2023-10-012024-09-302024-09-30false14354481CHANGE SALON 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CHANGE SALON LTD

Registered Number
14354481
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

CHANGE SALON LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

CHURCHILL, Laura
TWIGG, Faye

Registered Address

261 Glossop Road
Sheffield
S10 2GZ

Registered Number

14354481 (England and Wales)
CHANGE SALON LTD
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets314,00014,000
Tangible assets41,4691,839
15,46915,839
Current assets
Stocks51,8003,000
Cash at bank and on hand7,6137,232
9,41310,232
Creditors amounts falling due within one year6(13,088)(21,278)
Net current assets (liabilities)(3,675)(11,046)
Total assets less current liabilities11,7944,793
Net assets11,7944,793
Capital and reserves
Called up share capital100100
Profit and loss account11,6944,693
Shareholders' funds11,7944,793
The financial statements were approved and authorised for issue by the Board of Directors on 24 June 2025, and are signed on its behalf by:
TWIGG, Faye
Director
Registered Company No. 14354481
CHANGE SALON LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings15
Office Equipment33
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 2314,00014,000
At 30 September 2414,00014,000
Net book value
At 30 September 2414,00014,000
At 30 September 2314,00014,000
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 October 232,0002082,208
At 30 September 242,0002082,208
Depreciation and impairment
At 01 October 2330069369
Charge for year30069369
Other adjustments-11
At 30 September 24600139739
Net book value
At 30 September 241,400691,469
At 30 September 231,7001391,839
5.Stocks

2024

2023

££
Other stocks1,8003,000
Total1,8003,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,074480
Taxation and social security10,66911,488
Other creditors-8,460
Accrued liabilities and deferred income1,345850
Total13,08821,278