Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truetrue2023-04-01falseTherapy11The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07418051 2023-04-01 2024-03-31 07418051 2022-04-01 2023-03-31 07418051 2024-03-31 07418051 2023-03-31 07418051 c:Director1 2023-04-01 2024-03-31 07418051 d:FurnitureFittings 2023-04-01 2024-03-31 07418051 d:OtherPropertyPlantEquipment 2024-03-31 07418051 d:OtherPropertyPlantEquipment 2023-03-31 07418051 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07418051 d:CurrentFinancialInstruments 2024-03-31 07418051 d:CurrentFinancialInstruments 2023-03-31 07418051 d:Non-currentFinancialInstruments 2024-03-31 07418051 d:Non-currentFinancialInstruments 2023-03-31 07418051 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07418051 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07418051 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07418051 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07418051 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07418051 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07418051 d:ShareCapital 2024-03-31 07418051 d:ShareCapital 2023-03-31 07418051 d:RetainedEarningsAccumulatedLosses 2024-03-31 07418051 d:RetainedEarningsAccumulatedLosses 2023-03-31 07418051 c:FRS102 2023-04-01 2024-03-31 07418051 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07418051 c:FullAccounts 2023-04-01 2024-03-31 07418051 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 07418051






AMBIANCE & SOLACE THERAPIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










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AMBIANCE & SOLACE THERAPIES LIMITED
REGISTERED NUMBER:07418051

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
58
77

  
58
77

Current assets
  

Stocks
 6 
35
35

Cash at bank and in hand
 7 
189
668

  
224
703

Creditors: amounts falling due within one year
 8 
(62,878)
(58,012)

Net current liabilities
  
 
 
(62,654)
 
 
(57,309)

Total assets less current liabilities
  
(62,596)
(57,232)

Creditors: amounts falling due after more than one year
 9 
(467)
(867)

  

Net liabilities
  
(63,063)
(58,099)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(63,064)
(58,100)

  
(63,063)
(58,099)


Page 1

 
AMBIANCE & SOLACE THERAPIES LIMITED
REGISTERED NUMBER:07418051
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 her 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 by: 




B Ronewicz
Director

Date: 27 November 2024

Page 2

 
AMBIANCE & SOLACE THERAPIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Ambiance and Solace Therapies Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is 24 Willian Road, Hitchin, SG4 0LS.
The principal activity of the company continued to be that of therapy.

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

Going concern

The financial statements have been prepared on a going concern basis, despite the net current liabilities, due to the continuing support of the director.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
AMBIANCE & SOLACE THERAPIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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
-
25% 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 weighted average 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

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.

 
2.9

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

 
AMBIANCE & SOLACE THERAPIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

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.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.
Page 5

 
AMBIANCE & SOLACE THERAPIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)


Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 -1).

Page 6

 
AMBIANCE & SOLACE THERAPIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Taxation

Factors that may affect future tax charges 

The company has estimated losses of £62,635 (2023: £58,040) available for carry forward against future trading profits.


5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2023
695



At 31 March 2024

695



Depreciation


At 1 April 2023
618


Charge for the year on owned assets
19



At 31 March 2024

637



Net book value



At 31 March 2024
58



At 31 March 2023
77


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
35
35

35
35


Page 7

 
AMBIANCE & SOLACE THERAPIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
189
668

189
668



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
400
400

Trade creditors
250
68

Other creditors
61,448
56,884

Accruals and deferred income
780
660

62,878
58,012



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
467
867

467
867



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
400
400

Amounts falling due 1-2 years

Bank loans
467
867



867
1,267


 
Page 8