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REGISTERED NUMBER: 10773056 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

SALON LA (WREXHAM) LIMITED

SALON LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SALON LA (WREXHAM) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTOR: L C Austin



REGISTERED OFFICE: 10 Pen Y Bryn
Wrexham
Wrexham
LL13 7HY



REGISTERED NUMBER: 10773056 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Santander UK plc
Bridle Road
Bootle
L30 4GB

SALON LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)

BALANCE SHEET
31ST MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,596 -

CURRENT ASSETS
Stocks 5 5,000 5,000
Debtors 6 3,725 7,040
Cash at bank and in hand 1,446 1,999
10,171 14,039
CREDITORS
Amounts falling due within one year 7 25,523 19,337
NET CURRENT LIABILITIES (15,352 ) (5,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,756

)

(5,298

)

CREDITORS
Amounts falling due after more than one
year

8

14,467

17,149
NET LIABILITIES (19,223 ) (22,447 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (19,323 ) (22,547 )
SHAREHOLDERS' FUNDS (19,223 ) (22,447 )

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

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

The director acknowledges her 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 LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)

BALANCE SHEET - continued
31ST MAY 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 director and authorised for issue on 17th October 2024 and were signed by:





L C Austin - Director


SALON LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Salon LA (Wrexham) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
Additions 11,303
At 31st May 2024 11,303
DEPRECIATION
Charge for year 707
At 31st May 2024 707
NET BOOK VALUE
At 31st May 2024 10,596

5. STOCKS
31.5.24 31.5.23
£    £   
Stocks 5,000 5,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Directors' current accounts - 1,195
Tax - 1,364
Deferred tax asset 3,225 3,981
Prepayments 500 500
3,725 7,040

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 4,915 2,617
Trade creditors 1,990 1,373
Social security and other taxes 1,161 882
VAT 9,141 12,929
Other creditors 107 -
Directors' current accounts 6,326 -
Accrued expenses 1,883 1,536
25,523 19,337

SALON LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 1-2 years 2,751 2,617
Bank loans - 2-5 years 8,676 8,253
Bank loans - over 5 years 3,040 6,279
14,467 17,149

Amounts falling due in more than five years:

Repayable by instalments
Bank loans - over 5 years 3,040 6,279

9. DEFERRED TAX
£   
Balance at 1st June 2023 (3,981 )
Changes in tax allowance 2,013
Changes in tax losses (1,257 )
Balance at 31st May 2024 (3,225 )

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary £1 100 100

11. CAPITAL COMMITMENTS
31.5.24 31.5.23
£    £   
Contracted but not provided for in the
financial statements - -

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

31.5.24 31.5.23
£    £   
L C Austin
Balance outstanding at start of year 1,195 14,286
Amounts advanced - 29,078
Amounts repaid (1,195 ) (42,169 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,195

SALON LA (WREXHAM) LIMITED (REGISTERED NUMBER: 10773056)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

13. ULTIMATE CONTROLLING PARTY

The controlling party is L C Austin.