REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 |
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EAST END COSMETICS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 |
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FOR |
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EAST END COSMETICS LIMITED |
EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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EAST END COSMETICS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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BALANCE SHEET |
30 JUNE 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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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 | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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BALANCE SHEET - continued |
30 JUNE 2021 |
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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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EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2021 |
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1. | STATUTORY INFORMATION |
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East End Cosmetics Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the 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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Goodwill |
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years. |
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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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Motor vehicles | - |
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Computer equipment | - |
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Government grants |
Amounts received under The Coronavirus Job Retention Scheme (CJRS) and Rates grant are recognised as income based on the accrual model. During the year the company has recognised £45,702 as income in the profit and loss account. |
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The company has also recognised £1,148 as income in the profit and loss account which is business interruption payment received from Bank towards the Bounce Back Loan. |
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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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Financial instruments |
Financial assets and liabilities are recognised in the Company's balance sheet when the company becomes a party to the contractual provisions of the instrument. |
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Loans and Borrowings |
Loans and borrowings are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method. |
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EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2021 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year 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 year 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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 July 2020 |
and 30 June 2021 |
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AMORTISATION |
At 1 July 2020 |
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Amortisation for year |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2021 |
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2020 |
and 30 June 2021 |
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DEPRECIATION |
At 1 July 2020 |
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Charge for year |
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At 30 June 2021 |
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NET BOOK VALUE |
At 30 June 2021 |
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At 30 June 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by related companies |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 9) |
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Trade creditors |
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Amounts owed to related companies |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 9) |
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Other creditors |
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EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2021 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2021 | 2020 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank Loans due after more than |
5 years | 9,557 | 9,557 |
9,557 | 9,557 |
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9. | LOANS |
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An analysis of the maturity of loans is given below: |
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2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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Other loans within one year |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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Other loans more than one year |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank Loans due after more than |
5 years | 9,557 | 9,557 |
9,557 | 9,557 |
EAST END COSMETICS LIMITED (REGISTERED NUMBER: 04812353) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2021 |
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10. | RELATED PARTY DISCLOSURES |
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During the year, the company sold goods for the value of £85,000 (2020: £39,346) to Apex Trading Limited and received management fees of £14,065 (2020: £12,548) from Baronstar Limited, companies connected by virtue of having common directors. |
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At the balance sheet date, the following balances were outstanding in respect of companies where the directors have beneficial interest and where the company directors are also the directors:- |
2021 | 2020 |
£ | £ |
Debtors: |
Apex Trading Limited | 140,743 | 29,659 |
Fiza Limited | 33,502 | 32,878 |
Cosmac Limited | - | 1,600 |
174,245 | 64,137 |
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Creditors: |
Cosmac Limited | 32,776 | - |
Baronstar Limited | 176,822 | 183,700 |
209,598 | 183,700 |
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The amounts due are interest free and there are no specific terms of repayment. |
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During the year, the company received management fees of £15,068 (2020: £19,866) from A and S Bhanji, the directors of the company. |
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As at balance sheet date, included within creditors is £362,337 (2020: £402,702), an amount due to the directors of the company. The amounts due are interest free and there are no specific terms of repayment. |