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REGISTERED NUMBER: SC555802 (Scotland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

SALON 1873 LIMITED

SALON 1873 LIMITED (REGISTERED NUMBER: SC555802)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2022




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


SALON 1873 LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2022







DIRECTOR: Mrs D McArthur





REGISTERED OFFICE: 13 Glasgow Road
Paisley
PA1 3QS





REGISTERED NUMBER: SC555802 (Scotland)





ACCOUNTANTS: Profit Counts Limited
13 Glasgow Road
Paisley
Renfrewshire
PA1 3QS

SALON 1873 LIMITED (REGISTERED NUMBER: SC555802)

ABRIDGED BALANCE SHEET
31 March 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 45,988 49,079
Tangible assets 5 29,862 35,311
75,850 84,390

CURRENT ASSETS
Stocks 750 563
Debtors 166 165
Cash at bank and in hand 49,829 54,590
50,745 55,318
CREDITORS
Amounts falling due within one year 54,032 76,946
NET CURRENT LIABILITIES (3,287 ) (21,628 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,563

62,762

CREDITORS
Amounts falling due after more than one
year

(40,836

)

(41,667

)

PROVISIONS FOR LIABILITIES (1,152 ) (1,622 )
NET ASSETS 30,575 19,473

CAPITAL AND RESERVES
Called up share capital 6 2 2
Retained earnings 30,573 19,471
SHAREHOLDERS' FUNDS 30,575 19,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.

SALON 1873 LIMITED (REGISTERED NUMBER: SC555802)

ABRIDGED BALANCE SHEET - continued
31 March 2022


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 Balance Sheet for the year ended 31 March 2022 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 director and authorised for issue on 20 June 2022 and were signed by:





Mrs D McArthur - Director


SALON 1873 LIMITED (REGISTERED NUMBER: SC555802)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Salon 1873 Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

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 2017, is being amortised evenly over its estimated useful life of twenty 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.
Freehold property - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

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.

SALON 1873 LIMITED (REGISTERED NUMBER: SC555802)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2021 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 April 2021
and 31 March 2022 61,826
AMORTISATION
At 1 April 2021 12,747
Amortisation for year 3,091
At 31 March 2022 15,838
NET BOOK VALUE

At 31 March 2022 45,988
At 31 March 2021 49,079

Cost or valuation at 31 March 2022 is represented by:

Totals
£   
Valuation in 2022 61,826

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2021
and 31 March 2022 48,251
DEPRECIATION
At 1 April 2021 12,940
Charge for year 5,449
At 31 March 2022 18,389
NET BOOK VALUE
At 31 March 2022 29,862
At 31 March 2021 35,311

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2 Ordinary £1 2 2

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed the Director £24,689 (2021 : £49,182)