The Cedar Sauna Company Ltd 12833657 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is sauna retail / maintenance. Digita Accounts Production Advanced 6.30.9574.0 true true 12833657 2022-08-01 2023-07-31 12833657 2023-07-31 12833657 core:RetainedEarningsAccumulatedLosses 2023-07-31 12833657 core:ShareCapital 2023-07-31 12833657 core:CurrentFinancialInstruments 2023-07-31 12833657 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 12833657 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 12833657 bus:SmallEntities 2022-08-01 2023-07-31 12833657 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 12833657 bus:FullAccounts 2022-08-01 2023-07-31 12833657 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 12833657 bus:RegisteredOffice 2022-08-01 2023-07-31 12833657 bus:Director1 2022-08-01 2023-07-31 12833657 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 12833657 countries:EnglandWales 2022-08-01 2023-07-31 12833657 2021-08-01 2022-07-31 12833657 2022-07-31 12833657 core:RetainedEarningsAccumulatedLosses 2022-07-31 12833657 core:ShareCapital 2022-07-31 12833657 core:CurrentFinancialInstruments 2022-07-31 12833657 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 12833657 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 iso4217:GBP xbrli:pure

Registration number: 12833657

The Cedar Sauna Company Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2023

 

The Cedar Sauna Company Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

The Cedar Sauna Company Ltd

(Registration number: 12833657)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

58,943

-

Debtors

5

16,282

4,733

Cash at bank and in hand

 

6,641

3,078

 

81,866

7,811

Creditors: Amounts falling due within one year

6

(146,701)

(58,654)

Total assets less current liabilities

 

(64,835)

(50,843)

Creditors: Amounts falling due after more than one year

6

(4,583)

-

Net liabilities

 

(69,418)

(50,843)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(69,419)

(50,844)

Shareholders' deficit

 

(69,418)

(50,843)

For the financial year ending 31 July 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 his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 April 2024
 

.........................................
Mr L Jenkinson
Director

 

The Cedar Sauna Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 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:
Unit 8 Dewsbury Road
Fenton Industrial Estate
Stoke-On-Trent
ST4 2TE

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.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

The Cedar Sauna Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Judgements

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 are 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 revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

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 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.

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.

 

The Cedar Sauna Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

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

 

The Cedar Sauna Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

4

Stocks

2023
£

2022
£

Stock

58,943

-

5

Debtors

Current

2023
£

2022
£

Trade debtors

13,312

60

Other debtors

2,970

4,673

 

16,282

4,733

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Other borrowings

28,859

9,748

Trade creditors

 

8,092

1,280

Taxation and social security

 

9,004

-

Other creditors

 

100,746

47,626

 

146,701

58,654

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Other borrowings

4,583

-

7. Prior period adjustments

The accounts have been restated to correct the previous years balance sheet. The change has resulted in no amendment to taxation or distributable profits as at 31 July 2022.

Summary of prior year accounting impact
Decrease in debtors - Other debtors £4,673
Increase in creditors - Other creditors £30,703
Decrease in creditors - Other creditors £26,030