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Registration number: 06659092

Ebeauty Limited

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 31 August 2017

 

Ebeauty Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 10

 

Ebeauty Limited

Company Information

Directors

Miss Jane Louise Hodgson

Mr Adrian Young

Registered office

Regus House
Cardiff Gate Business Park
Malthouse Avenue
Cardiff
CF23 8RU
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Ebeauty Limited

(Registration number: 06659092)
Balance Sheet as at 31 August 2017

Note

31 August
2017
£

31 August
2016
£

Fixed assets

 

Intangible assets

4

1,500

3,000

Tangible assets

5

12,639

1,597

 

14,139

4,597

Current assets

 

Stocks

6

468,404

139,051

Debtors

7

171,838

46,998

Cash at bank and in hand

 

903,579

980,786

 

1,543,821

1,166,835

Creditors: Amounts falling due within one year

8

(344,353)

(106,043)

Net current assets

 

1,199,468

1,060,792

Net assets

 

1,213,607

1,065,389

Capital and reserves

 

Called up share capital

101

101

Profit and loss account

1,213,506

1,065,288

Total equity

 

1,213,607

1,065,389

For the financial year ending 31 August 2017 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; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Ebeauty Limited

(Registration number: 06659092)
Balance Sheet as at 31 August 2017

Approved and authorised by the Board on 21 May 2018 and signed on its behalf by:
 

.........................................

Miss Jane Louise Hodgson

Director

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Regus House
Cardiff Gate Business Park
Malthouse Avenue
Cardiff
CF23 8RU
Wales

These financial statements were authorised for issue by the Board on 21 May 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% on cost

Computer equiptment

33% on cost

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2016 - 3).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2016

15,000

15,000

At 31 August 2017

15,000

15,000

Amortisation

At 1 September 2016

12,000

12,000

Amortisation charge

1,500

1,500

At 31 August 2017

13,500

13,500

Carrying amount

At 31 August 2017

1,500

1,500

At 31 August 2016

3,000

3,000

The aggregate amount of research and development expenditure recognised as an expense during the period is £34,361 (2016 - £Nil).
 

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2016

9,987

9,987

Additions

14,962

14,962

At 31 August 2017

24,949

24,949

Depreciation

At 1 September 2016

8,390

8,390

Charge for the year

3,920

3,920

At 31 August 2017

12,310

12,310

Carrying amount

At 31 August 2017

12,639

12,639

At 31 August 2016

1,597

1,597

6

Stocks

31 August
2017
£

31 August
2016
£

Stock on hand

468,404

139,051

7

Debtors

31 August
2017
£

31 August
2016
£

Trade debtors

14,123

46,998

Other debtors

157,715

-

171,838

46,998

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

8

Creditors

Creditors: amounts falling due within one year

31 August
2017
£

31 August
2016
£

Due within one year

Trade creditors

235,904

1,473

Taxation and social security

37,064

18,678

Accruals and deferred income

1,502

1,115

Other creditors

69,883

84,777

344,353

106,043

9

Share capital

Allotted, called up and fully paid shares

 

31 August
2017

31 August
2016

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

Ordinary B of £1 each

1

1

1

1

 

101

101

101

101

10

Dividends

Interim dividends paid

   

31 August
2017
£

 

31 August
2016
£

Interim dividend of £437.50 (2016 - £650.00) per each Ordinary share

 

43,750

 

65,000

Interim dividend of £43,750.00 (2016 - £65,000.00) per each Ordinary B share

 

43,750

 

65,000

   

87,500

 

130,000

 

Ebeauty Limited

Notes to the Financial Statements
for the Year Ended 31 August 2017

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2017
£

2016
£

Remuneration

16,200

16,128

Contributions paid to money purchase schemes

40,000

40,000

56,200

56,128

Dividends paid to directors

 

31 August
2017
£

31 August
2016
£

Miss Jane Louise Hodgson

   

Dividends

43,750

65,000

     
         

Mr Adrian Young

   

Dividends

43,750

65,000

     
         

 

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