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REGISTERED NUMBER: 12852734 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Saloncardiff(Tg) Hairdressing Ltd

Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Saloncardiff(Tg) Hairdressing Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: L Williams





REGISTERED OFFICE: Toni&Guy Unit2 Churchill House
17 Churchill Way
Cardiff
CF10 2HH





REGISTERED NUMBER: 12852734 (England and Wales)





ACCOUNTANTS: Styles & Associates Limited
Berkeley House
Amery Street
Alton
Hampshire
GU34 1HN

Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 53,454 59,066
Tangible assets 5 10,564 882
64,018 59,948

CURRENT ASSETS
Stocks 5,100 3,686
Debtors 6 8,189 8,014
Cash at bank and in hand 89,662 90,919
102,951 102,619
CREDITORS
Amounts falling due within one year 7 94,618 84,152
NET CURRENT ASSETS 8,333 18,467
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,351

78,415

CREDITORS
Amounts falling due after more than one
year

8

(42,525

)

(51,702

)

PROVISIONS FOR LIABILITIES (2,007 ) (221 )
NET ASSETS 27,819 26,492

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings 27,818 26,491
SHAREHOLDERS' FUNDS 27,819 26,492

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2025 and were signed by:





L Williams - Director


Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)

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

1. STATUTORY INFORMATION

Saloncardiff(Tg) Hairdressing Ltd 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 (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise Costs are being amortised evenly over their estimated useful life of five years.

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 - 20% on reducing balance
Computer equipment - 33% 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.


Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)

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

2. ACCOUNTING POLICIES - continued
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.

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 12 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
Goodwill Costs Totals
£    £    £   
COST
At 1 September 2023 75,000 10,350 85,350
Additions - 6,740 6,740
At 31 August 2024 75,000 17,090 92,090
AMORTISATION
At 1 September 2023 20,000 6,284 26,284
Amortisation for year 7,500 4,852 12,352
At 31 August 2024 27,500 11,136 38,636
NET BOOK VALUE
At 31 August 2024 47,500 5,954 53,454
At 31 August 2023 55,000 4,066 59,066

Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 1,026 227 1,253
Additions 9,920 441 10,361
At 31 August 2024 10,946 668 11,614
DEPRECIATION
At 1 September 2023 315 56 371
Charge for year 495 184 679
At 31 August 2024 810 240 1,050
NET BOOK VALUE
At 31 August 2024 10,136 428 10,564
At 31 August 2023 711 171 882

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 8,189 8,014

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 8,716 8,831
Trade creditors (3,004 ) (18,756 )
Taxation and social security 17,733 23,480
Other creditors 71,173 70,597
94,618 84,152

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 42,525 51,702

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,523 20,831

Saloncardiff(Tg) Hairdressing Ltd (Registered number: 12852734)

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

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 26,327 21,499
Between one and five years 85,250 86,750
111,577 108,249

10. SECURED DEBTS

There is a fixed and floating charge on the property and undertaking of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
1 Ordinary £1 1 1

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end, the company owed the director £13,833 (2023: £20,521).

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is L Williams.