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

URBAN EDEN BEAUTY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06778309

Urban Eden Beauty Limited

Filleted Unaudited Financial Statements

31 December 2023

Urban Eden Beauty Limited

Statement of Financial Position

31 December 2023

	2023	2022
Note	£	£

Fixed assets

Tangible assets	5	1,120	1,402

Current assets

Stocks		350	450
Debtors	6	1,871	3,816
Cash at bank and in hand		28,382	24,017
		--------	--------
		30,603	28,283

Creditors: amounts falling due within one year	7	14,918	9,711
		--------	--------
Net current assets		15,685	18,572
		--------	--------
Total assets less current liabilities		16,805	19,974

Provisions	212	266
	--------	--------
Net assets	16,593	19,708
	--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	16,592	19,707
	--------	--------
Shareholder funds	16,593	19,708
	--------	--------

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 31 December 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Urban Eden Beauty Limited

Statement of Financial Position (continued)

31 December 2023

These financial statements were approved by the board of directors and authorised for issue on 24 May 2024 , and are signed on behalf of the board by:

Mrs K V Herdman
Director

Company registration number: 06778309

Urban Eden Beauty Limited

Notes to the Financial Statements

Year ended 31 December 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 18 The Central Precinct, Winchester Road, Eastleigh, Hampshire, SO53 2GB, England.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Taxation

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:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	20% reducing balance
Equipment	-	20% reducing balance

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.

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.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 January 2023 and 31 December 2023	4,165	987	1,671	6,823
	-------	----	-------	-------
Depreciation
At 1 January 2023	2,992	780	1,649	5,421
Charge for the year	235	42	5	282
	-------	----	-------	-------
At 31 December 2023	3,227	822	1,654	5,703
	-------	----	-------	-------
Carrying amount
At 31 December 2023	938	165	17	1,120
	-------	----	-------	-------
At 31 December 2022	1,173	207	22	1,402
	-------	----	-------	-------

6. Debtors

	2023	2022
	£	£
Trade debtors	871	819
Other debtors	1,000	2,997
	-------	-------
	1,871	3,816
	-------	-------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	494	86
Corporation tax	2,623	2,730
Social security and other taxes	5,820	4,988
Other creditors	5,981	1,907
	--------	-------
	14,918	9,711
	--------	-------

8. 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	Amounts repaid	Balance outstanding
	£	£	£
Mrs K V Herdman	( 2,862)	2,065	( 797)
	-------	-------	----

	2022
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mrs K V Herdman	( 5,870)	3,008	( 2,862)
	-------	-------	-------