Perfect Tan Two Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC320827 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

PERFECT TAN TWO LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

790

987

CURRENT ASSETS

Debtors

5

1,750

1,750

Cash at bank

9,660

545

11,410

2,295

CREDITORS

Amounts falling due within one year

6

27,977

8,645

NET CURRENT LIABILITIES

(16,567

)

(6,350

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(15,777

)

(5,363

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(15,781

)

(5,367

)

SHAREHOLDERS' FUNDS

(15,777

)

(5,363

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 June 2021 and were signed by:

Ms R Donaghey - Director

1.	STATUTORY INFORMATION

Perfect Tan Two Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number:

SC320827

Registered office:

22 Backbrae Street

Kilsyth

G65 0NH

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 and revenue recognition

Turnover represents gross invoiced services to the customer.

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

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2020

and 31 March 2021

17,962

DEPRECIATION

At 1 April 2020

16,975

Charge for year

197

At 31 March 2021

17,172

NET BOOK VALUE

At 31 March 2021

790

At 31 March 2020

987

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Intercompany Loan

1,750

1,750

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other loans

5,000

-

Social security and other taxes

(411

)

(411

)

Directors' current accounts

17,972

4,663

Accrued expenses

5,416

4,393

27,977

8,645

7.	RELATED PARTY DISCLOSURES

The transactions in the year with associated companies were as follows:-

Monies owed from Tan Limited

2020

£

Opening balance

0.00

Add: sums received in year

1,750.00

Less: payments made in year

0.00

Closing Balance

1,750.00

8.	POST BALANCE SHEET EVENTS

As a member of the Beauty sector the business was subject to the mandatory shut down imposed by both the UK and Scottish Governments. As a result, it was required to cease trading as of 01/04/20. During this period staff have been furloughed, laid off, made redundant etc. With staff being placed on furlough the business is eligible for the Government's Coronavirus Job Retention Scheme (CJRS) which will reimburse 80% of the salaries of furloughed staff of all eligible businesses. It has also made an application for a grant through the Scottish Government Coronavirus Business Support Fund and it successfuly received £10,000.

The directors/owners have made it clear that once the restrictions have been lifted they intend to resume trading at full capacity with immediate effect.