Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.129true2022-04-01falseProvision of hairdressing and other beauty treatementsfalse 11711501 2022-04-01 2023-03-31 11711501 2021-04-01 2022-03-31 11711501 2023-03-31 11711501 2022-03-31 11711501 c:Director1 2022-04-01 2023-03-31 11711501 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 11711501 d:Buildings d:ShortLeaseholdAssets 2023-03-31 11711501 d:Buildings d:ShortLeaseholdAssets 2022-03-31 11711501 d:PlantMachinery 2022-04-01 2023-03-31 11711501 d:PlantMachinery 2023-03-31 11711501 d:PlantMachinery 2022-03-31 11711501 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11711501 d:FurnitureFittings 2022-04-01 2023-03-31 11711501 d:FurnitureFittings 2023-03-31 11711501 d:FurnitureFittings 2022-03-31 11711501 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11711501 d:OfficeEquipment 2022-04-01 2023-03-31 11711501 d:OfficeEquipment 2023-03-31 11711501 d:OfficeEquipment 2022-03-31 11711501 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11711501 d:ComputerEquipment 2022-04-01 2023-03-31 11711501 d:ComputerEquipment 2023-03-31 11711501 d:ComputerEquipment 2022-03-31 11711501 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11711501 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11711501 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-03-31 11711501 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-03-31 11711501 d:CurrentFinancialInstruments 2023-03-31 11711501 d:CurrentFinancialInstruments 2022-03-31 11711501 d:Non-currentFinancialInstruments 2023-03-31 11711501 d:Non-currentFinancialInstruments 2022-03-31 11711501 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11711501 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11711501 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11711501 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 11711501 d:ShareCapital 2023-03-31 11711501 d:ShareCapital 2022-03-31 11711501 d:SharePremium 2023-03-31 11711501 d:SharePremium 2022-03-31 11711501 d:RetainedEarningsAccumulatedLosses 2023-03-31 11711501 d:RetainedEarningsAccumulatedLosses 2022-03-31 11711501 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11711501 c:OrdinaryShareClass1 2023-03-31 11711501 c:OrdinaryShareClass1 2022-03-31 11711501 c:FRS102 2022-04-01 2023-03-31 11711501 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11711501 c:FullAccounts 2022-04-01 2023-03-31 11711501 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11711501 2 2022-04-01 2023-03-31 11711501 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11711501









PRE SALONS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PRE SALONS LTD
REGISTERED NUMBER: 11711501

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
34
214

Tangible assets
 5 
141,721
160,858

  
141,755
161,072

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
24,546
9,631

Cash at bank and in hand
  
332,143
75,873

  
356,689
85,504

Creditors: amounts falling due within one year
 7 
(80,340)
(61,646)

NET CURRENT ASSETS
  
 
 
276,349
 
 
23,858

TOTAL ASSETS LESS CURRENT LIABILITIES
  
418,104
184,930

Creditors: amounts falling due after more than one year
 8 
(65,000)
(92,500)

  

NET ASSETS
  
353,104
92,430


CAPITAL AND RESERVES
  

Called up share capital 
 9 
1,890
1,500

Share premium account
  
790,846
323,500

Profit and loss account
  
(439,632)
(232,570)

  
353,104
92,430


Page 1

 
PRE SALONS LTD
REGISTERED NUMBER: 11711501
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M Gaston-Kennedy
Director

Date: 25 October 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


GENERAL INFORMATION

Pre Salons Ltd is a private company, limited by shares, incorporated in England & Wales. Its registered
office is International House, 6 Molton Street, London, W1K 5QF.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes the Company will continue as a going concern for the forseeable future. The trading losses reported are consistent with the Company's business plan.
Given the development progress achieved, the director has a reasonable expectation that the Company will be able to meet its liabilities as they fall due for the forseeable future and therefore continue to adopt the going concern basis. 

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.4

TURNOVER

Turnover comprises revenue recognised by the Company in respect of the provision of hairdressing
and other beauty treatments supplied during the year, exclusive of Value Added Tax.

 
2.5

OPERATING LEASES: THE COMPANY AS LESSEE

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

Page 3

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.7

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.10
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10%
straight line
Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line
Office equipment
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 12 (2022 - 9).

Page 5

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


INTANGIBLE ASSETS




Trademarks

£



COST


At 1 April 2022
720



At 31 March 2023

720



AMORTISATION


At 1 April 2022
506


Charge for the year on owned assets
180



At 31 March 2023

686



NET BOOK VALUE



At 31 March 2023
34



At 31 March 2022
214



Page 6

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


TANGIBLE FIXED ASSETS





Leasehold Improvements
Plant and machinery
Fixtures and fittings
Office equipment

£
£
£
£



COST OR VALUATION


At 1 April 2022
146,999
6,349
18,400
2,823


Additions
-
189
300
-



At 31 March 2023

146,999
6,538
18,700
2,823



DEPRECIATION


At 1 April 2022
9,860
288
3,842
532


Charge for the year on owned assets
14,343
1,323
3,728
711



At 31 March 2023

24,203
1,611
7,570
1,243



NET BOOK VALUE



At 31 March 2023
122,796
4,927
11,130
1,580



At 31 March 2022
137,139
6,061
14,558
2,291
Page 7

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

           5.TANGIBLE FIXED ASSETS (CONTINUED)


Computer equipment
Total

£
£



COST OR VALUATION


At 1 April 2022
1,295
175,866


Additions
1,064
1,553



At 31 March 2023

2,359
177,419



DEPRECIATION


At 1 April 2022
486
15,008


Charge for the year on owned assets
585
20,690



At 31 March 2023

1,071
35,698



NET BOOK VALUE



At 31 March 2023
1,288
141,721



At 31 March 2022
809
160,858


6.


DEBTORS

2023
2022
£
£


Trade debtors
366
2,010

Other debtors
5,087
707

Prepayments and accrued income
19,093
6,914

24,546
9,631


Page 8

 
PRE SALONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Trade creditors
14,029
19,716

Other taxation and social security
15,544
9,362

Other creditors
48,367
31,318

Accruals and deferred income
2,400
1,250

80,340
61,646


Included within other creditors are amounts due to defined contribution pension schemes of £1,190 (2022
- £965).


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Other creditors
65,000
92,500

65,000
92,500



9.


SHARE CAPITAL

2023
2022
£
£
ALLOTTED, CALLED UP AND FULLY PAID



188,978 (2022 - 150,000) Ordinary shares of £0.01 each
1,890
1,500


On 13 July 2022 2,500 Ordinary shares were issued for a total consideration of £32,475.
On 15 August 2022 33,334 Ordinary shares were issued for a total consideration of £433,009.
On 21 September 2022 1,894 Ordinary shares were issued for a total consideration of £24,603.
On 11 December 2022 1,250 Ordinary shares were issued for a total consideration of £16,238.

 
Page 9