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REGISTERED NUMBER: 04691132 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

YOSHIMI SPA LIMITED

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


YOSHIMI SPA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: J L Hills
M W R Hills





SECRETARY: M W R Hills





REGISTERED OFFICE: Yoshimi
Wesley Yard
Newquay
Cornwall
TR7 1LB





REGISTERED NUMBER: 04691132 (England and Wales)





ACCOUNTANTS: Whitakers
Chartered Accountants
Bryndon House
5/7 Berry Road
Newquay
Cornwall
TR7 1AD

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 418,770 432,508
418,770 432,508

CURRENT ASSETS
Stocks 2,500 2,000
Debtors 6 66 2,272
Cash at bank and in hand 10,229 10,108
12,795 14,380
CREDITORS
Amounts falling due within one year 7 63,580 67,795
NET CURRENT LIABILITIES (50,785 ) (53,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

367,985

379,093

CREDITORS
Amounts falling due after more than one
year

8

(136,040

)

(171,545

)

PROVISIONS FOR LIABILITIES (371 ) (998 )
NET ASSETS 231,574 206,550

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 231,474 206,450
SHAREHOLDERS' FUNDS 231,574 206,550

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

BALANCE SHEET - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





J L Hills - Director


YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Yoshimi Spa 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 represents the net receipts from the supply of hairdressing and other beauty treatment, exclusive of Value Added Tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been amortised evenly over it's estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

No depreciation has been charged in respect of freehold property and improvements for accounting periods prior to 31st March 2016. However, following a valuation of the property carried out by the company's bank on 26 April 2017, the market value had dropped lower then the cost of the building.

The directors have therefore depreciated the property evenly over a 50 year period from 1st April 2016 in order to reflect the decrease in the valuation of the company.

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.


YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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 8 (2023 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 480,896 65,463 19,584 10,052 575,995
DEPRECIATION
At 1 April 2023 67,325 57,252 9,144 9,766 143,487
Charge for year 9,618 1,232 2,610 278 13,738
At 31 March 2024 76,943 58,484 11,754 10,044 157,225
NET BOOK VALUE
At 31 March 2024 403,953 6,979 7,830 8 418,770
At 31 March 2023 413,571 8,211 10,440 286 432,508

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 66 2,272

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 37,629 37,629
Corporation tax 11,363 20,260
Social security and other taxes 642 1,047
Other creditors 9,204 6,698
Directors' current accounts 4,652 2,161
Accrued expenses 90 -
63,580 67,795

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 37,629 37,629
Bank loans - 2-5 years 94,929 102,651
Bank loans due after more than
5 years by instalments 3,482 31,265
136,040 171,545

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more than
5 years by instalments 3,482 31,265
3,482 31,265

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 173,669 209,174

The bank overdrafts and flexible business loans are secured by way of a fixed and floating charge over the current and future liabilities of the company.

The bank loan is secured by a legal charge over the company's freehold property at Wesley Yard Newquay, and by a debenture creating a fixed and floating charge over the company's assets and future undertakings.

YOSHIMI SPA LIMITED (REGISTERED NUMBER: 04691132)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
M W R Hills
Balance outstanding at start of year 1,982 (2,518 )
Amounts advanced - 4,500
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,982 1,982

J L Hills
Balance outstanding at start of year 179 (7,132 )
Amounts advanced 9,564 36,893
Amounts repaid (7,073 ) (29,582 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,670 179

11. RELATED PARTY DISCLOSURES

The company's directors, Mr J L Hills and Mr M W R Hills have provided personal guarantees over the company's bank borrowings.

12. ULTIMATE CONTROLLING PARTY

During the year, the company was controlled by its directors, by virtue of the fact that, between them, they own 100% of the company's issued Ordinary share capital.