Registered number
11729942
Flame Urban Spa Limited
Unaudited Filleted Accounts
31 March 2023
Flame Urban Spa Limited
Registered number: 11729942
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 16,200 18,900
Tangible assets 4 398,649 407,945
414,849 426,845
Current assets
Stocks 3,000 3,000
Debtors 5 2,175 50
Cash at bank and in hand 2,965 22,608
8,140 25,658
Creditors: amounts falling due within one year 6 (160,188) (162,751)
Net current liabilities (152,048) (137,093)
Total assets less current liabilities 262,801 289,752
Creditors: amounts falling due after more than one year 7 (268,736) (285,181)
Provisions for liabilities (821) (1,026)
Net (liabilities)/assets (6,756) 3,545
Capital and reserves
Called up share capital 101 101
Profit and loss account (6,857) 3,444
Shareholder's funds (6,756) 3,545
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms N Dickinson
Director
Approved by the board on 18 September 2023
Flame Urban Spa Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% on written down value
Computer equipment 20% on written down value
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 27,000
At 31 March 2023 27,000
Amortisation
At 1 April 2022 8,100
Provided during the year 2,700
At 31 March 2023 10,800
Net book value
At 31 March 2023 16,200
At 31 March 2022 18,900
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Fixtures & fittings Computer equipment Total
£ £ £ £
Cost
At 1 April 2022 410,758 7,928 2,158 420,844
At 31 March 2023 410,758 7,928 2,158 420,844
Depreciation
At 1 April 2022 8,215 3,869 815 12,899
Charge for the year 8,215 812 269 9,296
At 31 March 2023 16,430 4,681 1,084 22,195
Net book value
At 31 March 2023 394,328 3,247 1,074 398,649
At 31 March 2022 402,543 4,059 1,343 407,945
5 Debtors 2023 2022
£ £
Trade debtors 2,175 -
Other debtors - 50
2,175 50
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,500 17,479
Taxation and social security costs 14,972 15,721
Other creditors 127,716 129,551
160,188 162,751
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 268,736 285,181
8 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 256,827 256,827
The bank loan is secured by fixed and floating charges over the assets of the company.
9 Other information
Flame Urban Spa Limited is a private company limited by shares and incorporated in England. Its registered office is:
109 Garstang Road
Preston
PR1 1LD
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