1 April 2022 v2023.23.2 limited_company_frs_102_section_1a_v1_1_0 companies_houseSoftwarefalsetruetruetrueNo description of principal activitytruexbrli:purexbrli:sharesiso4217:GBP101089502022-04-012023-03-31101089502023-03-31101089502022-03-3110108950core:WithinOneYear2023-03-3110108950core:WithinOneYear2022-03-3110108950core:AfterOneYear2023-03-3110108950core:AfterOneYear2022-03-3110108950core:ShareCapital2023-03-3110108950core:ShareCapital2022-03-3110108950core:RetainedEarningsAccumulatedLosses2023-03-3110108950core:RetainedEarningsAccumulatedLosses2022-03-3110108950bus:Director12022-04-012023-03-3110108950bus:RegisteredOffice2022-04-012023-03-3110108950core:FurnitureFittingsToolsEquipment2022-04-012023-03-3110108950core:LandBuildings2022-04-012023-03-31101089502021-04-012022-03-3110108950core:IntangibleAssetsOtherThanGoodwill2023-03-3110108950core:PlantMachinery2022-04-01101089502022-04-0110108950core:LandBuildings2023-03-3110108950core:PlantMachinery2023-03-3110108950core:PlantMachinery2022-04-012023-03-3110108950core:PlantMachinery2022-03-311010895012022-04-012023-03-3110108950countries:EnglandWales2022-04-012023-03-3110108950bus:AuditExemptWithAccountantsReport2022-04-012023-03-3110108950bus:PrivateLimitedCompanyLtd2022-04-012023-03-3110108950bus:SmallEntities2022-04-012023-03-3110108950bus:FullAccounts2022-04-012023-03-31
Company registration number:
10108950
Morenna Tanning Studio Ltd
Unaudited Filleted Financial Statements for the year ended
31 March 2023
Morenna Tanning Studio Ltd
Report of the Accountant to the directors of Morenna Tanning Studio Ltd
Year ended
31 March 2023
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 March 2023
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
MBAccounting
21 Cheviot Close
SALFORD
M6 8QZ
United Kingdom
Date:
14 October 2023
Morenna Tanning Studio Ltd
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 6
94,195
 
27,330
 
Current assets    
Stocks
1,500
  -  
Debtors 7
6,600
 
7,600
 
Cash at bank and in hand
4,030
 
24,314
 
12,130
 
31,914
 
Creditors: amounts falling due within one year 8
(6,957
)
(947
)
Net current assets
5,173
 
30,967
 
Total assets less current liabilities 99,368   58,297  
Creditors: amounts falling due after more than one year 9
(80,122
)
(37,338
)
Net assets
19,246
 
20,959
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
19,146
 
20,859
 
Shareholders funds
19,246
 
20,959
 
For the year ending
31 March 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
14 October 2023
, and are signed on behalf of the board by:
Mr A Wojcik
Director
Company registration number:
10108950
Morenna Tanning Studio Ltd
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
65 Railway Road
,
Leigh
,
Lancashire
,
WN7 4AD
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment
33% straight line
Land and buildings
10% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
3
(2022:
4.00
).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 April 2022
and
31 March 2023
8,941
 
Amortisation  
At
1 April 2022
and
31 March 2023
8,941
 
Carrying amount  
At
31 March 2023
-  
At 31 March 2022 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2022
-  
93,971
 
93,971
 
Additions
91,333
  -  
91,333
 
At
31 March 2023
91,333
 
93,971
 
185,304
 
Depreciation      
At
1 April 2022
-  
66,641
 
66,641
 
Charge
9,133
 
15,335
 
24,468
 
At
31 March 2023
9,133
 
81,976
 
91,109
 
Carrying amount      
At
31 March 2023
82,200
 
11,995
 
94,195
 
At 31 March 2022 -  
27,330
 
27,330
 

7 Debtors

20232022
££
Other debtors
6,600
 
7,600
 

8 Creditors: amounts falling due within one year

20232022
££
Trade creditors
1,264
  -  
Taxation and social security
3,734
 
323
 
Other creditors
1,959
 
624
 
6,957
 
947
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
65,032
 
17,500
 
Other creditors
15,090
 
19,838
 
80,122
 
37,338