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REGISTERED NUMBER: 09364835 (England and Wales)















SKY NAILS BARS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SKY NAILS BARS LIMITED (REGISTERED NUMBER: 09364835)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SKY NAILS BARS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Ms T M Tran





REGISTERED OFFICE: 2 Queensgate Centre
Orsett Road
Grays
Essex
RM17 5DF





REGISTERED NUMBER: 09364835 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

SKY NAILS BARS LIMITED (REGISTERED NUMBER: 09364835)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,549 2,851

CURRENT ASSETS
Stocks 5 8,908 9,493
Debtors 6 - 439
Cash at bank and in hand 2,919 1,342
11,827 11,274
CREDITORS
Amounts falling due within one year 7 (38,524 ) (55,523 )
NET CURRENT LIABILITIES (26,697 ) (44,249 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(24,148

)

(41,398

)

CREDITORS
Amounts falling due after more than one
year

8

(9,467

)

(16,000

)
NET LIABILITIES (33,615 ) (57,398 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (33,715 ) (57,498 )
(33,615 ) (57,398 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SKY NAILS BARS LIMITED (REGISTERED NUMBER: 09364835)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 28 March 2024 and were signed by:





Ms T M Tran - Director


SKY NAILS BARS LIMITED (REGISTERED NUMBER: 09364835)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sky Nails Bars Limited 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.

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.
Plant and machinery - 25% on reducing balance
Fixture & Fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 - 6 ) .

SKY NAILS BARS LIMITED (REGISTERED NUMBER: 09364835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and Fixture & Computer
machinery Fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 291 8,480 2,758 11,529
Additions - - 433 433
At 31 December 2023 291 8,480 3,191 11,962
DEPRECIATION
At 1 January 2023 127 6,756 1,795 8,678
Charge for year 41 345 349 735
At 31 December 2023 168 7,101 2,144 9,413
NET BOOK VALUE
At 31 December 2023 123 1,379 1,047 2,549
At 31 December 2022 164 1,724 963 2,851

5. STOCKS
2023 2022
£    £   
Stocks 8,908 9,493

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments - 439

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,000 8,201
Trade creditors 196 230
Social security and other taxes 17 5,427
VAT 10,248 8,154
Sundry creditors 3,340 2,888
Directors' current accounts 16,136 28,155
Accrued expenses 2,587 2,468
38,524 55,523

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 6,000 6,000
Bank loans - 2-5 years 3,467 10,000
9,467 16,000

SKY NAILS BARS LIMITED (REGISTERED NUMBER: 09364835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. GOING CONCERN

These accounts have been prepared on a going concern basis, on the understanding that the directors and shareholder will continue to financially support the company.