Shear Class Salon Limited |
Registered Number:05963589 |
For the year ended 31 October 2023
England and Wales
Unaudited Financial Statements
For the year ended 31 October 2023
Shear Class Salon Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Shear Class Salon Limited
Statement of Financial Position
2022
2023
Property, plant and equipment |
14,030
15,183
3
14,030
15,183
750
750
4
Trade and other receivables |
19,347
14,946
5
5,106
Cash and cash equivalents |
1,069
16,765
25,203
Trade and other payables: amounts falling due within one year |
(16,280)
(12,600)
6
8,923
4,165
Net current assets
Total assets less current liabilities |
18,195
24,106
Trade and other payables: amounts falling due after more than one |
year |
(20,341)
(21,586)
7
(2,666)
(2,885)
Provisions for liabilities |
(6,057)
Net assets/liabilities
880
100
100
(6,157)
780
(6,057)
880
Shareholders' funds
For the year ended 31 October 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 October 2023
Shear Class Salon Limited
Statement of Financial Position Continued
Mr T M Broughton Director |
These financial statements were approved and authorised for issue by the Board on 24 July 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 October 2023
Shear Class Salon Limited
Notes to the Financial Statements
Statutory Information
Shear Class Salon Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
number 05963589. |
Principal place of business: |
Units 2 & 3, Sherston Old School
High Street
Sherston
Wiltshire
SN16 0LL
Lodge 1 Woodbridge Park
Brinkworth
Chippenham
Wiltshire
SN15 5DG
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting |
Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act |
2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation |
of certain assets. |
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of 10 years. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Property Improvements
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Inventories
Inventories are valued at the lower of cost and estimated selling price less costs to sell.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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For the year ended 31 October 2023
Shear Class Salon Limited
Notes to the Financial Statements Continued
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
2. Intangible fixed assets |
Goodwill
40,000
40,000
40,000
40,000
-
-
3. Property, plant and equipment |
42,080
36,311
5,769
1,323
1,323
-
5,769
37,634
43,403
Provision for depreciation and impairment |
26,897
21,128
5,769
Charge for year
2,476
2,476
-
29,373
23,604
5,769
-
14,030
14,030
-
15,183
15,183
2022
2023
750
750
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For the year ended 31 October 2023
Shear Class Salon Limited
Notes to the Financial Statements Continued
5. Trade and other receivables |
2022
2023
160
4,280
Taxation and social security |
1,679
1,892
13,107
13,175
19,347
14,946
6. Trade and other payables: amounts falling due within one year |
2022
2023
9,161
6,660
741
-
Taxation and social security |
639
7,938
2,059
1,682
12,600
16,280
7. Trade and other payables: amounts falling due after more than one year |
2022
2023
21,586
20,341
8. Guarantees and other financial commitments |
At 31 October 2023 the company had annual commitments under non-cancellable operating leases as set out below: |
2022
2023
Operating leases which expire: |
10,978
11,879
11,879
10,978
9. Average number of persons employed |
During the year the average number of employees was 5 (2022 : 6)
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