Essentials Nail and Skin Therapy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06432956 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2019

for

ESSENTIALS NAIL AND SKIN THERAPY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Horner

Ms J Newsome

SECRETARY:

D Horner

REGISTERED OFFICE:

9 Station Road

Wombwell

South Yorkshire

S73 0AH

REGISTERED NUMBER:

06432956 (England and Wales)

ACCOUNTANTS:

Carter Smith

12/14 Church Street

Ecclesfield

Sheffield

South Yorkshire

S35 9WE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

95,214

95,845

95,214

95,845

CURRENT ASSETS

Stocks

14,000

28,500

Debtors

6

4,828

2,706

Cash at bank and in hand

14,311

16,239

33,139

47,445

CREDITORS

Amounts falling due within one year

7

81,063

82,615

NET CURRENT LIABILITIES

(47,924

)

(35,170

)

TOTAL ASSETS LESS CURRENT LIABILITIES

47,290

60,675

CREDITORS

Amounts falling due after more than one year

8

(47,835

)

(50,019

)

PROVISIONS FOR LIABILITIES

-

(1,431

)

NET (LIABILITIES)/ASSETS

(545

)

9,225

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(547

)

9,223

SHAREHOLDERS' FUNDS

(545

)

9,225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2020 and were signed on its behalf by:

D Horner - Director

1.	STATUTORY INFORMATION

Essentials Nail and Skin Therapy Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 November 2018

and 31 October 2019

23,026

AMORTISATION

At 1 November 2018

and 31 October 2019

23,026

NET BOOK VALUE

At 31 October 2019

-

At 31 October 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2018

88,312

21,845

110,157

Additions

-

764

764

At 31 October 2019

88,312

22,609

110,921

DEPRECIATION

At 1 November 2018

-

14,312

14,312

Charge for year

-

1,395

1,395

At 31 October 2019

-

15,707

15,707

NET BOOK VALUE

At 31 October 2019

88,312

6,902

95,214

At 31 October 2018

88,312

7,533

95,845

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Other debtors

4,828

2,706

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Bank loans and overdrafts

2,115

1,972

Trade creditors

2,940

2,034

Taxation and social security

5,468

4,688

Other creditors

70,540

73,921

81,063

82,615

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.19

31.10.18

£

£

Bank loans

47,835

50,019

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

37,628

40,549