Pippa Beauty Limited Company Accounts

PIPPA BEAUTY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05368952

Pippa Beauty Limited

Filleted Unaudited Financial Statements

28 February 2017

Pippa Beauty Limited

Financial Statements

Year ended 28 February 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Pippa Beauty Limited

Statement of Financial Position

28 February 2017

	2017		2016
Note	£	£	£	£

Current assets

Stocks		120,443	10,428
Debtors	5	23,961	518
Cash at bank and in hand		11,836	1,145
		---------	--------
		156,240	12,091

Creditors: amounts falling due within one year	6	147,378		15,963
		---------		--------
Net current assets/(liabilities)			8,862		( 3,872)
			-------		-------
Total assets less current liabilities			8,862		( 3,872)

Creditors: amounts falling due after more than one year	7	17,687	–
		--------	-------
Net liabilities		( 8,825)	( 3,872)
		--------	-------

Capital and reserves

Called up share capital	80	80
Profit and loss account	( 8,905)	( 3,952)
	-------	-------
Member deficit	( 8,825)	( 3,872)
	-------	-------

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 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 comprehensive income has not been delivered.

For the year ending 28 February 2017 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 2017

These financial statements were approved by the board of directors and authorised for issue on 27 November 2017 , 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 2017

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 the provisions of FRS 102 Section 1A, '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.

Going concern

The accounts have been prepared on a going concern basis. The director has given an undertaking not to seek repayment of his directors loan until the company is in a position to repay. He considers that it is appropriate to prepare the accounts on the going concern basis.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.

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.

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.

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).

5. Debtors

	2017	2016
	£	£
Trade debtors	3,726	518
Other debtors	20,235	–
	--------	----
	23,961	518
	--------	----

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	138,924	1,718
Corporation tax	3	12
Social security and other taxes	–	475
Other creditors	8,451	13,758
	---------	--------
	147,378	15,963
	---------	--------

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

	2017	2016
	£	£
Other creditors	17,687	–
	--------	----

8. Director's advances, credits and guarantees

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

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr SCW Moorehead	( 9,218)	( 8,469)	–	( 17,687)
	-------	-------	----	--------

	2016
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr SCW Moorehead	6,027	( 17,073)	1,828	( 9,218)
	-------	--------	-------	-------

9. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 March 2015.

No transitional adjustments were required in equity or profit or loss for the year.