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REGISTERED NUMBER: 05383678 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

SAPPHIRE SPAS LIMITED

SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)






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


SAPPHIRE SPAS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr A McBride
Mr K Ruggles





SECRETARY: Mr K Ruggles





REGISTERED OFFICE: Unit A1 Rowood Estate
Murdock Road
Bicester
Oxfordshire
OX26 4PP





REGISTERED NUMBER: 05383678 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Eden House
Two Rivers Business Park
Witney
Oxfordshire
OX28 4BL

SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 3,058
Tangible assets 5 22,041 37,356
22,041 40,414

CURRENT ASSETS
Stocks 198,722 297,555
Debtors 6 39,740 38,520
Cash at bank and in hand 14,419 70,768
252,881 406,843
CREDITORS
Amounts falling due within one year 7 163,803 231,581
NET CURRENT ASSETS 89,078 175,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,119

215,676

CREDITORS
Amounts falling due after more than one
year

8

(12,435

)

(22,395

)

PROVISIONS FOR LIABILITIES 9 - (7,098 )
NET ASSETS 98,684 186,183

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 98,584 186,083
SHAREHOLDERS' FUNDS 98,684 186,183

SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)

BALANCE SHEET - continued
31 MARCH 2024


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.

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 20 November 2024 and were signed on its behalf by:




Mr A McBride - Director



Mr K Ruggles - Director


SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)

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

1. STATUTORY INFORMATION

Sapphire Spas 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Website development is to be amortised evenly over its estimated useful life of 3 years from the date it became available.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 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.

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.

SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 9 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Website
development
£   
COST
At 1 April 2023
and 31 March 2024 9,174
AMORTISATION
At 1 April 2023 6,116
Amortisation for year 3,058
At 31 March 2024 9,174
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 3,058

SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)

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

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 19,915 87,236 3,586 110,737
Additions 3,085 19,036 - 22,121
Disposals - (68,772 ) - (68,772 )
At 31 March 2024 23,000 37,500 3,586 64,086
DEPRECIATION
At 1 April 2023 14,798 55,150 3,433 73,381
Charge for year 1,640 5,159 153 6,952
Eliminated on disposal - (38,288 ) - (38,288 )
At 31 March 2024 16,438 22,021 3,586 42,045
NET BOOK VALUE
At 31 March 2024 6,562 15,479 - 22,041
At 31 March 2023 5,117 32,086 153 37,356

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,328 14,272
Other debtors 11,250 11,250
Tax 708 -
VAT 8,505 -
Deferred tax asset 4,256 -
Prepayments 10,693 12,998
39,740 38,520

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 12,258 10,000
Trade creditors 111,312 184,533
Tax - 708
VAT - 4,580
Deposits received in advance 35,433 26,665
Accrued expenses 4,800 5,095
163,803 231,581

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,500 10,200
Bank loans - 2-5 years 1,935 12,195
12,435 22,395

SAPPHIRE SPAS LIMITED (REGISTERED NUMBER: 05383678)

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

9. PROVISIONS FOR LIABILITIES
31.3.23
£   
Deferred tax
Accelerated capital allowances 7,098

Deferred
tax
£   
Balance at 1 April 2023 7,098
Credit to Income Statement during year (11,354 )
Balance at 31 March 2024 (4,256 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

11. PENSION COMMITMENTS

The company operates a money purchase (defined contribution) pension scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £7,252 (2023 - £10,419). As at 31 March 2024 £nil (2023 - £nil) was outstanding.

12. ULTIMATE CONTROLLING PARTY

Mr A McBride and Mr K Ruggles were the controlling parties in the year under review, by virtue of their shareholdings.