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REGISTERED NUMBER: SC274143 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Sesh Hairdressing Limited

Sesh Hairdressing Limited (Registered number: SC274143)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Sesh Hairdressing Limited

Company Information
for the Year Ended 31 October 2024







DIRECTOR: S Hill





SECRETARY: Mrs L Hill





REGISTERED OFFICE: 50-52 Bernard Street
Edinburgh
EH6 6PR





REGISTERED NUMBER: SC274143 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Sesh Hairdressing Limited (Registered number: SC274143)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 423,998 424,265

CURRENT ASSETS
Stocks 5 10,865 10,865
Debtors 6 31,470 40,535
Cash at bank 1 5
42,336 51,405
CREDITORS
Amounts falling due within one year 7 140,561 120,571
NET CURRENT LIABILITIES (98,225 ) (69,166 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

325,773

355,099

CREDITORS
Amounts falling due after more than one year 8 (295,814 ) (316,958 )

PROVISIONS FOR LIABILITIES (1,427 ) (1,494 )
NET ASSETS 28,532 36,647

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 28,531 36,646
SHAREHOLDERS' FUNDS 28,532 36,647

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

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

The director acknowledges his 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 February 2025 and were signed by:



S Hill - Director


Sesh Hairdressing Limited (Registered number: SC274143)

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

1. STATUTORY INFORMATION

Sesh Hairdressing Limited is a private company, limited by shares , registered in Scotland. 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.

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 etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Sesh Hairdressing Limited (Registered number: SC274143)

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

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 November 2023 418,290 108,369 526,659
Additions - 1,119 1,119
At 31 October 2024 418,290 109,488 527,778
DEPRECIATION
At 1 November 2023 - 102,394 102,394
Charge for year - 1,386 1,386
At 31 October 2024 - 103,780 103,780
NET BOOK VALUE
At 31 October 2024 418,290 5,708 423,998
At 31 October 2023 418,290 5,975 424,265

5. STOCKS
31.10.24 31.10.23
£    £   
Stocks 10,865 10,865

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Other debtors - 780
Directors' current accounts 31,029 39,395
Prepayments and accrued income 441 360
31,470 40,535

Sesh Hairdressing Limited (Registered number: SC274143)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 53,091 54,661
Other loans 5,600 5,600
Trade creditors 14,353 10,018
Tax 23,330 9,935
Social security and other taxes 5,848 7,088
VAT 19,924 18,279
Other creditors 14,075 11,539
Accruals and deferred income 4,340 3,451
140,561 120,571

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans - 2-5 years 79,976 113,003
Bank loans more 5 yr by instal 165,104 147,621
Other loans - 2-5 years 10,734 16,334
Accruals and deferred income 40,000 40,000
295,814 316,958

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 165,104 147,621

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.10.24 31.10.23
£    £   
Within one year 1,073 4,292
Between one and five years - 1,073
1,073 5,365

10. SECURED DEBTS

RBS Bank Plc holds a floating charge over the freehold property of the company in respect of a mortgage taken out by the company totalling £275,803. At the year end 31 October 2024 £264,895 was outstanding on the mortgage.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 31.10.23
value: £    £   
80 Ordinary A £0.01 1 1
20 Ordinary B £0.01 - -
1 1

Sesh Hairdressing Limited (Registered number: SC274143)

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

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.10.24 31.10.23
£    £   
S Hill
Balance outstanding at start of year 39,395 32,229
Amounts advanced 83,074 53,538
Amounts repaid (91,440 ) (46,372 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,029 39,395

The directors loans are unsecured and there are no fixed repayment terms. Interest was charged on balances in excess of £10,000 at a rate of 2.25% per annum.

13. RELATED PARTY DISCLOSURES

During the year, total dividends of £72,860 (2023 - £49,280) were paid to the director .