Buff Urban Day Spa Limited - Period Ending 2018-03-31

Buff Urban Day Spa Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2018

Registration number: 06337622

Buff Urban Day Spa Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 8

Buff Urban Day Spa Limited

Company Information

Directors

Mrs S O'Brien Miss L M Brown

Registered office

Ground Floor, Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Accountants

Francis Clark LLP Ground Floor Blackbrook Gate 1 Blackbrook Business Park Taunton Somerset TA1 2PX

Page 1

Buff Urban Day Spa Limited

Balance Sheet

31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	22,773	30,623
Current assets
Stocks		35,867	37,439
Debtors	5	8,949	6,902
Cash at bank and in hand		58,589	52,154
		103,405	96,495
Creditors: Amounts falling due within one year	6	(126,110)	(126,800)
Net current liabilities		(22,705)	(30,305)
Net assets		68	318
Capital and reserves
Called up share capital		100	100
Profit and loss account		(32)	218
Total equity		68	318

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 2

Buff Urban Day Spa Limited

Balance Sheet

31 March 2018

For the financial year ending 31 March 2018 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 17 August 2018 and signed on its behalf by:
 

......................................... Mrs S O'Brien Director

Company Registration Number: 06337622

The notes on pages 4 to 8 form an integral part of these financial statements.

Page 3

Buff Urban Day Spa Limited

Notes to the Financial Statements

Year Ended 31 March 2018

1	General information

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

The address of its registered office is:
Ground Floor, Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset
TA1 2PX

The principal place of business is:
22-24 Station Road
Taunton
Somerset
TA1 1NL

These financial statements were authorised for issue by the Board on 17 August 2018.

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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

The turnover shown in the Profit and Loss Account represents amounts invoiced during the period exclusive of Value Added Tax.

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 corporation 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.

Page 4

Buff Urban Day Spa Limited

Notes to the Financial Statements

Year Ended 31 March 2018

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
Motor vehicles	25% 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.

Defined contribution pension obligation

The company operates a defined benefit pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2017 - 11).

Page 5

Buff Urban Day Spa Limited

Notes to the Financial Statements

Year Ended 31 March 2018

4	Tangible assets

	Motor vehicles  £	Plant and machinery  £	Total £
Cost or valuation
At 1 April 2017	636	73,058	73,694
Disposals	(636)	-	(636)
At 31 March 2018	-	73,058	73,058
Depreciation
At 1 April 2017	379	42,692	43,071
Charge for the year	-	7,593	7,593
Eliminated on disposal	(379)	-	(379)
At 31 March 2018	-	50,285	50,285
Carrying amount
At 31 March 2018	-	22,773	22,773
At 31 March 2017	257	30,366	30,623

5

Debtors

	2018  £	2017  £
Trade debtors	3,598	1,215
Other debtors	5,351	5,687
	8,949	6,902

6

Creditors

Creditors: amounts falling due within one year

	2018  £	2017  £
Due within one year
Trade creditors	26,186	24,259
Corporation tax	3,716	4,432
Social security and other taxes	22,307	2,552
Other creditors	73,901	95,557
	126,110	126,800

Page 6

Buff Urban Day Spa Limited

Notes to the Financial Statements

Year Ended 31 March 2018

7	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £325,000 (2017 - £355,000).

9	Related party transactions

Summary of transactions with parent

During the current and previous year a loan account existed between the company and the parent company.

The amount due at the year end and shown in amounts due from group companies was £7,441 (2017: £12,280 due to)


 This loan is interest free and repayable on demand.
 

Summary of transactions with other related parties

Companies wholly or partially owned by the parent company.

 During the current and previous years a loan account existed between the company and other related party companies.

The amounts due at the year end and shown in amounts due to group companies was £12,142 (2017: £12,142).

These loans are interest free and repayable on demand.
 

Page 7

Buff Urban Day Spa Limited

Notes to the Financial Statements

Year Ended 31 March 2018

Income and receivables from related parties

2018	Other related parties £
Receipt of services	2,146
Amounts receivable from related party	2,146

2017	Other related parties £
Receipt of services	2,373
Amounts receivable from related party	1,215

Expenditure with and payables to related parties

2018	Parent £
Rendering of services	42,509
Amounts payable to related party	10,807

2017	Parent £
Rendering of services	34,580
Amounts payable to related party	3,226

10	Parent and ultimate parent undertaking

The ultimate parent is O'Brien Investments Ltd, incorporated in England & Wales.

  These financial statements are available upon request from Companies House.

 The ultimate controlling party is Mrs S O'Brien by virtue of her ownership of all of the share capital of O'Brien Investments Ltd.

Page 8