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Registered number: 13033315
Essential Salon Supplies Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
JMC Accountancy Ltd
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Company Information
Director Mrs Samantha Law
Company Number 13033315
Registered Office 3a Westfield Road
Manea
March
PE15 0LN
Accountants JMC Accountancy Ltd
L19 South Fens Bus Centre
Fenton Way
Chatteris
Cambridgeshire
PE16 6TT
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Page 2
Balance Sheet
Registered number: 13033315
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,570 4,445
Tangible Assets 5 23,942 22,017
27,512 26,462
CURRENT ASSETS
Debtors 6 10,486 6,716
Cash at bank and in hand 13,223 4,639
23,709 11,355
Creditors: Amounts Falling Due Within One Year 7 (77,442 ) (61,260 )
NET CURRENT ASSETS (LIABILITIES) (53,733 ) (49,905 )
TOTAL ASSETS LESS CURRENT LIABILITIES (26,221 ) (23,443 )
NET LIABILITIES (26,221 ) (23,443 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (26,222 ) (23,444 )
SHAREHOLDERS' FUNDS (26,221) (23,443)
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For the year ending 30 November 2023 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 her 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
Mrs Samantha Law
Director
23/08/2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Essential Salon Supplies Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13033315 . The registered office is 3a Westfield Road, Manea, March, PE15 0LN.
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 - Other Intangible
Other intangible assets are are stated at cost or valuation less amortisation. Amortisation is provided on intangible fixed assets at 25% reducing balance method.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 25% Reducing Balance Method
Motor Vehicles 25% Reducing Balance Method
Fixtures & Fittings 25% Reducing Balance Method
Computer Equipment 25% Reducing Balance Method
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Intangible Assets
Other
£
Cost or Valuation
As at 1 December 2022 4,754
Additions 291
As at 30 November 2023 5,045
Amortisation
As at 1 December 2022 309
Provided during the period 1,166
As at 30 November 2023 1,475
Net Book Value
As at 30 November 2023 3,570
As at 1 December 2022 4,445
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 December 2022 100 6,500 19,157 7,927 33,684
Additions 894 - 6,796 698 8,388
As at 30 November 2023 994 6,500 25,953 8,625 42,072
Depreciation
As at 1 December 2022 44 2,844 6,737 2,042 11,667
Provided during the period 144 914 3,861 1,544 6,463
As at 30 November 2023 188 3,758 10,598 3,586 18,130
Net Book Value
As at 30 November 2023 806 2,742 15,355 5,039 23,942
As at 1 December 2022 56 3,656 12,420 5,885 22,017
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 7,261 6,716
Other debtors 3,225 -
10,486 6,716
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 51,398 44,826
Bank loans and overdrafts 178 -
VAT 2,059 297
Net wages 1,000 1,192
Director's loan account 22,807 14,945
77,442 61,260
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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