Silverfin false 31/03/2023 01/04/2022 31/03/2023 S D Jones 22/12/2011 16 November 2023 The principal activity of the Company during the financial year was that of a tanning salon. 07890508 2023-03-31 07890508 bus:Director1 2023-03-31 07890508 2022-03-31 07890508 core:CurrentFinancialInstruments 2023-03-31 07890508 core:CurrentFinancialInstruments 2022-03-31 07890508 core:ShareCapital 2023-03-31 07890508 core:ShareCapital 2022-03-31 07890508 core:RetainedEarningsAccumulatedLosses 2023-03-31 07890508 core:RetainedEarningsAccumulatedLosses 2022-03-31 07890508 core:FurnitureFittings 2022-03-31 07890508 core:FurnitureFittings 2023-03-31 07890508 bus:OrdinaryShareClass1 2023-03-31 07890508 2022-04-01 2023-03-31 07890508 bus:FullAccounts 2022-04-01 2023-03-31 07890508 bus:SmallEntities 2022-04-01 2023-03-31 07890508 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07890508 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07890508 bus:Director1 2022-04-01 2023-03-31 07890508 core:FurnitureFittings 2022-04-01 2023-03-31 07890508 2021-04-01 2022-03-31 07890508 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 07890508 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07890508 (England and Wales)

TANNING BOOTHS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

TANNING BOOTHS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

TANNING BOOTHS LIMITED

BALANCE SHEET

As at 31 March 2023
TANNING BOOTHS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 15,782 20,179
15,782 20,179
Current assets
Stocks 885 886
Debtors 4 8,620 9,225
Cash at bank and in hand 6,156 10,587
15,661 20,698
Creditors: amounts falling due within one year 5 ( 15,206) ( 19,828)
Net current assets 455 870
Total assets less current liabilities 16,237 21,049
Provision for liabilities ( 2,926) ( 3,737)
Net assets 13,311 17,312
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 13,211 17,212
Total shareholder's funds 13,311 17,312

For the financial 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.

Director's responsibilities:

The financial statements of Tanning Booths Limited (registered number: 07890508) were approved and authorised for issue by the Director on 16 November 2023. They were signed on its behalf by:

S D Jones
Director
TANNING BOOTHS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
TANNING BOOTHS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Tanning Booths Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is 200 Keyham Road, Devonport, Plymouth, Devon, PL2 1RD.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 April 2022 60,493 60,493
Additions 969 969
Disposals ( 1,122) ( 1,122)
At 31 March 2023 60,340 60,340
Accumulated depreciation
At 01 April 2022 40,314 40,314
Charge for the financial year 5,266 5,266
Disposals ( 1,022) ( 1,022)
At 31 March 2023 44,558 44,558
Net book value
At 31 March 2023 15,782 15,782
At 31 March 2022 20,179 20,179

4. Debtors

2023 2022
£ £
Prepayments 584 954
Other debtors 8,036 8,271
8,620 9,225

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 236
Amounts owed to director 276 0
Accruals 1,584 7,780
Taxation and social security 3,386 1,953
Other creditors 9,960 9,859
15,206 19,828

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100