Registered number
05569998
Salon Sleek Limited
Filleted Accounts
31 March 2024
Salon Sleek Limited
Registered number: 05569998
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 22,296 24,774
Current assets
Stocks 688 770
Debtors 4 1,945 199
Cash at bank and in hand 33,850 33,707
36,483 34,676
Creditors: amounts falling due within one year 5 (31,940) (31,578)
Net current assets 4,543 3,098
Net assets 26,839 27,872
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 25,839 26,872
Shareholders' funds 26,839 27,872
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ajaykumar Harilal Maru
Director
Approved by the board on 27 December 2024
Salon Sleek Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 10% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 1,888 115,350 117,238
At 31 March 2024 1,888 115,350 117,238
Depreciation
At 1 April 2023 1,888 90,576 92,464
Charge for the year - 2,478 2,478
At 31 March 2024 1,888 93,054 94,942
Net book value
At 31 March 2024 - 22,296 22,296
At 31 March 2023 - 24,774 24,774
4 Debtors 2024 2023
£ £
Other debtors 1,945 199
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 24,992 24,283
Director's account 19 (3,935)
Other creditors 6,929 11,230
31,940 31,578
6 Other information
Salon Sleek Limited is a private company limited by shares and incorporated in England. Its registered office is:
Laxmi House
2-b Draycott Avenue
Kenton,Harrow
Middlesex
HA3 0BU
Salon Sleek Limited 05569998 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts July 2024 Mr Ajaykumar Harilal Maru No description of principal activity 05569998 2022-04-01 2023-03-31 05569998 core:WithinOneYear 2023-03-31 05569998 core:ShareCapital 2023-03-31 05569998 core:RetainedEarningsAccumulatedLosses 2023-03-31 05569998 2023-04-01 2024-03-31 05569998 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05569998 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05569998 bus:Director40 2023-04-01 2024-03-31 05569998 1 2023-04-01 2024-03-31 05569998 2 2023-04-01 2024-03-31 05569998 core:LandBuildings 2023-04-01 2024-03-31 05569998 core:PlantMachinery 2023-04-01 2024-03-31 05569998 countries:England 2023-04-01 2024-03-31 05569998 bus:FRS102 2023-04-01 2024-03-31 05569998 bus:FilletedAccounts 2023-04-01 2024-03-31 05569998 2024-03-31 05569998 core:WithinOneYear 2024-03-31 05569998 core:ShareCapital 2024-03-31 05569998 core:RetainedEarningsAccumulatedLosses 2024-03-31 05569998 core:LandBuildings 2024-03-31 05569998 core:PlantMachinery 2024-03-31 05569998 2023-03-31 05569998 core:LandBuildings 2023-03-31 05569998 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure