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REGISTERED NUMBER: 04691132 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

YOSHIMI SPA LIMITED

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


YOSHIMI SPA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: J L Hills
M W R Hills





SECRETARY: M W R Hills





REGISTERED OFFICE: Yoshimi
Wesley Yard
Newquay
Cornwall
TR7 1LB





REGISTERED NUMBER: 04691132 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,500
Tangible assets 5 432,508 446,364
432,508 447,864

CURRENT ASSETS
Stocks 2,000 2,000
Debtors 6 2,272 11,645
Cash at bank and in hand 10,108 7,498
14,380 21,143
CREDITORS
Amounts falling due within one year 7 67,795 83,356
NET CURRENT LIABILITIES (53,415 ) (62,213 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

379,093

385,651

CREDITORS
Amounts falling due after more than one
year

8

(171,545

)

(181,387

)

PROVISIONS FOR LIABILITIES (998 ) (1,637 )
NET ASSETS 206,550 202,627

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 206,450 202,527
SHAREHOLDERS' FUNDS 206,550 202,627

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

BALANCE SHEET - continued
31 MARCH 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





J L Hills - Director


YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Yoshimi Spa Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover represents the net receipts from the supply of hairdressing and other beauty treatment, exclusive of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

No depreciation has been charged in respect of freehold property and improvements for accounting periods prior to 31st March 2016. However, following a valuation of the property carried out by the company's bank on 26 April 2017, the market value had dropped lower then the cost of the building.

The directors have therefore depreciated the property evenly over a 50 year period from 1st April 2016 in order to reflect the decrease in the valuation of the company.

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

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.


YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 8 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 30,000
AMORTISATION
At 1 April 2022 28,500
Amortisation for year 1,500
At 31 March 2023 30,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 1,500

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 480,896 64,297 19,584 10,052 574,829
Additions - 1,166 - - 1,166
At 31 March 2023 480,896 65,463 19,584 10,052 575,995
DEPRECIATION
At 1 April 2022 57,708 55,803 5,664 9,290 128,465
Charge for year 9,617 1,449 3,480 476 15,022
At 31 March 2023 67,325 57,252 9,144 9,766 143,487
NET BOOK VALUE
At 31 March 2023 413,571 8,211 10,440 286 432,508
At 31 March 2022 423,188 8,494 13,920 762 446,364

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 2,272 1,995
Directors' current accounts - 9,650
2,272 11,645

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 37,629 60,926
Corporation tax 20,260 16,552
Social security and other taxes 1,047 265
Other creditors 6,698 5,613
Directors' current accounts 2,161 -
67,795 83,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 37,629 31,822
Bank loans - 2-5 years 102,651 91,014
Bank loans due after more than
5 years by instalments 31,265 58,551
171,545 181,387

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.23 31.3.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more than
5 years by instalments 31,265 58,551
31,265 58,551

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank overdrafts - 29,104
Bank loans 209,174 213,209
209,174 242,313

The bank overdrafts and flexible business loans are secured by way of a fixed and floating charge over the current and future liabilities of the company.

The bank loan is secured by a legal charge over the company's freehold property at Wesley Yard Newquay, and by a debenture creating a fixed and floating charge over the company's assets and future undertakings.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
M W R Hills
Balance outstanding at start of year (2,518 ) 2,262
Amounts advanced 4,500 11,876
Amounts repaid - (16,656 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,982 (2,518 )

J L Hills
Balance outstanding at start of year (7,132 ) 1,423
Amounts advanced 36,893 62,193
Amounts repaid (29,582 ) (70,748 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 179 (7,132 )

11. RELATED PARTY DISCLOSURES

The company's directors, Mr J L Hills and Mr M W R Hills have provided personal guarantees over the company's bank borrowings.

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

12. ULTIMATE CONTROLLING PARTY

During the year, the company was controlled by its directors, by virtue of the fact that, between them, they own 100% of the company's issued Ordinary share capital.