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Statement of Consent to Prepare Abridged Financial Statements |
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All of the members of AA Skincare Ltd have consented to the preparation of the abridged statement of financial position for the year ending 30 April 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
07338566
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Filleted Unaudited Abridged Financial Statements |
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Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
AA Skincare Ltd |
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Year ended 30 April 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of AA Skincare Ltd for the year ended 30 April 2017, which comprise the abridged statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
JAY & JAY PARTNERSHIP LIMITED
Chartered Certified Accountants
2 Chesterfield Buildings
Westbourne Place
Clifton
Bristol
BS8 1RU
2 January 2018
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Abridged Statement of Financial Position |
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30 April 2017
Current assets
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Debtors |
108,492 |
695,286 |
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Cash at bank and in hand |
164,788 |
316,376 |
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--------- |
------------ |
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273,280 |
1,011,662 |
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|
|
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Creditors: amounts falling due within one year |
74,957 |
812,015 |
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--------- |
------------ |
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Net current assets |
198,323 |
199,647 |
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--------- |
--------- |
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Total assets less current liabilities |
198,323 |
199,647 |
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--------- |
--------- |
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Net assets |
198,323 |
199,647 |
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--------- |
--------- |
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|
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Capital and reserves
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Called up share capital |
5 |
5 |
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Profit and loss account |
198,318 |
199,642 |
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--------- |
--------- |
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Members funds |
198,323 |
199,647 |
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--------- |
--------- |
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These abridged 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 income and retained earnings has not been delivered.
For the year ending 30 April 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 abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
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Abridged Statement of Financial Position (continued) |
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30 April 2017
These abridged financial statements were approved by the
board of directors
and authorised for issue on
2 January 2018
, and are signed on behalf of the board by:
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Mr W. Evans |
Mr M. Davies |
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Director |
Director |
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Company registration number:
07338566
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Notes to the Abridged Financial Statements |
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Year ended 30 April 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 Kingsown House, Unity Street, St Phillips, BS2 0HN, Bristol.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.
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
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exception: Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
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:
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Plant and machinery |
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25% straight line |
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Equipment |
- |
25% straight line |
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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
14
(2016:
5
).
5.
Controlling party
On 12 November 2015 the company became a 100% subsidiary undertaking of Amphora Aromatics Holdings Limited.
6.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015.
No transitional adjustments were required in equity or profit or loss for the year.