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Registration number: 13984354

Salon Concepts Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Salon Concepts Holdings Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Salon Concepts Holdings Limited

(Registration number: 13984354)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

1,267,525

1,267,525

Current assets

 

Debtors

5

100

100

Creditors: Amounts falling due within one year

6

(133,090)

(94,962)

Net current liabilities

 

(132,990)

(94,862)

Total assets less current liabilities

 

1,134,535

1,172,663

Creditors: Amounts falling due after more than one year

6

(423,388)

(541,973)

Net assets

 

711,147

630,690

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

711,047

630,590

Shareholders' funds

 

711,147

630,690

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 28 April 2025
 


Mr A MacLucas
Director

 

Salon Concepts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Tallford House
38 Walliscote Road
Weston-super-Mare
Somerset
BS23 1LP

Principal activity

The principal activity of the company is that of a holding company.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group..

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Impairment

 

Salon Concepts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

 

Salon Concepts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Derivative financial instruments and hedging

Derivatives
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
 Hedging
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investments

2024
£

2023
£

Investments in subsidiaries

1,267,525

1,267,525

 

Salon Concepts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

4

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 August 2023

1,267,525

Provision

Carrying amount

At 31 July 2024

1,267,525

At 31 July 2023

1,267,525

5

Debtors

2024
£

2023
£

Other debtors

100

100

100

100

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

10,062

8,478

Accruals and deferred income

 

1,662

1,200

Other creditors

 

121,366

85,284

 

133,090

94,962

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other creditors

423,388

541,973

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Salon Concepts Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

8

Related party transactions

Transactions with the director

2024

At 1 August 2023
£

At 31 July 2024
£

Directors loan

100

100

     
   

 

2023

At 17 March 2022
£

Advances to director
£

At 31 July 2023
£

Directors loan

-

100

100