| Future In Beauty Limited |
Registered number |
| Balance Sheet |
11288136 |
| as at 31 October 2022 |
|
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
473 |
|
|
630 |
|
| Current assets |
| Debtors |
4 |
|
3,797 |
|
|
41,741 |
| Cash at bank and in hand |
|
|
23,364 |
|
|
47,130 |
|
|
|
27,161 |
|
|
88,871 |
|
| Creditors: amounts falling due within one year |
5 |
|
(37,831) |
|
|
(59,621) |
|
| Net current (liabilities)/assets |
|
|
|
(10,670) |
|
|
29,250 |
|
| Total assets less current liabilities |
|
|
|
(10,197) |
|
|
29,880 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(22,750) |
|
|
(29,750) |
|
| Net (liabilities)/assets |
|
|
|
(32,947) |
|
|
130 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
50 |
|
|
50 |
| Profit and loss account |
|
|
|
(32,997) |
|
|
80 |
|
| Shareholders' funds |
|
|
|
(32,947) |
|
|
130 |
|
|
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| T Henderson |
| Director |
| Approved by the board on 30 January 2024 |
|
| Future In Beauty Limited |
| Notes to the Accounts |
| for the year ended 31 October 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland, as applied to small entities by section 1A of the standard. |
|
|
Going concern basis |
|
The accounts have been prepared on the going concern basis. The directors believe this basis to be appropriate since, although the company had net liabilities at the balance sheet date, it is trading profitably. It is further assumed that the company's directors and creditors will provide such financial support to the company as is necessary for it to continue operating. |
|
|
Turnover |
|
Turnover represents the amounts receivable for goods and services supplied, net of value added tax. |
|
|
Grants receivable |
|
Government grants are accounted for in the period in which the grant proceeds become receivable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less depreciation. Depreciation has been provided at the following rate in order to write off the assets over their estimated useful lives: |
|
Equipment - |
25% p.a. on the reducing balance basis |
|
|
|
| 2 |
Comparative figures |
|
|
The comparative figures shown in the accounts cover the period from 1 May 2020 to 31 October 2021. |
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
Equipment |
|
|
| £ |
|
|
|
Cost |
|
At 1 November 2021 |
1,326 |
|
At 31 October 2022 |
1,326 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 November 2021 |
696 |
|
Charge for the year |
157 |
|
At 31 October 2022 |
853 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 October 2022 |
473 |
|
At 31 October 2021 |
630 |
|
|
|
|
|
| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
|
|
Loans to directors |
|
|
|
|
|
- |
|
40,000 |
|
Other debtors |
3,797 |
|
1,741 |
|
|
|
|
|
|
|
3,797 |
|
41,741 |
|
|
|
|
|
|
|
|
|
|
|
The loans previously advanced to Mr T Henderson and Mrs C Henderson, of £20,000 each, carried interest at 2% during the course of this year up to the date of their clearance. |
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loan |
7,000 |
|
5,250 |
|
Trade creditors |
275 |
|
1,855 |
|
Corporation tax |
4,074 |
|
5,987 |
|
Other taxes |
15,899 |
|
22,727 |
|
Other creditors |
10,583 |
|
23,802 |
|
|
|
|
|
|
|
37,831 |
|
59,621 |
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loan |
22,750 |
|
29,750 |
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Bank loan |
2022 |
|
2021 |
| £ |
£ |
|
The bank loan includes: |
|
Instalments falling due after more than five years |
- |
|
5,833 |
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Remuneration trust |
2022 |
|
2021 |
| £ |
£ |
|
|
Remuneration trust contributions |
40,000 |
|
120,000 |
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Contingent liabilities |
|
|
HM Revenue & Customs have queried the tax treatment of remuneration trust contributions made by the company but it is not practicable to quantify how much tax might be at stake. No provision has been made in the accounts in relation to this matter since the company's advisors are confident that the tax treatment adopted by the company is correct. |
|
|
|
| 10 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of employees |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Controlling parties |
|
|
The company is controlled by Mr T Henderson and Mrs C Henderson, who between them own the company's entire issued share capital. |
|
|
|
| 12 |
Other information |
|
|
Future In Beauty Limited is a private company limited by shares and incorporated in England. Its registered office is Englands Lane Business Centre, 47 Englands Lane, Gorleston, Great Yarmouth, Norfolk, England, NR31 6BE. |
