Aegean Spas Limited

Contents

Statement of financial position	1
Notes to the Unaudited Financial Statements	2 to 7

Aegean Spas Limited

(Registration number: 2157280)
Statement of financial position as at 30 June 2025

	Note	2025 £	2023 £
Fixed assets
Tangible assets	4	8,122	10,155
Current assets
Stocks	5	1,000	23,500
Debtors	6	124,755	113,339
Cash at bank and in hand		594	595
		126,349	137,434
Creditors: Amounts falling due within one year	7	(108,748)	(111,744)
Net current assets		17,601	25,690
Total assets less current liabilities		25,723	35,845
Creditors: Amounts falling due after more than one year	7	(22,732)	(24,785)
Provisions for liabilities		(1,543)	(1,929)
Net assets		1,448	9,131
Capital and reserves
Called up share capital	8	100	100
Retained earnings		1,348	9,031
Shareholders' funds		1,448	9,131

For the financial period ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 10 October 2025
 

......................................... Mr C Perry Director

Aegean Spas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2025

1	General information

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

The address of its registered office is:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 10 October 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Aegean Spas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2025

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Furniture, fittings and equipment	10% reducing balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Aegean Spas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2025

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 income statement 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2023 - 2).

Aegean Spas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2025

4	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2024	47,470	25,322	72,792
Additions	-	980	980
At 30 June 2025	47,470	26,302	73,772
Depreciation
At 1 January 2024	42,678	19,959	62,637
Charge for the period	716	2,297	3,013
At 30 June 2025	43,394	22,256	65,650
Carrying amount
At 30 June 2025	4,076	4,046	8,122
At 31 December 2023	4,792	5,363	10,155

5

Stocks

	2025 £	2023 £
Finished goods and goods for resale	1,000	23,500

6

Debtors

Current	2025 £	2023 £
Trade debtors	2,125	22,734
Prepayments	88	290
Other debtors	122,542	90,315
	124,755	113,339

Aegean Spas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2023 £
Due within one year
Loans and borrowings	9	60,360	25,374
Trade creditors		25,146	39,015
Taxation and social security		11,271	28,174
Accruals and deferred income		4,000	4,000
Other creditors		7,971	15,181
		108,748	111,744

Creditors: amounts falling due after more than one year

	Note	2025 £	2023 £
Due after one year
Loans and borrowings	9	22,732	24,785

8	Share capital

Allotted, called up and fully paid shares

	2025		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Aegean Spas Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2023 £
Other borrowings	22,732	24,785

Current loans and borrowings

	2025 £	2023 £
Bank borrowings	28,939	11,941
Bank overdrafts	26,621	3,433
Other borrowings	4,800	10,000
	60,360	25,374

10	Related party transactions

Transactions with the director

2025	At 1 January 2024 £	Advances to director £	Repayments by director £	At 30 June 2025 £
Mr C Perry
Loan	81,351	108,537	(81,351)	108,537

2023	At 1 January 2023 £	Advances to director £	Repayments by director £	At 31 December 2023 £
Mr C Perry
Loan	59,704	81,351	(59,704)	81,351
Mr M D Ward
Loan	1,332	-	(1,332)	-