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Registered number: 12315867
The Fountain Medispa Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Mendip Accounting Solutions Ltd
6 Hill Road
Clevedon
North Somerset
BS21 7NE
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12315867
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 17,056 22,741
17,056 22,741
CURRENT ASSETS
Stocks 5 500 4,000
Debtors 6 1,966 4,291
Cash at bank and in hand - 474
2,466 8,765
Creditors: Amounts Falling Due Within One Year 7 (49,104 ) (40,026 )
NET CURRENT ASSETS (LIABILITIES) (46,638 ) (31,261 )
TOTAL ASSETS LESS CURRENT LIABILITIES (29,582 ) (8,520 )
Creditors: Amounts Falling Due After More Than One Year 8 (9,643 ) (12,900 )
NET LIABILITIES (39,225 ) (21,420 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (39,226 ) (21,421 )
SHAREHOLDERS' FUNDS (39,225) (21,420)
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Miss Samantha Del-Greco
Director
31/03/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Fountain Medispa Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12315867 . The registered office is 1 West Mall , Bristol, BS8 4BH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% reducing balance
Computer Equipment 33% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 December 2022 28,289 1,118 29,407
As at 30 November 2023 28,289 1,118 29,407
Depreciation
As at 1 December 2022 5,548 1,118 6,666
Provided during the period 5,685 - 5,685
As at 30 November 2023 11,233 1,118 12,351
Net Book Value
As at 30 November 2023 17,056 - 17,056
As at 1 December 2022 22,741 - 22,741
5. Stocks
2023 2022
£ £
Stock 500 4,000
6. Debtors
2023 2022
£ £
Due within one year
Other debtors - 3,571
Corporation tax recoverable assets 1,966 -
Director's loan account - 720
1,966 4,291
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 3 594
Bank loans and overdrafts 667 -
Other loans 37,500 37,500
Other taxes and social security - 1,312
Net wages - 620
Accruals and deferred income 2,492 -
Director's loan account 8,442 -
49,104 40,026
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8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 9,643 12,900
9,643 12,900
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Miss Samantha Del-Greco 6,049 6,049 - - -
The above loan is unsecured, interest free and repayable on demand.
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