Body Art Piercing Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC206245 (Scotland)

Financial Statements for the Year Ended 31 May 2022

for

Body Art Piercing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

5

DIRECTOR:

Mr J B R McKenzie

SECRETARY:

REGISTERED OFFICE:

AFM House

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

REGISTERED NUMBER:

SC206245 (Scotland)

ACCOUNTANTS:

Colin McNally B.A. Hon's; F.C.M.A

Parris and McNally Limited

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

CURRENT ASSETS

Stocks

5

250

250

Debtors

6

2,895

52

Cash at bank

1,110

2,339

4,255

2,641

CREDITORS

Amounts falling due within one year

7

(3,091

)

(1,838

)

NET CURRENT ASSETS

1,164

803

TOTAL ASSETS LESS CURRENT LIABILITIES

1,164

803

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

1,064

703

SHAREHOLDERS' FUNDS

1,164

803

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 15 March 2023 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

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 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2021

and 31 May 2022

210

DEPRECIATION

At 1 June 2021

and 31 May 2022

210

NET BOOK VALUE

At 31 May 2022

-

At 31 May 2021

-

5.

STOCKS

31.5.22

31.5.21

£

£

Stocks

250

250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Other debtors

121

52

Directors' loan accounts

2,774

-

2,895

52

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade creditors

-

159

Tax

3,064

1,087

Directors' loan accounts

-

314

Accrued expenses

27

278

3,091

1,838

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.22

31.5.21

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 June 2021

703

Profit for the year

6,361

Dividends

(6,000

)

At 31 May 2022

1,064

10.	RELATED PARTY DISCLOSURES

At 31st May 2022, Mr J McKenzie (Director) owed Body Art Piercing Limited £2,774 (2021, Body Art Piercing Ltd owed Mr J McKenzie (Director) £314). 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 2022.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Body Art Piercing Limited for the year ended 31st May 2022 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Body Art Piercing Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Body Art Piercing Limited and state those matters that we have agreed to state to the Board of Directors of Body Art Piercing Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

You have acknowledged on the Balance Sheet as at 31st May 2022 that it is your duty to ensure that Body Art Piercing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Body Art Piercing Limited. You consider that Body Art Piercing 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 financial statements of Body Art Piercing 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 financial statements.

Colin McNally B.A. Hon's; F.C.M.A

Parris and McNally Limited

6 Crofthead Road

Prestwick

Ayrshire

KA9 1HW

Date: .............................................