Body Inc. Spas Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08176992 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

BODY INC. SPAS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G S Bansal

Mrs R V Bansal

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

08176992 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

17,452

16,052

CURRENT ASSETS

Stocks

1,941

4,215

Debtors

610

2,664

Cash at bank

6,022

14,247

8,573

21,126

CREDITORS

Amounts falling due within one year

120,815

102,962

NET CURRENT LIABILITIES

(112,242

)

(81,836

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(94,790

)

(65,784

)

CREDITORS

Amounts falling due after more than one year

5

30,600

33,600

NET LIABILITIES

(125,390

)

(99,384

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(125,490

)

(99,484

)

SHAREHOLDERS' FUNDS

(125,390

)

(99,384

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 September 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2022 and were signed on its behalf by:

Mrs R V Bansal - Director

1.	STATUTORY INFORMATION

Body Inc. Spas Limited 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 represents amounts derived from the provision of services to customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

Over the term of lease

Fixtures & equipment

-

20% on reducing balance

Government grants

Government grants represents income received in the form of the Job Retention Scheme (JRS) and the small business grant fund (SBGF) received from the Government during the COVID-19 pandemic. The Government Grant also represents the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

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 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 1 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2020

103,981

Additions

14,569

Disposals

(50,536

)

At 30 September 2021

68,014

DEPRECIATION

At 1 October 2020

87,929

Charge for year

4,513

Eliminated on disposal

(41,880

)

At 30 September 2021

50,562

NET BOOK VALUE

At 30 September 2021

17,452

At 30 September 2020

16,052

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

30.9.21

30.9.20

£

£

Repayable by instalments

Bank loans more 5 yr by instal

1,800

4,800

6.

LOANS

An analysis of the maturity of loans is given below:

30.9.21

30.9.20

£

£

Amounts falling due within one year or on demand:

Bank loans

5,701

2,400

30.9.21

30.9.20

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

7,200

7,200

Amounts falling due between two and five years:

Bank loans - 2-5 years

21,600

21,600

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,800

4,800

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.21

30.9.20

value:

£

£

100

Ordinary

£1

100

100