0 false false false false false false false false false false true false false false false true true No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07879616 2023-05-01 2024-04-30 07879616 2024-04-30 07879616 2023-04-30 07879616 2022-05-01 2023-04-30 07879616 2023-04-30 07879616 2022-04-30 07879616 bus:Director1 2023-05-01 2024-04-30 07879616 core:WithinOneYear 2024-04-30 07879616 core:WithinOneYear 2023-04-30 07879616 core:AfterOneYear 2024-04-30 07879616 core:AfterOneYear 2023-04-30 07879616 core:ShareCapital 2024-04-30 07879616 core:ShareCapital 2023-04-30 07879616 core:RetainedEarningsAccumulatedLosses 2024-04-30 07879616 core:RetainedEarningsAccumulatedLosses 2023-04-30 07879616 bus:Director1 2023-04-30 07879616 bus:Director1 2022-04-30 07879616 bus:SmallEntities 2023-05-01 2024-04-30 07879616 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07879616 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07879616 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07879616 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 07879616
Palm Hair & Beauty Salon Ltd
Filleted Unaudited Financial Statements
30 April 2024
Palm Hair & Beauty Salon Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Creditors: amounts falling due within one year
4
732
516
----
----
Net current liabilities
732
516
----
----
Total assets less current liabilities
( 732)
( 516)
Creditors: amounts falling due after more than one year
5
19,400
19,400
--------
--------
Net liabilities
( 20,132)
( 19,916)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 20,232)
( 20,016)
--------
--------
Shareholders deficit
( 20,132)
( 19,916)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mr D Beharrie
Director
Company registration number: 07879616
The trading business was disposed off with no value on 01 May 2018.
Palm Hair & Beauty Salon Ltd
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 98 Rushford Street, Longsight, Manchester, M12 4NT, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102:
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
732
516
----
----
5. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
19,400
19,400
--------
--------
6. Other financial commitments
The business has ceased trading since April 2017 due to poor trading performance. The company may be closed down soon.
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward and outstanding
2024
2023
£
£
Mr D Beharrie
( 19,400)
( 19,400)
--------
--------
8. Related party transactions
The company was under the joint control of Mr D Beharrie and Mr C Sallaby throughout the current and previous year. Both directors have 50 shares each. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller entities