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REGISTERED NUMBER: 13523151 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 July 2023

for

Golden Tanning Salon Ltd

Golden Tanning Salon Ltd (Registered number: 13523151)

Contents of the Financial Statements
For The Year Ended 31 July 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Golden Tanning Salon Ltd

Company Information
For The Year Ended 31 July 2023







DIRECTOR: Ms D M Johnson





REGISTERED OFFICE: 10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 13523151 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Golden Tanning Salon Ltd (Registered number: 13523151)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 203,912 82,215

CURRENT ASSETS
Stocks 3,500 3,437
Debtors 5 33,974 20,404
Cash at bank and in hand 9,460 27,451
46,934 51,292
CREDITORS
Amounts falling due within one year 6 89,007 34,081
NET CURRENT (LIABILITIES)/ASSETS (42,073 ) 17,211
TOTAL ASSETS LESS CURRENT
LIABILITIES

161,839

99,426

CREDITORS
Amounts falling due after more than one
year

7

182,800

98,929
NET (LIABILITIES)/ASSETS (20,961 ) 497

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (21,061 ) 397
SHAREHOLDERS' FUNDS (20,961 ) 497

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

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

The director acknowledges her 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2023 and were signed by:




Ms D M Johnson - Director


Golden Tanning Salon Ltd (Registered number: 13523151)

Notes to the Financial Statements
For The Year Ended 31 July 2023


1. STATUTORY INFORMATION

Golden Tanning Salon Ltd 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Straight line over 10 years
Plant & equipment - 25% on reducing balance and 10% on reducing balance
Computer equipment - Straight line over 3 years

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

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Golden Tanning Salon Ltd (Registered number: 13523151)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 4 (2022 - 1 ) .

Golden Tanning Salon Ltd (Registered number: 13523151)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


4. TANGIBLE FIXED ASSETS
Improvements
to Plant & Computer
property equipment equipment Totals
£    £    £    £   
COST
At 1 August 2022 - 103,851 - 103,851
Additions 17,385 112,016 2,912 132,313
At 31 July 2023 17,385 215,867 2,912 236,164
DEPRECIATION
At 1 August 2022 - 21,636 - 21,636
Charge for year 252 10,083 281 10,616
At 31 July 2023 252 31,719 281 32,252
NET BOOK VALUE
At 31 July 2023 17,133 184,148 2,631 203,912
At 31 July 2022 - 82,215 - 82,215

During the year the accounting policy for plant and machinery was changed from 25% reducing balance to 10% reducing balance.If this had not been changed the depreciation charge would have been ££25,207 instead of £10,083, and the net book value would have ben £191414, instead of £184,149.

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant &
equipment
£   
COST
At 1 August 2022 66,449
Additions 48,750
At 31 July 2023 115,199
DEPRECIATION
At 1 August 2022 13,844
Charge for year 6,097
At 31 July 2023 19,941
NET BOOK VALUE
At 31 July 2023 95,258
At 31 July 2022 52,605

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 33,974 20,404

Golden Tanning Salon Ltd (Registered number: 13523151)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,000 5,000
Finance leases 57,220 23,036
Trade creditors 6,033 2,674
Taxation and social security 2,697 371
Other creditors 18,057 3,000
89,007 34,081

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 13,995 19,583
Finance leases 36,390 36,627
Other creditors 132,415 42,719
182,800 98,929

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100