Acorah Software Products - Accounts Production 15.0.600 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 6586752 Mr OLUTAYO KAIYEWU iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 6586752 2023-05-31 6586752 2024-05-31 6586752 2023-06-01 2024-05-31 6586752 frs-core:CurrentFinancialInstruments 2024-05-31 6586752 frs-core:Non-currentFinancialInstruments 2024-05-31 6586752 frs-core:FurnitureFittings 2024-05-31 6586752 frs-core:FurnitureFittings 2023-06-01 2024-05-31 6586752 frs-core:FurnitureFittings 2023-05-31 6586752 frs-core:NetGoodwill 2024-05-31 6586752 frs-core:NetGoodwill 2023-06-01 2024-05-31 6586752 frs-core:NetGoodwill 2023-05-31 6586752 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-05-31 6586752 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-06-01 2024-05-31 6586752 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-31 6586752 frs-core:PlantMachinery 2024-05-31 6586752 frs-core:PlantMachinery 2023-06-01 2024-05-31 6586752 frs-core:PlantMachinery 2023-05-31 6586752 frs-core:ShareCapital 2024-05-31 6586752 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 6586752 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 6586752 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 6586752 frs-bus:SmallEntities 2023-06-01 2024-05-31 6586752 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 6586752 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 6586752 1 2023-06-01 2024-05-31 6586752 frs-bus:Director1 2023-06-01 2024-05-31 6586752 frs-countries:EnglandWales 2023-06-01 2024-05-31 6586752 2022-05-31 6586752 2023-05-31 6586752 2022-06-01 2023-05-31 6586752 frs-core:CurrentFinancialInstruments 2023-05-31 6586752 frs-core:Non-currentFinancialInstruments 2023-05-31 6586752 frs-core:ShareCapital 2023-05-31 6586752 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 6586752
RISE UNISEX SALON LTD
Unaudited Financial Statements
For The Year Ended 31 May 2024
Prima and Company
222a Camberwell Road
London
SE5 0ED
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 6586752
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 132 474
132 474
CURRENT ASSETS
Debtors 6 1,200 1,200
Cash at bank and in hand 1,030 1,247
2,230 2,447
Creditors: Amounts Falling Due Within One Year 7 (674 ) (1,077 )
NET CURRENT ASSETS (LIABILITIES) 1,556 1,370
TOTAL ASSETS LESS CURRENT LIABILITIES 1,688 1,844
Creditors: Amounts Falling Due After More Than One Year 8 (58,972 ) (61,188 )
NET LIABILITIES (57,284 ) (59,344 )
CAPITAL AND RESERVES
Called up share capital 9 10 10
Profit and Loss Account (57,294 ) (59,354 )
SHAREHOLDERS' FUNDS (57,284) (59,344)
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr OLUTAYO KAIYEWU
Director
12/08/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
RISE UNISEX SALON LTD is a private company, limited by shares, incorporated in England & Wales, registered number 6586752 . The registered office is 3, WORCESTER AVENUE, LONDON, N17 0TU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit And Loss Account over its estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% Straight line
Plant & Machinery 25% Straight line
Fixtures & Fittings 25% Straight line
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 50,000
As at 31 May 2024 50,000
Amortisation
As at 1 June 2023 50,000
As at 31 May 2024 50,000
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 June 2023 33,500 18,145 42,704 94,349
As at 31 May 2024 33,500 18,145 42,704 94,349
Depreciation
As at 1 June 2023 33,499 18,141 42,235 93,875
Provided during the period - - 342 342
As at 31 May 2024 33,499 18,141 42,577 94,217
Net Book Value
As at 31 May 2024 1 4 127 132
As at 1 June 2023 1 4 469 474
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 1,200 1,200
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
Other taxes and social security 24 266
Other creditors 650 810
674 1,077
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 9,764 15,540
Directors loan account 49,208 45,648
58,972 61,188
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 4
Page 5
10. Dividends
11. Ultimate Controlling Party
The company's ultimate controlling party is Olutayo Kaiyewu by virtue of his ownership of 100% of the issued share capital in the company.
Page 5