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Registration number: 08033232

Banburys Beauty Spa Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Banburys Beauty Spa Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Banburys Beauty Spa Limited

Company Information

Director

Miss CE Banbury

Company secretary

Mrs S L Trewin

Registered office

Pinetrees
Madford Lane
Launceston
Cornwall
PL15 9EB

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Banburys Beauty Spa Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Banburys Beauty Spa Limited for the year ended 28 February 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Banburys Beauty Spa Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Banburys Beauty Spa Limited and state those matters that we have agreed to state to the Board of Directors of Banburys Beauty Spa Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Banburys Beauty Spa Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Banburys Beauty Spa Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Banburys Beauty Spa Limited. You consider that Banburys Beauty Spa Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Banburys Beauty Spa Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
3 Atlas House
West Devon Business Park
Tavistock
Devon
PL19 9DP

13 November 2023

 

Banburys Beauty Spa Limited

(Registration number: 08033232)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

49,576

59,056

Current assets

 

Stocks

5

6,609

8,051

Debtors

6

32,152

25,162

Cash at bank and in hand

 

8,323

11,119

 

47,084

44,332

Creditors: Amounts falling due within one year

7

(67,610)

(78,113)

Net current liabilities

 

(20,526)

(33,781)

Total assets less current liabilities

 

29,050

25,275

Provisions for liabilities

(1,458)

(3,274)

Net assets

 

27,592

22,001

Capital and reserves

 

Called up share capital

1

1

Retained earnings

27,591

22,000

Shareholders' funds

 

27,592

22,001

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

Banburys Beauty Spa Limited

(Registration number: 08033232)
Balance Sheet as at 28 February 2023

Approved and authorised by the director on 13 November 2023
 

.........................................

Miss CE Banbury

Director

 

Banburys Beauty Spa Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Pinetrees
Madford Lane
Launceston
Cornwall
PL15 9EB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Banburys Beauty Spa Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, and equipment

20% reducing balance

Leasehold improvements

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2022 - 3).

 

Banburys Beauty Spa Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Leasehold improvements
£

Fixtures, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

79,442

39,855

119,297

At 28 February 2023

79,442

39,855

119,297

Depreciation

At 1 March 2022

28,062

32,179

60,241

Charge for the year

7,945

1,535

9,480

At 28 February 2023

36,007

33,714

69,721

Carrying amount

At 28 February 2023

43,435

6,141

49,576

At 28 February 2022

51,380

7,676

59,056

5

Stocks

2023
£

2022
£

Stock

6,609

8,051

6

Debtors

2023
£

2022
£

Trade debtors

31,849

25,162

Other debtors

303

-

32,152

25,162

 

Banburys Beauty Spa Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

445

807

Taxation and social security

3,528

2,481

Accruals and deferred income

6,057

6,058

Other creditors

57,580

68,767

67,610

78,113