Pippa Beauty Limited Filleted accounts for Companies House (small and micro)

PIPPA BEAUTY LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2022-03-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,465 972 483 1,455 10 493 20,000 20,000 20,000 xbrli:pure xbrli:shares iso4217:GBP 05368952 2022-03-01 2023-02-28 05368952 2023-02-28 05368952 2022-02-28 05368952 2022-02-28 05368952 bus:Director1 2022-03-01 2023-02-28 05368952 core:WithinOneYear 2023-02-28 05368952 core:WithinOneYear 2022-02-28 05368952 core:AfterOneYear 2023-02-28 05368952 core:AfterOneYear 2022-02-28 05368952 core:ShareCapital 2023-02-28 05368952 core:ShareCapital 2022-02-28 05368952 core:RetainedEarningsAccumulatedLosses 2023-02-28 05368952 core:RetainedEarningsAccumulatedLosses 2022-02-28 05368952 core:CostValuation core:Non-currentFinancialInstruments 2023-02-28 05368952 core:Non-currentFinancialInstruments 2023-02-28 05368952 core:Non-currentFinancialInstruments 2022-02-28 05368952 bus:Director1 2022-02-28 05368952 bus:Director1 2023-02-28 05368952 bus:Director1 2021-02-28 05368952 bus:Director1 2022-02-28 05368952 bus:Director1 2021-03-01 2022-02-28 05368952 bus:SmallEntities 2022-03-01 2023-02-28 05368952 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 05368952 bus:FullAccounts 2022-03-01 2023-02-28 05368952 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 05368952 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 05368952 core:ComputerEquipment 2022-03-01 2023-02-28 05368952 core:ComputerEquipment 2023-02-28 05368952 core:ComputerEquipment 2022-02-28

COMPANY REGISTRATION NUMBER: 05368952

Pippa Beauty Limited

Filleted Unaudited Financial Statements

28 February 2023

Pippa Beauty Limited

Statement of Financial Position

28 February 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	4	10	493
Investments	5	20,000	20,000
		--------	--------
		20,010	20,493

Current assets

Stocks		20,000	20,000
Debtors	6	5,644	8,498
Cash at bank and in hand		29,409	48,007
		--------	--------
		55,053	76,505

Creditors: amounts falling due within one year	7	11,946		24,166
		--------		--------
Net current assets			43,107	52,339
			--------	--------
Total assets less current liabilities			63,117	72,832

Creditors: amounts falling due after more than one year	8	15,060	21,755
		--------	--------
Net assets		48,057	51,077
		--------	--------

Capital and reserves

Called up share capital	80	80
Profit and loss account	47,977	50,997
	--------	--------
Shareholder funds	48,057	51,077
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Pippa Beauty Limited

Statement of Financial Position (continued)

28 February 2023

These financial statements were approved by the board of directors and authorised for issue on 16 November 2023 , and are signed on behalf of the board by:

Mr SCW Moorehead
Director

Company registration number: 05368952

Pippa Beauty Limited

Notes to the Financial Statements

Year ended 28 February 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1A The Moorings, Dane Road Industrial Estate, Sale, Cheshire, M33 7BP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer Equipment	-	33% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 March 2022 and 28 February 2023	1,465	1,465
	-------	-------
Depreciation
At 1 March 2022	972	972
Charge for the year	483	483
	-------	-------
At 28 February 2023	1,455	1,455
	-------	-------
Carrying amount
At 28 February 2023	10	10
	-------	-------
At 28 February 2022	493	493
	-------	-------

5. Investments

	Other investments other than loans
	£
Cost
At 1 March 2022 and 28 February 2023	20,000
	--------
Impairment
At 1 March 2022 and 28 February 2023	–
	--------

Carrying amount
At 28 February 2023	20,000
	--------
At 28 February 2022	20,000
	--------

6. Debtors

	2023	2022
	£	£
Trade debtors	4,142	8,498
Other debtors	1,502	–
	-------	-------
	5,644	8,498
	-------	-------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	6,695	6,695
Trade creditors	2,111	261
Corporation tax	1,210	1,790
Social security and other taxes	–	8,637
Other creditors	1,930	6,783
	--------	--------
	11,946	24,166
	--------	--------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	15,060	21,755
	--------	--------

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2023
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr SCW Moorehead	( 5,510)	6,863	( 2,010)	( 657)
	-------	-------	-------	----

	2022
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr SCW Moorehead	( 2,252)	14,514	( 17,772)	( 5,510)
	-------	--------	--------	-------