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Registration number: 09435170

SFJ Tanning Limited

Report of the Directors and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

SFJ Tanning Limited

Contents of The Financial Statements
for the Year Ended 31 October 2024

 

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 10

 

SFJ Tanning Limited

Company Information
for the Year Ended 31 October 2024

Directors

Mr Justin Charles Speller

Mr Robert Gary Foster-Jones

Registered office

FLOOR 1 OFFICE
10 CHANDLERS WAY
SOUTH WOODHAM FERRERS
ESSEX
CM3 5TB

Accountants

Insight Strategic Associates
Chartered Certified Accountants10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
SFJ Tanning Limited
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SFJ Tanning Limited for the year ended 31 October 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
 

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
 

This report is made solely to the Board of Directors of SFJ Tanning Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of SFJ Tanning Limited and state those matters that we have agreed to state to the Board of Directors of SFJ Tanning Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SFJ Tanning Limited and its Board of Directors as a body for our work or for this report.
 

It is your duty to ensure that SFJ Tanning Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SFJ Tanning Limited. You consider that SFJ Tanning Limited is exempt from the statutory audit requirement for the year.
 

We have not been instructed to carry out an audit or a review of the accounts of SFJ Tanning Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Insight Strategic Associates
Chartered Certified Accountants
10 Towerfield Road
Shoeburyness
Essex
SS3 9QE

30 January 2025

 

SFJ Tanning Limited

(Registration number: 09435170 )
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

400,000

997,141

Cash at bank and in hand

 

-

23,041

 

400,000

1,020,182

Creditors: Amounts falling due within one year

5

(328,345)

(1,193,188)

Total assets less current liabilities

 

71,655

(173,006)

Creditors: Amounts falling due after more than one year

5

(6,226)

(18,514)

Net assets/(liabilities)

 

65,429

(191,520)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

65,329

(191,620)

Shareholders' funds/(deficit)

 

65,429

(191,520)

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr Justin Charles Speller
Director

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
FLOOR 1 OFFICE
10 CHANDLERS WAY
SOUTH WOODHAM FERRERS
ESSEX
CM3 5TB

These financial statements were authorised for issue by the Board on 30 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 119 (2023 - 75).

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Debtors

Current

2024
£

2023
£

Prepayments

400,000

-

Other debtors

-

997,141

 

400,000

997,141

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,000

9,721

Taxation and social security

 

97,284

147,455

Accruals and deferred income

 

1,842

1,739

Other creditors

 

219,219

1,034,273

 

328,345

1,193,188

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

6,226

18,514

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

6,226

18,514

Current loans and borrowings

 

SFJ Tanning Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Loans and borrowings (continued)

2024
£

2023
£

Other borrowings

10,000

9,721

8

Related party transactions

At the year end, the company owed £0 (2023: £934,427) to SFJ Property and Equipment Limited and £219,219 (2023: -£937,121) by SFJ Group Limited, both companies under common control.

During the year SFJ Tanning Limited charged £950,000 (2023: £1,550,000) to SFJ Group Limited in respect of labour.