Body Art Piercing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC206245 (Scotland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2020

FOR

BODY ART PIERCING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J B R McKenzie

SECRETARY:

Www.firstregistrars.co.uk Limited

REGISTERED OFFICE:

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

REGISTERED NUMBER:

SC206245 (Scotland)

ACCOUNTANTS:

Firstax Limited

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

CURRENT ASSETS

Stocks

5

270

450

Debtors

6

261

1,287

Cash at bank

5,817

216

6,348

1,953

CREDITORS

Amounts falling due within one year

7

4,515

1,757

NET CURRENT ASSETS

1,833

196

TOTAL ASSETS LESS CURRENT LIABILITIES

1,833

196

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

1,733

96

SHAREHOLDERS' FUNDS

1,833

196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 21st December 2020 and were signed by:

Mr J B R McKenzie - Director

1.	STATUTORY INFORMATION

Body Art Piercing Limited is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st June 2019

210

20

230

Disposals

-

(20

)

(20

)

At 31st May 2020

210

-

210

DEPRECIATION

At 1st June 2019

210

20

230

Eliminated on disposal

-

(20

)

(20

)

At 31st May 2020

210

-

210

NET BOOK VALUE

At 31st May 2020

-

-

-

At 31st May 2019

-

-

-

5.

STOCKS

31.5.20

31.5.19

£

£

Stocks

270

450

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Other debtors

261

-

Directors' loan accounts

-

1,287

261

1,287

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.20

31.5.19

£

£

Tax

853

1,522

Social security and other taxes

2,712

187

Other creditors

314

-

Directors' loan accounts

264

-

Accrued expenses

372

48

4,515

1,757

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

100

Ordinary

1

100

100

9.

RESERVES

Retained

earnings

£

At 1st June 2019

96

Profit for the year

3,637

Dividends

(2,000

)

At 31st May 2020

1,733

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

At 31st May 2020, Body Art Piercing Limited owed Mr J McKenzie (Director) £264 (2019: (£1,287)).This loan is interest free and has no fixed date for repayment.

11.	ULTIMATE CONTROLLING PARTY

Body Art Piercing Limited was under the ultimate control of Mr J McKenzie (Director) for the whole of the year to 31st May 2020.