Company registration number 13415743 (England and Wales)
Nu-U Skin Ltd
Unaudited
financial statements
for the year ended 31 March 2023
PAGES FOR FILING WITH REGISTRAR
Nu-U Skin Ltd
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
Nu-U Skin Ltd
Statement of financial position
as at 31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
31,405
Current assets
Stocks
4,000
-
Cash at bank and in hand
200
1
4,200
1
Creditors: amounts falling due within one year
5
(58,574)
Net current (liabilities)/assets
(54,374)
1
Net (liabilities)/assets
(22,969)
1
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(22,970)
Total equity
(22,969)
1
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 15 November 2023
P Barford
Director
Company registration number 13415743 (England and Wales)
Nu-U Skin Ltd
Notes to the financial statements
for the year ended 31 March 2023
- 2 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Nu-U Skin Ltd
Notes to the financial statements (continued)
for the year ended 31 March 2023
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
4
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2022
Additions
36,947
At 31 March 2023
36,947
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
5,542
At 31 March 2023
5,542
Carrying amount
At 31 March 2023
31,405
At 31 March 2022
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
57,554
Accruals and deferred income
1,020
58,574
6
Company information
Nu-U Skin Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 10 Willoughby Drive, Empingham, Oakham, Rutland, LE15 8PZ.