BM Beauty Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC391476 (Scotland)

Financial Statements for the Year Ended 31 December 2020

for

BM Beauty Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

L Nicholson

REGISTERED OFFICE:

19 Bon Accord Crescent

Aberdeen

AB11 6DE

REGISTERED NUMBER:

SC391476 (Scotland)

ACCOUNTANTS:

A J Croll & Company

19 Bon Accord Crescent

Aberdeen

Aberdeenshire

AB11 6DE

FIXED ASSETS

Tangible assets

4

6,831

7,191

CURRENT ASSETS

Stocks

41,500

60,500

Debtors

5

2,048

8,169

43,548

68,669

CREDITORS

Amounts falling due within one year

6

139,830

162,839

NET CURRENT LIABILITIES

(96,282

)

(94,170

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(89,451

)

(86,979

)

CREDITORS

Amounts falling due after more than one year

7

12,000

-

NET LIABILITIES

(101,451

)

(86,979

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(101,453

)

(86,981

)

SHAREHOLDERS' FUNDS

(101,451

)

(86,979

)

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

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

The director acknowledges her 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 22 December 2021 and were signed by:

L Nicholson - Director

1.	STATUTORY INFORMATION

BM Beauty Ltd. 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.

These accounts are prepared on a going concern basis because of the continuing financial support provided by the director.

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

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2020

and 31 December 2020

12,982

DEPRECIATION

At 1 January 2020

5,791

Charge for year

360

At 31 December 2020

6,151

NET BOOK VALUE

At 31 December 2020

6,831

At 31 December 2019

7,191

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

2,048

8,169

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

9,362

8,883

Trade creditors

297

13,615

Taxation and social security

1,076

1,145

Other creditors

129,095

139,196

139,830

162,839

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Other creditors

12,000

-

8.	ULTIMATE CONTROLLING PARTY

The controlling party is L Nicholson.