Registered number
12209125
Lotus Wellbeing Spa Limited
Filleted Accounts
31 December 2023
Mattison & Co
70 High St
Chislehurst
BR7 5AQ
Lotus Wellbeing Spa Limited
Registered number: 12209125
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 98,357 123,142
Current assets
Debtors 4 14,786 2,791
Cash at bank and in hand 111,919 184,510
126,705 187,301
Creditors: amounts falling due within one year 5 (47,781) (32,275)
Net current assets 78,924 155,026
Total assets less current liabilities 177,281 278,168
Creditors: amounts falling due after more than one year 6 - (179,824)
Net assets 177,281 98,344
Capital and reserves
Called up share capital 2 2
Profit and loss account 177,279 98,342
Shareholders' funds 177,281 98,344
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lei Yeow
Director
Approved by the board on 28 August 2024
Lotus Wellbeing Spa Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Refurbishment Costs 10% Straight Line
Fixtures, fittings, tools and equipment 20% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Fixtures, Fittings & Equipment
£
Cost
At 1 January 2023 197,966
Additions 348
At 31 December 2023 198,314
Depreciation
At 1 January 2023 74,824
Charge for the year 25,133
At 31 December 2023 99,957
Net book value
At 31 December 2023 98,357
At 31 December 2022 123,142
4 Debtors 2023 2022
£ £
Trade debtors - 2,165
Prepayments 14,786 626
14,786 2,791
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,678 4,448
Taxation and social security costs 23,121 -
Other creditors 18,982 27,827
47,781 32,275
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors - 179,824
7 Related party transactions
Mee Chong and Lei Yeow equally own the business premises and have recieved rental income of £24,000 during the year.
8 Other information
Lotus Wellbeing Spa Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 High Street
Chislehurst
BR7 5AQ
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