Beautyvell Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04050488 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

BEAUTYVELL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

Mr K Higgs

REGISTERED OFFICE:

C/O Cox Costello & Horne

4th & 5th Floor

Lower Grosvenor Place

London

SW1W 0EX

REGISTERED NUMBER:

04050488 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Tangible assets

4

18,253

19,778

CURRENT ASSETS

Stocks

25,041

25,101

Debtors

5

34,490

28,715

Cash in hand

1,084

1,223

60,615

55,039

CREDITORS

Amounts falling due within one year

6

48,962

44,857

NET CURRENT ASSETS

11,653

10,182

TOTAL ASSETS LESS CURRENT LIABILITIES

29,906

29,960

PROVISIONS FOR LIABILITIES

2,585

2,638

NET ASSETS

27,321

27,322

CAPITAL AND RESERVES

Called up share capital

25,000

25,000

Retained earnings

2,321

2,322

SHAREHOLDERS' FUNDS

27,321

27,322

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the director on 21 August 2018 and were signed by:

Mr K Higgs - Director

1.	STATUTORY INFORMATION

Beautyvell Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention and in accordance with

Section 1A Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in

the UK and the Republic of Ireland and the Companies Act 2006.

Transition to FRS 102

This is the first year that the company has presented its results under FRS 102. The last financial statements

under UK GAAP were for the period ended 31 August 2016. The date of transition to FRS 102 was 1 September

2015. There are no transitional adjustments arising from the first time adoption of FRS 102.

Going concern

The company meets its day-to-day working capital requirements through its bank facility. After making enquiries,

the director has a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. The company therefore continues to adopt the going concern basis in

preparing its financial statements.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied. Goods and

services represent health and beauty products and treatments. Turnover is measured as the fair value of the

consideration received or receivable, excluding discounts and rebates and sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 10% on reducing balance

All assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation. The

cost of an asset initially recognised includes its purchase price and any cost that is directly attributable to

bringing the asset to the location and condition necessary for it to be capable of operating in the manner

intended by management.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost consists of all costs of purchase, costs of

conversion, design costs and other costs incurred in bringing the stocks to their present location and condition.

Cost is determined using a first-in, first-out (FIFO) method. Where necessary, provision is made to reduce cost

to no more than net realisable value having regard to the nature and condition of inventory, as well as its

anticipated utilisation and saleability.

Financial instruments

a) Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the transaction is measured at the present value of the

future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost

using the effective interest method, less any impairment.

b) Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

c) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate

of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by

the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs

The company makes payments into personal retirement schemes of certain employees. The contributions

payable by the company and the staff are deposited in the respective pension schemes within 30 days following

the deduction. Once the contributions have been paid, the company as employer, has no further obligations. The

company's contributions are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2016 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

95,876

Additions

675

At 31 August 2017

96,551

DEPRECIATION

At 1 September 2016

76,098

Charge for year

2,200

At 31 August 2017

78,298

NET BOOK VALUE

At 31 August 2017

18,253

At 31 August 2016

19,778

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Other debtors

34,490

28,715

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Bank overdraft

14,138

14,669

Trade creditors

6,116

7,833

Taxation and social security

15,755

13,466

Other creditors

12,953

8,889

48,962

44,857

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2017 and

31 August 2016:

31.8.17

31.8.16

£

£

Mr K Higgs

Balance outstanding at start of year

21,566

30,027

Amounts advanced

70,949

30,162

Amounts repaid

(58,544

)

(38,623

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

33,971

21,566

The balance has subsequently been settled. The loan is unsecured, interest free and repayable on demand.

8.	RELATED PARTY DISCLOSURES

During the financial year, the company paid rent of £27,274 (2016: £20,456) to a close family member of the

director.

9.	ULTIMATE CONTROLLING PARTY

At the reporting date, in the opinion of the director, there is no single ultimate controlling party. There has been

no change between the reporting date and date of approval of the financial statements.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Beautyvell Limited for the year ended 31 August 2017 which comprise the Profit and loss

account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Beautyvell Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Beautyvell Limited and state those matters that we have agreed to state to the director of Beautyvell Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beautyvell Limited and its director for our work or for this report.

It is your duty to ensure that Beautyvell Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Beautyvell Limited. You consider that Beautyvell Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Beautyvell Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

21 August 2018