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Logo On Report
Registered Number: 11766455
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 January 2024

for

THE ELITE WAX GROUP SHEFFIELD LTD

Director Sarah Ellender
Registered Number 11766455
Registered Office 166 SHARROW LANE
SHEFFIELD
S11 8AR
Accountants Holdsworth Accountants Ltd
Omega Court
350 Cemetery Road
Sheffield
S11 8FT
1
  2024   2023
    £ £   £ £
Fixed assets   11,255      13,960 
Current assets 72,713      59,513   
Creditors: amount falling due within one year (29,601)     (18,154)  
Net current assets   43,112      41,359 
Total assets less current liabilities   54,367      55,319 
Creditors: amount falling due after more than one year   (11,667)     (11,555)
Net assets   42,700      43,764 
 

         
Capital and reserves   42,700      43,764 
 
NOTES TO THE ACCOUNTS

General Information
THE ELITE WAX GROUP SHEFFIELD LTD is a private company, limited by shares, registered in England and Wales, registration number 11766455, registration address 166 SHARROW LANE, SHEFFIELD, S11 8AR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Franchise Fees
Franchise Fees is stated at cost less amortization. Amortization is calculated on a straight line basis over the estimated expected useful economic life of the Franchise Fees of 5 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Equipment 20% Reducing Balance
2.

Intangible fixed assets

Cost Franchise Fees - 5 years straight line   Total
  £   £
At 01 February 2023 20,833    20,833 
Additions  
Disposals  
At 31 January 2024 20,833    20,833 
Amortisation
At 01 February 2023 12,498    12,498 
Charge for year 4,166    4,166 
On disposals  
At 31 January 2024 16,664    16,664 
Net book values
At 31 January 2024 4,169    4,169 
At 31 January 2023 8,335    8,335 


3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Equipment   Total
  £   £   £
At 01 February 2023 6,031    2,250    8,281 
Additions 682    2,551    3,233 
Disposals    
At 31 January 2024 6,713    4,801    11,514 
Depreciation
At 01 February 2023 2,009    647    2,656 
Charge for year 941    831    1,772 
On disposals    
At 31 January 2024 2,950    1,478    4,428 
Net book values
Closing balance as at 31 January 2024 3,763    3,323    7,086 
Opening balance as at 01 February 2023 4,022    1,603    5,625 


4.

Average number of employees

Average number of employees during the year was 3 (2023 : 3).


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 26 April 2024 and were signed by:


--------------------------------
Sarah Ellender
Director
2