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Registration number: 08359593

Rob Czlapka Salons Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Rob Czlapka Salons Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Rob Czlapka Salons Ltd

Company Information

Director

Mr Rob Czlapka

Registered office

16 Whittle Street
Manchester
M4 1LT

 

Rob Czlapka Salons Ltd

(Registration number: 08359593)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

13,346

15,275

Current assets

 

Stocks

5

12,500

13,000

Debtors

6

7,370

10,555

Cash at bank and in hand

 

14,744

5,048

 

34,614

28,603

Creditors: Amounts falling due within one year

7

(57,620)

(61,210)

Net current liabilities

 

(23,006)

(32,607)

Total assets less current liabilities

 

(9,660)

(17,332)

Creditors: Amounts falling due after more than one year

7

(29,530)

(34,390)

Net liabilities

 

(39,190)

(51,722)

Capital and reserves

 

Called up share capital

8

12,000

12,000

Retained earnings

(51,190)

(63,722)

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:

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 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 director on 21 May 2025
 

.........................................
Mr Rob Czlapka
Director

 

Rob Czlapka Salons Ltd

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

1

General information

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

The address of its registered office is:
16 Whittle Street
Manchester
M4 1LT

These financial statements were authorised for issue by the director on 21 May 2025.

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.

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:

Asset class

Depreciation method and rate

Leasehold improvements

15% reducing balance

Fixtures & fittings

15% reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 8).

 

Rob Czlapka Salons Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

53,675

2,724

56,399

Additions

-

429

429

At 31 May 2024

53,675

3,153

56,828

Depreciation

At 1 June 2023

38,711

2,413

41,124

Charge for the year

2,245

113

2,358

At 31 May 2024

40,956

2,526

43,482

Carrying amount

At 31 May 2024

12,719

627

13,346

At 31 May 2023

14,964

311

15,275

5

Stocks

2024
£

2023
£

Other inventories

12,500

13,000

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

-

1,486

Amounts owed by related parties

10

38

-

Prepayments

 

1,832

1,833

Other debtors

 

5,500

7,236

   

7,370

10,555

7

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

9,137

8,906

Taxation and social security

 

13,977

24,948

Accruals and deferred income

 

302

850

Other creditors

 

34,204

26,506

 

57,620

61,210

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

29,530

34,390

2024
£

2023
£

Due after more than five years

After more than five years by instalments

20,161

25,484

-

-

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £12 each

1,000

12,000

1,000

12,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

29,530

34,390

Current loans and borrowings

2024
£

2023
£

Bank borrowings

9,137

8,906

Bank borrowings

 

Rob Czlapka Salons Ltd

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

Bounceback Loan is denominated in £ with a nominal interest rate of 2.5%, and the final instalment is due on 26 February 2031. The carrying amount at year end is £38,667 (2023 - £43,296).

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)

10

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:

2024
£

2023
£

Remuneration

47,911

36,815

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.