Daly Makeup Limited - Accounts to registrar (filleted) - small 18.2

Daly Makeup Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: NI609567 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

DALY MAKEUP LIMITED

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


DALY MAKEUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2018







DIRECTOR: Ms C J Daly





REGISTERED OFFICE: 397 Lisburn Road
Belfast
BT9 7EW





REGISTERED NUMBER: NI609567 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
Co. Antrim
BT1 3BG

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

BALANCE SHEET
31 OCTOBER 2018

31.10.18 31.10.17
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 374,076 7,608

CURRENT ASSETS
Stocks 20,785 25,364
Debtors 5 17,864 20,891
Cash at bank 31,348 24,901
69,997 71,156
CREDITORS
Amounts falling due within one year 6 55,190 25,951
NET CURRENT ASSETS 14,807 45,205
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,883

52,813

CREDITORS
Amounts falling due after more than one
year

7

(344,404

)

-

PROVISIONS FOR LIABILITIES (1,957 ) (1,293 )
NET ASSETS 42,522 51,520

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 42,422 51,420
SHAREHOLDERS' FUNDS 42,522 51,520

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

BALANCE SHEET - continued
31 OCTOBER 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were authorised for issue by the director on 31 July 2019 and were signed by:





Ms C J Daly - Director


DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2018


1. STATUTORY INFORMATION

Daly Makeup Limited is a private company, limited by shares , registered in Northern Ireland. The company's
registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into
consideration in reaching such a decision include the economic viability and expected future financial
performance of the asset and the business in general.

Consider the valuation of stock and the requirement for write down provisions. These considerations are
undertaken regularly by the directors, and especially at the year end date. Factors taken into account include
historical experience and knowledge of the sector. Stock identified as impaired will be written down in value in
the relevant period.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to
support these and that the estimates remains reasonable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Fixtures, fittings & equipment - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at
transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in
the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of
the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised
cost using the effective interest rate method. The computation of amortised cost includes any issue costs,
transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these
amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period
or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower
has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end
date.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 7 ) .

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


4. TANGIBLE FIXED ASSETS
Fixtures,
Long fittings Computer
leasehold & equipment equipment Totals
£    £    £    £   
COST
At 1 November 2017 - 18,407 7,386 25,793
Additions 365,026 7,583 - 372,609
Disposals - (9,787 ) - (9,787 )
At 31 October 2018 365,026 16,203 7,386 388,615
DEPRECIATION
At 1 November 2017 - 13,695 4,490 18,185
Charge for year 2,460 2,344 1,337 6,141
Eliminated on disposal - (9,787 ) - (9,787 )
At 31 October 2018 2,460 6,252 5,827 14,539
NET BOOK VALUE
At 31 October 2018 362,566 9,951 1,559 374,076
At 31 October 2017 - 4,712 2,896 7,608

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.18 31.10.17
£    £   
Trade debtors 15,848 16,420
Other debtors 2,016 4,471
17,864 20,891

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.18 31.10.17
£    £   
Bank loans and overdrafts 31,342 -
Trade creditors 7,278 -
Taxation and social security 6,216 7,661
Other creditors 10,354 18,290
55,190 25,951

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.18 31.10.17
£    £   
Bank loans 245,321 -
Other creditors 99,083 -
344,404 -

DALY MAKEUP LIMITED (REGISTERED NUMBER: NI609567)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2018


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.18 31.10.17
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more than 5 years by
installment

140,859

-

Included in other creditors due after more than one year is a balance of £99,083 (2017: £nil) due to the director
which is interest free and will not be called for payment for at least one year from the date of the balance sheet.

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.18 31.10.17
£    £   
Bank loans 276,663 -

The bank loan is secured by a fixed charge over the long leasehold property and a floating charge which covers
all property or undertakings of the company.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Ms C J Daly.