Flawless Cosmetic Limited - Accounts

FLAWLESS COSMETIC LIMITED - Company Information

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Registered Number: 09033340

England and Wales

FLAWLESS COSMETIC LIMITED

Abridged Accounts

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

Flawless Cosmetic Limited
Contents Page
For the year ended 31 March 2023

Statement of financial position	1
Notes to the financial statements	2

Flawless Cosmetic Limited
Statement of Financial Position
As at 31 March 2023

	Notes	2023 £	2022 £
Fixed assets
Tangible fixed assets	3	103,988	1,326
		103,988	1,326
Current assets
Stocks		20,000	6,686
Debtors		1,505,006	1,429,596
Cash at bank and in hand		4,983	228,269
		1,529,989	1,664,551
Creditors: amount falling due within one year		(154,655)	(156,991)
Net current assets		1,375,334	1,507,560

Total assets less current liabilities		1,479,322	1,508,886
Creditors: amount falling due after more than one year		(88,852)	0
Provisions for liabilities		(252)	(252)
Net assets		1,390,218	1,508,634

Capital and reserves
Called up share capital		300	300
Profit and loss account		1,389,918	1,508,334
Shareholder's funds		1,390,218	1,508,634

For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
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.

These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved by the board of directors on 29 March 2024 and were signed on its behalf by:

-------------------------------
Russell Burton
Director

Flawless Cosmetic Limited
Notes to the Abridged Financial Statements
For the year ended 31 March 2023

General Information

Flawless Cosmetic Limited is a private company, limited by shares, registered in England and Wales, registration number 09033340, registration address 38 Vyner Road South, Prenton, Wirral, CH43 7PR.

The presentation currency is £ sterling.

Accounting policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

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

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Finance lease and hire purchase charges

The finance element of the rental payment is charged to the income statement on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted

Dividends

Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery	15% Reducing Balance
Motor Vehicles	25% Reducing Balance
Fixtures and Fittings	25% Reducing Balance
Computer Equipment	20% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 7 (2022 : 7).

Tangible fixed assets

Cost or valuation	Plant and Machinery	Motor Vehicles	Fixtures and Fittings	Computer Equipment	Total
	£	£	£	£	£
At 01 April 2022	-	-	1,130	1,306	2,436
Additions	4,700	107,670	-	-	112,370
Disposals	-	-	-	-	-
At 31 March 2023	4,700	107,670	1,130	1,306	114,806
Depreciation
At 01 April 2022	-	-	639	471	1,110
Charge for year	353	8,942	123	290	9,708
On disposals	-	-	-	-	-
At 31 March 2023	353	8,942	762	761	10,818
Net book values
Closing balance as at 31 March 2023	4,347	98,728	368	545	103,988
Opening balance as at 01 April 2022	-	-	491	835	1,326