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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- |
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Current assets |
|||
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
|||
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Called up share capital |
( |
( |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved and authorised by the
.........................................
Company secretary and director
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Page 7 |
Face & Skin Limited
Statement of Changes in Equity for the Year Ended 31 March 2019
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Share capital |
Profit and loss account |
Total |
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At 1 April 2018 |
( |
( |
( |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 31 March 2019 |
( |
( |
( |
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Share capital |
Profit and loss account |
Total |
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At 1 April 2017 |
( |
( |
( |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 31 March 2018 |
( |
( |
( |
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Page 8 |
Face & Skin Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
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Page 9 |
Face & Skin Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixture and Fittings |
Reducing Balance 20% |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Revenue |
The analysis of the company's revenue for the year from continuing operations is as follows:
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2019 |
2018 |
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Sale of goods |
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Rendering of services |
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- |
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Operating loss |
Arrived at after charging/(crediting)
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2019 |
2018 |
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Depreciation expense |
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- |
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Other interest receivable and similar income |
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2019 |
2018 |
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Interest income on bank deposits |
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Page 10 |
Face & Skin Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
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Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
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2019 |
2018 |
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Wages and salaries |
- |
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Other employee expense |
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The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
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2019 |
2018 |
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Administration and support |
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Page 11 |
Face & Skin Limited
Notes to the Financial Statements for the Year Ended 31 March 2019
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2019 |
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Depreciation |
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Charge for the year |
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At 31 March 2019 |
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Carrying amount |
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At 31 March 2019 |
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Cash and cash equivalents |
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2019 |
2018 |
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Cash at bank |
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Creditors |
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Note |
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Amounts due to related parties |
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Other payables |
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Share capital |
Allotted, called up and fully paid shares
|
2019 |
2018 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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Page 12 |
Face & Skin Limited
Detailed Profit and Loss Account for the Year Ended 31 March 2019
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2019 |
2018 |
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Turnover (analysed below) |
38,500 |
18,948 |
|
Cost of sales (analysed below) |
(19,037) |
(13,982) |
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Gross profit |
19,463 |
4,966 |
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Gross profit (%) |
50.55% |
26.21% |
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Administrative expenses |
||
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Employment costs (analysed below) |
(368) |
(3,537) |
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Establishment costs (analysed below) |
(13,249) |
(1,068) |
|
General administrative expenses (analysed below) |
(13,857) |
(6,273) |
|
Finance charges (analysed below) |
(90) |
(104) |
|
Depreciation costs (analysed below) |
(98) |
- |
|
(27,662) |
(10,982) |
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Operating loss |
(8,199) |
(6,016) |
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Other interest receivable and similar income (analysed below) |
2 |
2 |
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Loss before tax |
(8,197) |
(6,014) |
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Page 13 |
Face & Skin Limited
Detailed Profit and Loss Account for the Year Ended 31 March 2019
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2019 |
2018 |
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Turnover |
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Procedures Fee |
33,338 |
18,948 |
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Procedures - Cash |
3,750 |
- |
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ASNP |
1,412 |
- |
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38,500 |
18,948 |
|
Cost of sales |
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Drugs and Medical Supplies |
(19,037) |
(13,982) |
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Employment costs |
||
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Wages and salaries (excluding directors) |
- |
(3,317) |
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Courses and Conferences |
(162) |
- |
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Staff Training and welfare |
(206) |
(220) |
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(368) |
(3,537) |
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Establishment costs |
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Room Hire |
(12,150) |
(68) |
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Use of home as office |
(720) |
(520) |
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Repairs and maintenance |
(379) |
(480) |
|
(13,249) |
(1,068) |
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General administrative expenses |
||
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Telephone |
(1,919) |
(691) |
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Computer software and maintenance costs |
(506) |
(480) |
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Printing, postage and stationery |
(444) |
(351) |
|
Motor expenses |
(573) |
(540) |
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Insurance |
(1,457) |
(874) |
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Travel and subsistence |
(797) |
(733) |
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Advertising |
(2,879) |
(2,166) |
|
Accountancy fees |
(780) |
(438) |
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Subscriptions |
(35) |
- |
|
Equipment Rental |
(4,467) |
- |
|
(13,857) |
(6,273) |
|
Finance charges |
||
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Bank charges |
(90) |
(104) |
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Depreciation costs |
||
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Depreciation of fixtures and fittings (owned) |
(98) |
- |
|
Other interest receivable and similar income |
||
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Bank interest receivable |
2 |
2 |
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Page 14 |