Registration number:
Rob Czlapka Salons Ltd
for the Year Ended 31 May 2024
Rob Czlapka Salons Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Rob Czlapka Salons Ltd
Company Information
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Director |
Mr Rob Czlapka |
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Registered office |
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Rob Czlapka Salons Ltd
(Registration number: 08359593)
Balance Sheet as at 31 May 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
12,000 |
12,000 |
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Retained earnings |
(51,190) |
(63,722) |
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Shareholders' deficit |
(39,190) |
(51,722) |
For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been 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 Profit and Loss Account.
Approved and authorised by the
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Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants relating to the support provided for the Covid-19 pandemic are recognised when there is reasonable assurance that the grant is receivable and are subsequently accounted fro under the accrual model, on a systemic basis over the period in which the related costs are recognised.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Leasehold improvements |
15% reducing balance |
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Fixtures & fittings |
15% reducing balance |
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Equipment |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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Tangible assets |
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Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 June 2023 |
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Additions |
- |
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At 31 May 2024 |
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Depreciation |
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At 1 June 2023 |
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Charge for the year |
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At 31 May 2024 |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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Stocks |
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2024 |
2023 |
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Other inventories |
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Debtors |
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Current |
Note |
2024 |
2023 |
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Trade debtors |
- |
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Amounts owed by related parties |
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- |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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2024 |
2023 |
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Due after more than five years |
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After more than five years by instalments |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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12,000 |
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12,000 |
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Bank borrowings
Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
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The loan was provided to assist with the effects fo the Covid-19 pandemic, received in February 2021. It is repayable over 10 years and interest is charged at 2.5% per annum for the duration of the loan. No capital repayments are due in the first 12 months of the loan and the government is paying the first 12 months of the interest due under this loan as Business Interruption Payment. |
Included in the loans and borrowings are the following amounts due after more than five years:
Borrowings due after five years
Repayable by instalments in more than 5 years £20,161 (2023: £25,484)
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Related party transactions |
Rob Czlapka Salons Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Director's remuneration
The director's remuneration for the year was as follows:
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2024 |
2023 |
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Remuneration |
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Summary of transactions with other related parties
During the year the company operated a loan account with Rob Czlapka Barbers Limited, a company under common control. This loan is interest free and repayable on demand. During the year the company advanced £2,960 (2018; £220) to and received £78,223 (2018: £58,727) from Rob Czlapka Barbers Limited. The company also incurred expenses totalling £68,005 (2018: £58,524) on behalf of Rob Czlapka Barbers Limited as well as Rob Czlapka Barbers Limited incurring costs of £15,910 on behalf of the company. At the balance sheet date the company owed £10,077 (2018: £33,245) to Rob Czlapka Barbers Limited, this amount is included within other debtors.