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REGISTERED NUMBER: 06365779 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

SALON CONNECT LTD

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALON CONNECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2021







DIRECTORS: Mr A E Mehmet
Mr Y Salih
Mr G Kaymakam





SECRETARY: Mr Y Salih





REGISTERED OFFICE: First Floor Office
34 Great Queen Street
London
WC2B 5AA





REGISTERED NUMBER: 06365779 (England and Wales)





ACCOUNTANTS: NYO Chartered Accountants & Registered Auditors
First Floor Office
34 Great Queen Street
London
WC2B 5AA

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

BALANCE SHEET
30 SEPTEMBER 2021

30.9.21 30.9.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 938 938
Tangible assets 5 15,881 19,273
16,819 20,211

CURRENT ASSETS
Stocks 6 142,000 122,500
Debtors 7 5,042 6,369
Cash at bank and in hand 19,579 41,524
166,621 170,393
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR

8

133,613

119,225
NET CURRENT ASSETS 33,008 51,168
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,827

71,379

CREDITORS: AMOUNTS FALLING
DUE AFTER MORE THAN ONE YEAR

9

(48,720

)

(63,380

)

PROVISIONS FOR LIABILITIES 11 (830 ) (830 )
NET ASSETS 277 7,169

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 177 7,069
SHAREHOLDERS' FUNDS 277 7,169

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.

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

BALANCE SHEET - continued
30 SEPTEMBER 2021


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 Board of Directors and authorised for issue on 7 September 2022 and were signed on its behalf by:




Mr Y Salih - Director Mr A E Mehmet - Director




Mr G Kaymakam - Director


SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. STATUTORY INFORMATION

Salon Connect 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 5 (2020 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 October 2020
and 30 September 2021 938
NET BOOK VALUE
At 30 September 2021 938
At 30 September 2020 938

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

5. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2020 2,900 9,019 10,216 18,995 41,130
Additions - 542 392 - 934
At 30 September 2021 2,900 9,561 10,608 18,995 42,064
DEPRECIATION
At 1 October 2020 - 8,328 8,780 4,749 21,857
Charge for year - 308 457 3,561 4,326
At 30 September 2021 - 8,636 9,237 8,310 26,183
NET BOOK VALUE
At 30 September 2021 2,900 925 1,371 10,685 15,881
At 30 September 2020 2,900 691 1,436 14,246 19,273

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2020
and 30 September 2021 18,995
DEPRECIATION
At 1 October 2020 4,749
Charge for year 3,561
At 30 September 2021 8,310
NET BOOK VALUE
At 30 September 2021 10,685
At 30 September 2020 14,246

6. STOCKS
30.9.21 30.9.20
£    £   
Stocks 142,000 122,500

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Trade debtors - 399
Prepayments and accrued income 5,042 5,970
5,042 6,369

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.21 30.9.20
£    £   
Bank loans and overdrafts (see note 10) 9,586 783
Hire purchase contracts 2,649 2,649
Trade creditors 44,741 48,554
Tax 2,477 (4,306 )
Social security and other taxes 645 976
Net wages 316 -
Pension payables 403 279
VAT 3,604 14,185
Related party 50,598 43,000
Directors' current accounts 1,548 2,439
Accrued expenses 17,046 10,666
133,613 119,225

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.21 30.9.20
£    £   
Bank loans (see note 10) 37,206 49,217
Hire purchase contracts 11,514 14,163
48,720 63,380

10. 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 9,586 783

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,829 9,527

Amounts falling due between two and five years:
Bank loans - 2-5 years 27,377 39,690

SALON CONNECT LTD (REGISTERED NUMBER: 06365779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2021

11. PROVISIONS FOR LIABILITIES
30.9.21 30.9.20
£    £   
Deferred tax 830 830

Deferred
tax
£   
Balance at 1 October 2020 830
Balance at 30 September 2021 830

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 30.9.21 30.9.20
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 October 2020 7,069
Profit for the year 7,508
Dividends (14,400 )
At 30 September 2021 177