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REGISTERED NUMBER: 08841742 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

HCSALON LIMITED

HCSALON LIMITED (REGISTERED NUMBER: 08841742)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HCSALON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Elaine Bayat





REGISTERED OFFICE: Hatfield House Imperial Buildings
Houghton Le Spring
Tyne and Wear
DH4 4DJ





REGISTERED NUMBER: 08841742 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

HCSALON LIMITED (REGISTERED NUMBER: 08841742)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,093 23,368

CURRENT ASSETS
Stocks 8,337 12,601
Debtors 5 96,027 4,385
Cash at bank and in hand 4,245 72,992
108,609 89,978
CREDITORS
Amounts falling due within one year 6 37,844 39,171
NET CURRENT ASSETS 70,765 50,807
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,858

74,175

CAPITAL AND RESERVES
Called up share capital 7 3 3
Retained earnings 88,855 74,172
SHAREHOLDERS' FUNDS 88,858 74,175

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 25 September 2024 and were signed by:





Elaine Bayat - Director


HCSALON LIMITED (REGISTERED NUMBER: 08841742)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

HCSalon 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 derived from the principal activity of the company, which is that of a hair salon, is net of VAT and is recognised when the company becomes entitled to it.

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 - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

HCSALON LIMITED (REGISTERED NUMBER: 08841742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 87,938
Additions 2,140
At 31 January 2024 90,078
DEPRECIATION
At 1 February 2023 64,570
Charge for year 7,415
At 31 January 2024 71,985
NET BOOK VALUE
At 31 January 2024 18,093
At 31 January 2023 23,368

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 96,027 4,385

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,490 2,088
Taxation and social security 22,690 17,805
Other creditors 11,664 19,278
37,844 39,171

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £3 3 3

HCSALON LIMITED (REGISTERED NUMBER: 08841742)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Lily Ann Nadina Fotinou
Balance outstanding at start of year - 11,793
Amounts advanced 260,350 32,212
Amounts repaid (167,195 ) (44,005 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 93,155 -

9. RELATED PARTY DISCLOSURES

During the year the business premises was sublet on market rate terms to a business operated by a family member of the director. The rental charge was £4,000 (2023: £4,000).