The Spa Circle Ltd |
Notes to the Accounts |
for the year ended 31 December 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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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. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Other debtors |
419 |
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380 |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Taxation and social security costs |
6,590 |
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6,590 |
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Other creditors |
71,081 |
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70,036 |
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77,671 |
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76,626 |
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Other creditors included related party transaction £63,472 (December 2021 - £57,472). See note 5 below. |
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5 |
Related party transactions |
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The Stage Brands Ltd is a related party of The Spa Circle Ltd by virture of 100% shareholding of the director in both companies. Transactions between both companies as at 31 December 2022 is £63,472 (December 2021 - £57,472). See note 4 above. |
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6 |
Ging concern |
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The director is aware of the company's position and will continue to support the company. The accounts are therefore prepared on the going concern basis. |
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7 |
Other information |
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The Spa Circle Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Central House |
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124 High Street |
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Hamption Hill |
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Middlesex |
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TW12 1NS |