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LEO BANCROFT SALONS LIMITED

Registered Number
08089275
(England and Wales)

Unaudited Financial Statements for the Period ended
27 September 2023

LEO BANCROFT SALONS LIMITED
Company Information
for the period from 30 September 2022 to 27 September 2023

Directors

BANCROFT, Kirstie Emma Marie-Louise
BANCROFT, Leo John

Company Secretary

BANCROFT, Kirstie Emma Marie-Louise

Registered Address

116 Oatlands Drive
Weybridge
KT13 9HL

Registered Number

08089275 (England and Wales)
LEO BANCROFT SALONS LIMITED
Balance Sheet as at
27 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets332,68234,982
Investments(33,790)(33,494)
(1,108)1,488
Current assets
Stocks429,25317,833
Debtors5332,205316,160
Cash at bank and on hand237,948228,185
599,406562,178
Creditors amounts falling due within one year6(427,872)(331,745)
Net current assets (liabilities)171,534230,433
Total assets less current liabilities170,426231,921
Net assets170,426231,921
Capital and reserves
Called up share capital22
Profit and loss account170,424231,919
Shareholders' funds170,426231,921
The financial statements were approved and authorised for issue by the Board of Directors on 13 January 2025, and are signed on its behalf by:
BANCROFT, Leo John
Director
Registered Company No. 08089275
LEO BANCROFT SALONS LIMITED
Notes to the Financial Statements
for the period ended 27 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered office address is 116 Oatlands Drive, Weybridge, Surrey, KT13 9HL.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of discounts and VAT.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost, less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.
2.Average number of employees

20232022
Average number of employees during the year3333
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 30 September 2222,13854,08720,24696,471
Additions1,2003,0084,6168,824
Disposals(1,128)--(1,128)
At 27 September 2322,21057,09524,862104,167
Depreciation and impairment
At 30 September 2216,84033,21811,43161,489
Charge for year1,5745,9913,35810,923
Revaluation surplus927--927
Other adjustments(1,851)-(3)(1,854)
At 27 September 2317,49039,20914,78671,485
Net book value
At 27 September 234,72017,88610,07632,682
At 29 September 225,29820,8698,81534,982
4.Stocks

2023

2022

££
Other stocks29,25317,833
Total29,25317,833
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables28,19410,232
Other debtors304,011305,083
Prepayments and accrued income-845
Total332,205316,160
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables130,68066,882
Bank borrowings and overdrafts-3,567
Taxation and social security115,096136,417
Other creditors104,793120,379
Accrued liabilities and deferred income77,3034,500
Total427,872331,745
7.Related party transactions
During the year the company paid rent amounting to £48,000 (2022 - £48,000) to Education In Hair Ltd which shares the ultimate controlling party of Leo Bancroft Salons Limited.