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Registered number: 14751558
Siger Salons Limited
Financial Statements
For the Period 1 June 2023 to 31 March 2024
Hill Wooldridge Accountants Ltd
Chartered Certified Accountants
55 Crown Street
Brentwood
Essex
CM14 4BD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14751558
31 March 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 20,000 -
Tangible Assets 5 17,884 -
37,884 -
CURRENT ASSETS
Stocks 6 535 -
Debtors 7 10,000 -
Cash at bank and in hand 24,190 100
34,725 100
Creditors: Amounts Falling Due Within One Year 8 (44,984 ) -
NET CURRENT ASSETS (LIABILITIES) (10,259 ) 100
TOTAL ASSETS LESS CURRENT LIABILITIES 27,625 100
NET ASSETS 27,625 100
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 27,525 -
SHAREHOLDERS' FUNDS 27,625 100
Page 1
Page 2
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Hogg
Director
17th December 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Siger Salons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14751558 . The registered office is 55 Crown Street, Brentwood, Essex, CM14 4BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 1/26th of cost
Motor Vehicles 25% of WDV
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 8 (2023: NIL)
8 -
4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 -
Additions 20,000
As at 31 March 2024 20,000
Net Book Value
As at 31 March 2024 20,000
As at 1 June 2023 -
5. Tangible Assets
Land & Property
Leasehold
£
Cost
As at 1 June 2023 -
Additions 20,222
As at 31 March 2024 20,222
Depreciation
As at 1 June 2023 -
Provided during the period 2,338
As at 31 March 2024 2,338
Net Book Value
As at 31 March 2024 17,884
As at 1 June 2023 -
Page 4
Page 5
6. Stocks
31 March 2024 31 May 2023
£ £
Finished goods 535 -
7. Debtors
31 March 2024 31 May 2023
£ £
Due within one year
Other debtors 10,000 -
8. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 May 2023
£ £
Other creditors 30,164 -
Taxation and social security 14,820 -
44,984 -
9. Share Capital
31 March 2024 31 May 2023
£ £
Allotted, Called up and fully paid 100 100
Page 5