BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is that of hairdressing and other beauty treatments. 30 September 2024 NI664921 2023-10-31 NI664921 2022-10-31 NI664921 2021-10-31 NI664921 2022-11-01 2023-10-31 NI664921 2021-11-01 2022-10-31 NI664921 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI664921 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI664921 uk-bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI664921 uk-bus:FullAccounts 2022-11-01 2023-10-31 NI664921 uk-bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 NI664921 uk-core:ShareCapital 2023-10-31 NI664921 uk-core:ShareCapital 2022-10-31 NI664921 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI664921 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI664921 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI664921 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI664921 uk-bus:FRS102 2022-11-01 2023-10-31 NI664921 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI664921 uk-core:WithinOneYear 2023-10-31 NI664921 uk-core:WithinOneYear 2022-10-31 NI664921 uk-core:WithinOneYear 2023-10-31 NI664921 uk-core:WithinOneYear 2022-10-31 NI664921 uk-core:BetweenOneTwoYears 2023-10-31 NI664921 uk-core:BetweenOneTwoYears 2022-10-31 NI664921 uk-core:BetweenTwoFiveYears 2023-10-31 NI664921 uk-core:BetweenTwoFiveYears 2022-10-31 NI664921 uk-core:EmployeeBenefits 2022-10-31 NI664921 uk-core:EmployeeBenefits 2022-11-01 2023-10-31 NI664921 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-10-31 NI664921 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-10-31 NI664921 uk-core:OtherDeferredTax 2023-10-31 NI664921 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-10-31 NI664921 uk-core:EmployeeBenefits 2023-10-31 NI664921 2022-11-01 2023-10-31 NI664921 uk-bus:Director1 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI664921
 
 
The Sanctuary NI Group Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2023



The Sanctuary NI Group Limited

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of The Sanctuary NI Group Limited
for the financial year ended 31 October 2023
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 October 2023 as set out on pages  to 12 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of The Sanctuary NI Group Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 October 2023 your duty to ensure that The Sanctuary NI Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Sanctuary NI Group Limited. You consider that The Sanctuary NI Group Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of The Sanctuary NI Group Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
30 September 2024



The Sanctuary NI Group Limited
Company Registration Number: NI664921
STATEMENT OF FINANCIAL POSITION
as at 31 October 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 9,774 16,785
───────── ─────────
 
Current Assets
Receivables 5 - 4,181
Cash and cash equivalents 309 1,263
───────── ─────────
309 5,444
───────── ─────────
Payables: amounts falling due within one year 6 (152,876) (96,708)
───────── ─────────
Net Current Liabilities (152,567) (91,264)
───────── ─────────
Total Assets less Current Liabilities (142,793) (74,479)
 
Payables:
amounts falling due after more than one year 7 (13,123) (21,208)
 
Provisions for liabilities 9 28,894 17,451
───────── ─────────
Net Liabilities (127,022) (78,236)
═════════ ═════════
 
Equity
Called up share capital 100 100
Retained earnings (127,122) (78,336)
───────── ─────────
Equity attributable to owners of the company (127,022) (78,236)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 30 September 2024
           
           
________________________________          
Angela Boyle          
Director          
           



The Sanctuary NI Group Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
The Sanctuary NI Group Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI664921. The registered office of the company is 12 Railway Street, Lisburn, Co. Antrim, BT28 1XG, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is that of hairdressing and other beauty treatments. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 18.
 
  2023 2022
  Number Number
 
Director 1 1
Other 17 13
  ───────── ─────────
  18 14
  ═════════ ═════════
       
4. Property, plant and equipment
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost or Valuation
At 1 November 2022 38,569 38,569
Additions 878 878
  ───────── ─────────
At 31 October 2023 39,447 39,447
  ───────── ─────────
Depreciation
At 1 November 2022 21,784 21,784
Charge for the financial year 7,889 7,889
  ───────── ─────────
At 31 October 2023 29,673 29,673
  ───────── ─────────
Carrying amount
At 31 October 2023 9,774 9,774
  ═════════ ═════════
At 31 October 2022 16,785 16,785
  ═════════ ═════════
       
5. Receivables 2023 2022
  £ £
 
Amounts owed by connected parties (Note 11) - 4,181
  ═════════ ═════════
       
6. Payables 2023 2022
Amounts falling due within one year £ £
 
Bank Loan 8,085 7,886
Trade payables - 4,500
Amounts owed to connected parties (Note 11) 1,188 -
Taxation  (Note 8) 60,564 41,039
Director's current account 81,039 41,283
Accruals 2,000 2,000
  ───────── ─────────
  152,876 96,708
  ═════════ ═════════
       
7. Payables 2023 2022
Amounts falling due after more than one year £ £
 
Bounceback Loan 13,123 21,208
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 6) 8,085 7,886
Repayable between one and two years 8,079 8,761
Repayable between two and five years 5,044 12,447
  ───────── ─────────
  21,208 29,094
  ═════════ ═════════
 
       
8. Taxation 2023 2022
  £ £
 
Payables:
VAT 47,965 31,855
PAYE / NI 12,599 9,184
  ───────── ─────────
  60,564 41,039
  ═════════ ═════════
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2023 2022
  £ £ £ £
 
At financial year start 3,189 (20,640) (17,451) (5,814)
Charged to profit and loss (1,332) (10,111) (11,443) (11,637)
  ───────── ───────── ───────── ─────────
At financial year end 1,857 (30,751) (28,894) (17,451)
  ═════════ ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
           
11. Related party transactions
  Balance Movement Balance Maximum
  2023 in year 2022 in year
  £ £ £ £
 
Rosnashane Holdings Ltd - (4,181) 4,181 6,611
  ───────── ───────── ───────── ═════════
 
The following amounts are due to other connected parties:
      2023 2022
      £ £
 
Rosnashane Holdings Ltd     1,188 -
      ═════════ ═════════
 
Net balances with other connected parties:
      2023 2022
      £ £
 
Rosnashane Holdings Ltd     (1,188) 4,181
      ═════════ ═════════
 
Angela Boyle is a director in The Sanctuary NI Group Limited, she is also a director in Rosnashane Holdings Ltd. As at 01 November 2022 Rosnashane Holdings Ltd owed £4,181 to The Sanctuary NI Group Limited. During the year net transactions between the two companies totalled £5,369. As at 31st October 2023  The Sanctuary NI Group Limited owed Rosnashane Holdings Ltd £1,188.
   
12. Events After the End of the Reporting Period
 
As a result of the continued global Covid 19 pandemic, which is having a significant adverse effect on the world economy, the company's business may continue to potentially suffer.