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REGISTERED NUMBER: SC489648 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

TANNING CONCEPTS LIMITED

TANNING CONCEPTS LIMITED (REGISTERED NUMBER: SC489648)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


TANNING CONCEPTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTORS: James Sweeney
Helen Oxley





REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT





BUSINESS ADDRESS: 2 Drygate Street
Larkhall
ML9 2AJ





REGISTERED NUMBER: SC489648 (Scotland)





ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT

TANNING CONCEPTS LIMITED (REGISTERED NUMBER: SC489648)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Debtors 5 68,067 50,607
Cash at bank 136,731 167,182
204,798 217,789
CREDITORS
Amounts falling due within one year 6 9,473 9,010
NET CURRENT ASSETS 195,325 208,779
TOTAL ASSETS LESS CURRENT
LIABILITIES

195,325

208,779

CREDITORS
Amounts falling due after more than one
year

7

35,763

45,833
NET ASSETS 159,562 162,946

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 159,561 162,945
SHAREHOLDERS' FUNDS 159,562 162,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 February 2024 and were signed on its behalf by:



James Sweeney - Director


TANNING CONCEPTS LIMITED (REGISTERED NUMBER: SC489648)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Tanning Concepts Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Equipment - 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


TANNING CONCEPTS LIMITED (REGISTERED NUMBER: SC489648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statement, 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 yearend 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.

Provisions for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

3. AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL (2021 - NIL).

4. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 January 2022
and 31 December 2022 14,000
DEPRECIATION
At 1 January 2022
and 31 December 2022 14,000
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Other debtors 53,000 3,000
Director's loan 15,067 47,607
68,067 50,607

TANNING CONCEPTS LIMITED (REGISTERED NUMBER: SC489648)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Bank loans and overdrafts 8,333 4,167
Corporation tax - 2,545
Accrued charges 1,140 2,298
9,473 9,010

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans 35,763 45,833

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22 31.12.21
£    £   
Helen Oxley and James Sweeney
Balance outstanding at start of year 47,607 47,607
Amounts advanced (32,540 ) -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,067 47,607

The above balance, which is due from the directors, is interest free, unsecured and have no fixed repayment terms.