Thesalon (SW) Ltd 11030795 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is that of running a beauty salon. Digita Accounts Production Advanced 6.30.9574.0 true true 11030795 2022-11-01 2023-10-31 11030795 2023-10-31 11030795 core:CurrentFinancialInstruments 2023-10-31 11030795 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 11030795 core:Non-currentFinancialInstruments 2023-10-31 11030795 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 11030795 bus:SmallEntities 2022-11-01 2023-10-31 11030795 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 11030795 bus:FilletedAccounts 2022-11-01 2023-10-31 11030795 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 11030795 bus:RegisteredOffice 2022-11-01 2023-10-31 11030795 bus:Director2 2022-11-01 2023-10-31 11030795 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 11030795 countries:EnglandWales 2022-11-01 2023-10-31 11030795 2021-11-01 2022-10-31 11030795 2022-10-31 11030795 core:CurrentFinancialInstruments 2022-10-31 11030795 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 11030795 core:Non-currentFinancialInstruments 2022-10-31 11030795 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 11030795

Thesalon (SW) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Thesalon (SW) Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Thesalon (SW) Ltd

(Registration number: 11030795)
Statement of Financial Position as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

19,402

23,334

Cash at bank and in hand

 

101

2,385

 

19,503

25,719

Creditors: Amounts falling due within one year

5

(8,521)

(10,679)

Total assets less current liabilities

 

10,982

15,040

Creditors: Amounts falling due after more than one year

5

(11,196)

(18,036)

Net liabilities

 

(214)

(2,996)

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

(215)

(2,997)

Shareholders' deficit

 

(214)

(2,996)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 31 July 2024
 


Mr S K Haderlein
Director

 

Thesalon (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
Stanhope House
9-10 Fore Street
Holsworthy
Devon
EX22 6DT

Principal activity

The principal activity of the company is that of running a beauty salon.

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Thesalon (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

15,960

-

Other debtors

 

3,442

23,334

 

19,402

23,334

 

Thesalon (SW) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

6,841

6,679

Trade creditors

 

1,080

480

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

3,040

Accruals and deferred income

 

600

480

 

8,521

10,679

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

11,196

18,036

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

11,196

18,036

Current loans and borrowings

2023
£

2022
£

Bank borrowings

6,841

6,679