Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Tranquility Nail And Beauty Salon Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A Wagstaff

REGISTERED OFFICE:

146 High Street

Billericay

Essex

CM12 9DF

REGISTERED NUMBER:

11608563 (England and Wales)

ACCOUNTANTS:

Michael Letch & Partners LLP

Accountants

146 High Street

Billericay

Essex

CM12 9DF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

15,947

11,762

15,947

11,762

CURRENT ASSETS

Stocks

16,500

10,021

Debtors

6

12,163

8,726

Cash at bank and in hand

15,307

46,020

43,970

64,767

CREDITORS

Amounts falling due within one year

7

118,307

121,308

NET CURRENT LIABILITIES

(74,337

)

(56,541

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(58,390

)

(44,779

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(58,490

)

(44,879

)

(58,390

)

(44,779

)

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

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

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 September 2025 and were signed by:

Mrs A Wagstaff - Director

1.	STATUTORY INFORMATION

Tranquility Nail And Beauty Salon Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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.

Plant and machinery etc

-

25% on reducing balance

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 Statement of Income and Retained Earnings, 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.

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 6 (2023 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

21,000

AMORTISATION

At 1 January 2024

and 31 December 2024

21,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

10,555

30,801

41,356

Additions

9,500

-

9,500

At 31 December 2024

20,055

30,801

50,856

DEPRECIATION

At 1 January 2024

6,102

23,492

29,594

Charge for year

3,488

1,827

5,315

At 31 December 2024

9,590

25,319

34,909

NET BOOK VALUE

At 31 December 2024

10,465

5,482

15,947

At 31 December 2023

4,453

7,309

11,762

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

8,250

8,250

Prepayments

3,913

476

12,163

8,726

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

1

Social security and other taxes

11,744

14,376

Pension

-

478

Other creditors

51,451

51,451

Directors' current accounts

51,112

51,112

Accruals and deferred income

4,000

3,890

118,307

121,308