0 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 6,697 1,399 1,339 2,738 3,959 5,298 xbrli:pure xbrli:shares iso4217:GBP 13889958 2023-03-01 2024-02-29 13889958 2024-02-29 13889958 2023-02-28 13889958 2022-02-02 2023-02-28 13889958 2023-02-28 13889958 2022-02-01 13889958 bus:Director1 2023-03-01 2024-02-29 13889958 core:WithinOneYear 2024-02-29 13889958 core:WithinOneYear 2023-02-28 13889958 core:ShareCapital 2024-02-29 13889958 core:ShareCapital 2023-02-28 13889958 core:RetainedEarningsAccumulatedLosses 2024-02-29 13889958 core:RetainedEarningsAccumulatedLosses 2023-02-28 13889958 core:BetweenOneFiveYears 2023-02-28 13889958 bus:SmallEntities 2023-03-01 2024-02-29 13889958 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13889958 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13889958 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13889958 bus:FullAccounts 2023-03-01 2024-02-29 13889958 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 13889958 core:FurnitureFittingsToolsEquipment 2024-02-29 13889958 core:FurnitureFittingsToolsEquipment 2023-02-28
COMPANY REGISTRATION NUMBER: 13889958
Afterglow Beauty Salon Ltd
Filleted Unaudited Financial Statements
29 February 2024
Afterglow Beauty Salon Ltd
Financial Statements
Year ended 29 February 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Afterglow Beauty Salon Ltd
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
3,959
5,298
Current assets
Debtors
6
3,000
3,000
Cash at bank and in hand
48
275
-------
-------
3,048
3,275
Creditors: amounts falling due within one year
7
21,590
20,975
--------
--------
Net current liabilities
18,542
17,700
--------
--------
Total assets less current liabilities
( 14,583)
( 12,402)
--------
--------
Net liabilities
( 14,583)
( 12,402)
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 14,585)
( 12,404)
--------
--------
Shareholders deficit
( 14,583)
( 12,402)
--------
--------
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 comprehensive income has not been delivered.
For the year ending 29 February 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 .
Afterglow Beauty Salon Ltd
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
Miss C Radzik
Director
Company registration number: 13889958
Afterglow Beauty Salon Ltd
Notes to the Financial Statements
Year ended 29 February 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 Tutt Hill House, Maidstone Road, Ashford, TN26 1AW.
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.
Going concern
The directors have considered the basis of the preparation of the accounts and are satisfied that the accounts should be prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2.
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2023 and 29 February 2024
6,697
6,697
-------
-------
Depreciation
At 1 March 2023
1,399
1,399
Charge for the year
1,339
1,339
-------
-------
At 29 February 2024
2,738
2,738
-------
-------
Carrying amount
At 29 February 2024
3,959
3,959
-------
-------
At 28 February 2023
5,298
5,298
-------
-------
6. Debtors
2024
2023
£
£
Other debtors
3,000
3,000
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
21,590
20,975
--------
--------
8. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Later than 1 year and not later than 5 years
84,000
----
--------
9. Directors' advances, credits and guarantees
At the period end, the company owed £16,705 (2023: £15,875) to the directors.