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REGISTERED NUMBER: 07839944 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Salon Driffield Limited

The Salon Driffield Limited (Registered number: 07839944)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


The Salon Driffield Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mrs. M Daniels
Ms. S McKenzie





Registered office: 6 George Street
Driffield
East Yorkshire
YO25 6RA





Registered number: 07839944 (England and Wales)





Accountants: Ullyott Limited
6 George Street
Driffield
East Yorkshire
YO25 6RA

The Salon Driffield Limited (Registered number: 07839944)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 121,263 121,584
121,263 121,584

CURRENT ASSETS
Stocks 6 850 762
Debtors 7 536 468
Cash at bank and in hand 5,215 6,090
6,601 7,320
CREDITORS
Amounts falling due within one year 8 11,871 10,818
NET CURRENT LIABILITIES (5,270 ) (3,498 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,993

118,086

CREDITORS
Amounts falling due after more than one
year

9

74,573

80,834
NET ASSETS 41,420 37,252

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 41,320 37,152
SHAREHOLDERS' FUNDS 41,420 37,252

The Salon Driffield Limited (Registered number: 07839944)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Mrs. M Daniels - Director


The Salon Driffield Limited (Registered number: 07839944)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

The Salon Driffield 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten 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.
Fixtures and fittings - 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 Statement of Income and Retained Earnings, 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.


The Salon Driffield Limited (Registered number: 07839944)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 18,000
AMORTISATION
At 1 April 2023
and 31 March 2024 18,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

The Salon Driffield Limited (Registered number: 07839944)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 120,750 4,230 124,980
DEPRECIATION
At 1 April 2023 - 3,396 3,396
Charge for year - 321 321
At 31 March 2024 - 3,717 3,717
NET BOOK VALUE
At 31 March 2024 120,750 513 121,263
At 31 March 2023 120,750 834 121,584

6. STOCKS
2024 2023
£    £   
Stocks 850 762

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 536 468

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,236 6,212
Corporation tax 2,930 1,267
Social security and other taxes 95 32
Other creditors - 338
Directors' current accounts 704 889
Accrued expenses 1,906 2,080
11,871 10,818

The Salon Driffield Limited (Registered number: 07839944)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 14,573 20,834
Directors' loan accounts 60,000 60,000
74,573 80,834

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 20,809 27,046

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100