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FFS BEAUTY LTD |
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Financial Statements for the Period 1 May 2020 to 31 December 2020 |
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FFS BEAUTY LTD |
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Financial Statements for the Period 1 May 2020 to 31 December 2020 |
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FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Contents of the Financial Statements |
for the Period 1 May 2020 to 31 December 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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FFS BEAUTY LTD |
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Company Information |
for the Period 1 May 2020 to 31 December 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
88 Hill Village Road |
Sutton Coldfield |
West Midlands |
B75 5BE |
FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Balance Sheet |
31 December 2020 |
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2020 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Share premium | 12 |
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Retained earnings | 12 | ( |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Notes to the Financial Statements |
for the Period 1 May 2020 to 31 December 2020 |
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1. | STATUTORY INFORMATION |
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FFS Beauty Ltd is a
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going Concern |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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The company has adopted a de-minimus rule not to capitalise any fixed assets where the net cost is less than £300. |
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Government grants |
Government grants have been recognised under the accruals model. Government grants relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 December 2020 |
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3. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Share based payments |
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the Statement of comprehensive income over the vesting period. Non market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of share options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition. |
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The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or employee maintaining any contributions into the scheme). |
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Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to Statement of comprehensive income over the remaining vesting period. |
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Where equity instruments are granted to persons other than employees, the Statement of comprehensive income is charged with fair value of goods and services received. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 December 2020 |
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5. | INTANGIBLE FIXED ASSETS |
Patents |
and | Website |
licences | Development | Totals |
£ | £ | £ |
COST |
At 1 May 2020 |
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Additions |
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At 31 December 2020 |
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AMORTISATION |
At 1 May 2020 |
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Amortisation for period |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 30 April 2020 |
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6. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2020 |
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Additions |
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Disposals | ( |
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At 31 December 2020 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for period |
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Eliminated on disposal | ( |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 30 April 2020 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 December 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2020 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2020 |
£ | £ |
Other creditors |
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10. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2020 |
£ | £ |
Within one year |
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Between one and five years |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2020 |
value: | £ | £ |
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Ordinary shares | £0.00 | 1 | 133 | 126 |
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A1 Preferred shares | £0.00 | 1 | 47 | 47 |
180 | 173 |
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12. | RESERVES |
Retained | Share |
earnings | premium | Totals |
£ | £ | £ |
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At 1 May 2020 | ( |
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362,606 |
Deficit for the period | ( |
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Cash share issue | - | 249,993 | 249,993 |
At 31 December 2020 | ( |
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542,953 |
FFS BEAUTY LTD (REGISTERED NUMBER: 09390238) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 December 2020 |
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13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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