Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01false0sale of spas0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03685078 2023-01-01 2023-12-31 03685078 2022-01-01 2022-12-31 03685078 2023-12-31 03685078 2022-12-31 03685078 c:Director1 2023-01-01 2023-12-31 03685078 d:FurnitureFittings 2023-01-01 2023-12-31 03685078 d:FurnitureFittings 2023-12-31 03685078 d:FurnitureFittings 2022-12-31 03685078 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03685078 d:CurrentFinancialInstruments 2023-12-31 03685078 d:CurrentFinancialInstruments 2022-12-31 03685078 d:Non-currentFinancialInstruments 2023-12-31 03685078 d:Non-currentFinancialInstruments 2022-12-31 03685078 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03685078 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03685078 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03685078 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03685078 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03685078 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03685078 d:ShareCapital 2023-12-31 03685078 d:ShareCapital 2022-12-31 03685078 d:RetainedEarningsAccumulatedLosses 2023-12-31 03685078 d:RetainedEarningsAccumulatedLosses 2022-12-31 03685078 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 03685078 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 03685078 c:FRS102 2023-01-01 2023-12-31 03685078 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03685078 c:FullAccounts 2023-01-01 2023-12-31 03685078 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03685078 d:WithinOneYear 2023-12-31 03685078 d:WithinOneYear 2022-12-31 03685078 d:BetweenOneFiveYears 2023-12-31 03685078 d:BetweenOneFiveYears 2022-12-31 03685078 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03685078









SOLSTICE LEISURE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SOLSTICE LEISURE LIMITED
REGISTERED NUMBER: 03685078

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,134
9,570

  
8,134
9,570

Current assets
  

Stocks
 5 
46,000
62,000

Debtors: amounts falling due within one year
 6 
3,097
7,356

Cash at bank and in hand
 7 
54,433
48,522

  
103,530
117,878

Creditors: amounts falling due within one year
 8 
(70,732)
(76,108)

Net current assets
  
 
 
32,798
 
 
41,770

Total assets less current liabilities
  
40,932
51,340

Creditors: amounts falling due after more than one year
 9 
(11,534)
(19,334)

  

Net assets
  
29,398
32,006


Capital and reserves
  

Called up share capital 
  
101
101

Profit and loss account
  
29,297
31,905

  
29,398
32,006

Page 1

 
SOLSTICE LEISURE LIMITED
REGISTERED NUMBER: 03685078
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 September 2024.





................................................
Stephen Crabb
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
SOLSTICE LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Company is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was that of supply of spa related products and treatments.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
SOLSTICE LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings & equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term 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.

Page 4

 
SOLSTICE LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £0).

Page 5

 
SOLSTICE LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Fixtures, fittings & equipment

£



Cost or valuation


At 1 January 2023
18,335



At 31 December 2023

18,335



Depreciation


At 1 January 2023
8,765


Charge for the year on owned assets
1,436



At 31 December 2023

10,201



Net book value



At 31 December 2023
8,134



At 31 December 2022
9,570


5.


Stock and work in progress

2023
2022
£
£

Stock in hand
46,000
62,000

46,000
62,000


Page 6

 
SOLSTICE LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
1,297
5,556

Prepayments and accrued income
1,800
1,800

3,097
7,356



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
54,433
48,522

54,433
48,522



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,000
8,000

Trade creditors
-
1,368

Amounts owed to group undertakings
59,138
63,201

Other creditors
2,399
2,399

Accruals and deferred income
1,195
1,140

70,732
76,108



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
11,534
19,334

11,534
19,334


Page 7

 
SOLSTICE LEISURE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,000
8,000


Amounts falling due 2-5 years

Bank loans
11,534
19,334


19,534
27,334



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
54,433
48,522




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
9,645
9,645

Later than 1 year and not later than 5 years
4,391
14,037

14,036
23,682


13.


Controlling party

The Company is controlled by the director, Stephen Crabb, by virtue of his shareholding as described in the Director's report.
 
Page 8