Company registration number 12026288 (England and Wales)
HONITON SPA AND HOT TUBS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HONITON SPA AND HOT TUBS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HONITON SPA AND HOT TUBS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
786
925
Current assets
Stocks
2,523
14,570
Debtors
4
50,905
50,120
Cash at bank and in hand
4,306
11,616
57,734
76,306
Creditors: amounts falling due within one year
5
(11,973)
(20,164)
Net current assets
45,761
56,142
Total assets less current liabilities
46,547
57,067
Creditors: amounts falling due after more than one year
6
(21,240)
(20,577)
Net assets
25,307
36,490
Capital and reserves
Called up share capital
300
300
Profit and loss reserves
25,007
36,190
Total equity
25,307
36,490

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 23 August 2024
Mr A S Vatter
Director
Company registration number 12026288 (England and Wales)
HONITON SPA AND HOT TUBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Honiton Spa and Hot Tubs Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Gloucester Court, Gloucester Close, Heathpark Industrial Estate, Honiton, Devon, EX14 1SJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HONITON SPA AND HOT TUBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 and 31 December 2023
1,000
Depreciation and impairment
At 1 January 2023
75
Depreciation charged in the year
139
At 31 December 2023
214
Carrying amount
At 31 December 2023
786
At 31 December 2022
925
HONITON SPA AND HOT TUBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
20,459
16,886
Other debtors
30,446
33,234
50,905
50,120
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
2,452
6,920
Trade creditors
2,471
1,658
Taxation and social security
-
0
2,696
Other creditors
7,050
8,890
11,973
20,164
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
21,240
20,577
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable by instalments
10,795
-
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
164,100
192,300
HONITON SPA AND HOT TUBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
8
Directors' transactions

Advances or credits have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
One director
2.25
5,550
2,097
(6,000)
1,647
5,550
2,097
(6,000)
1,647

The aforementioned advances are interest free, unsecured and repayable on demand.

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