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REGISTERED NUMBER: 09469403 (England and Wales)


















Salon 7 (Cirencester) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






Salon 7 (Cirencester) Limited (Registered number: 09469403)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Salon 7 (Cirencester) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr B A Simpson
Mrs K S Tremblen





REGISTERED OFFICE: Garden Flat
30 Victoria Road
Cirencester
Gloucestershire
GL7 1ES





REGISTERED NUMBER: 09469403 (England and Wales)





ACCOUNTANTS: AMS Accountancy Limited
Delta 606
Welton Road
Delta Office Park
Swindon
Wiltshire
SN5 7XF

Salon 7 (Cirencester) Limited (Registered number: 09469403)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 11,500 23,000
Tangible assets 5 2,425 3,709
13,925 26,709

CURRENT ASSETS
Stocks 6 4,000 10,582
Debtors 7 897 1,278
Cash at bank and in hand 856 5,784
5,753 17,644
CREDITORS
Amounts falling due within one year 8 (81,195 ) (86,561 )
NET CURRENT LIABILITIES (75,442 ) (68,917 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(61,517

)

(42,208

)

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings (61,527 ) (42,218 )
SHAREHOLDERS' FUNDS (61,517 ) (42,208 )

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

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

The directors acknowledge their 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.

Salon 7 (Cirencester) Limited (Registered number: 09469403)

Statement of Financial Position - continued
31 March 2024


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 Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Mr B A Simpson - Director



Mrs K S Tremblen - Director


Salon 7 (Cirencester) Limited (Registered number: 09469403)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Salon 7 (Cirencester) 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

In the opinion of the directors this represents the period over which the goodwill is effective.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
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 statement of financial position date.

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.

Salon 7 (Cirencester) Limited (Registered number: 09469403)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 114,999
AMORTISATION
At 1 April 2023 91,999
Amortisation for year 11,500
At 31 March 2024 103,499
NET BOOK VALUE
At 31 March 2024 11,500
At 31 March 2023 23,000

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 490 34,873 4,329 39,692
Disposals (358 ) - - (358 )
At 31 March 2024 132 34,873 4,329 39,334
DEPRECIATION
At 1 April 2023 412 33,744 1,827 35,983
Charge for year - 618 589 1,207
Eliminated on disposal (281 ) - - (281 )
At 31 March 2024 131 34,362 2,416 36,909
NET BOOK VALUE
At 31 March 2024 1 511 1,913 2,425
At 31 March 2023 78 1,129 2,502 3,709

6. STOCKS
2024 2023
£    £   
Stocks 4,000 10,582

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 897 1,278

Salon 7 (Cirencester) Limited (Registered number: 09469403)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,955 8,185
Taxation and social security 9,289 11,073
Other creditors 69,951 67,303
81,195 86,561

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10