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REGISTERED NUMBER: 03451410 (England and Wales)















Unaudited Financial Statements

for the Year Ended

30 November 2024

for

Salon Equipment Centre Limited

Salon Equipment Centre Limited (Registered number: 03451410)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Salon Equipment Centre Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: T J Wright
J Wright





REGISTERED OFFICE: 7 Turnpike Close
Bilton Way
Lutterworth
Leicestershire
LE17 4YB





REGISTERED NUMBER: 03451410 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Salon Equipment Centre Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Salon Equipment Centre Limited for the year ended 30 November 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Salon Equipment Centre Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Salon Equipment Centre Limited and state those matters that we have agreed to state to the Board of Directors of Salon Equipment Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Salon Equipment Centre Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Salon Equipment Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Salon Equipment Centre Limited. You consider that Salon Equipment Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Salon Equipment Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


30 June 2025

Salon Equipment Centre Limited (Registered number: 03451410)

Statement of Financial Position
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,400 -
Tangible assets 5 725,398 751,138
733,798 751,138

CURRENT ASSETS
Stocks 815,671 798,931
Debtors 6 90,989 212,812
Cash at bank and in hand 1,187,752 1,113,396
2,094,412 2,125,139
CREDITORS
Amounts falling due within one year 7 419,166 469,012
NET CURRENT ASSETS 1,675,246 1,656,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,409,044

2,407,265

CREDITORS
Amounts falling due after more than
one year

8

(65,336

)

(162,725

)

PROVISIONS FOR LIABILITIES (10,371 ) (13,761 )
NET ASSETS 2,333,337 2,230,779

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 2,332,337 2,229,779
SHAREHOLDERS' FUNDS 2,333,337 2,230,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Salon Equipment Centre Limited (Registered number: 03451410)

Statement of Financial Position - continued
30 November 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 Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:




T J Wright - Director



J Wright - Director


Salon Equipment Centre Limited (Registered number: 03451410)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. STATUTORY INFORMATION

Salon Equipment Centre Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales are recognised at the point of sale.

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.

Computer software is being amortised evenly over its 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.
Freehold property - 1% & 10% Straight line
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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 statement of financial position date.


Salon Equipment Centre Limited (Registered number: 03451410)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 20 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 10,500
At 30 November 2024 10,500
AMORTISATION
Charge for year 2,100
At 30 November 2024 2,100
NET BOOK VALUE
At 30 November 2024 8,400

Salon Equipment Centre Limited (Registered number: 03451410)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023 912,912 120,575 86,224 1,119,711
Additions - 524 - 524
At 30 November 2024 912,912 121,099 86,224 1,120,235
DEPRECIATION
At 1 December 2023 218,226 106,198 44,149 368,573
Charge for year 12,095 3,646 10,523 26,264
At 30 November 2024 230,321 109,844 54,672 394,837
NET BOOK VALUE
At 30 November 2024 682,591 11,255 31,552 725,398
At 30 November 2023 694,686 14,377 42,075 751,138

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 9,719 29,924
Other debtors 5,795 795
Directors' current accounts 49,472 167,674
Prepayments 26,003 14,419
90,989 212,812

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 88,555 84,366
Hire purchase contracts 8,782 14,990
Trade creditors 106,494 109,486
Corporation tax 95,598 100,133
Social security and other taxes 6,585 7,082
VAT 100,524 123,473
Other creditors 1,441 1,408
Accruals and deferred income 11,187 28,074
419,166 469,012

Salon Equipment Centre Limited (Registered number: 03451410)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans - 1-2 years 65,336 88,555
Bank loans - 2-5 years - 65,336
Hire purchase contracts - 8,834
65,336 162,725

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 153,891 238,257
Hire purchase contracts 8,782 23,824
162,673 262,081

The bank loans are secured by a floating charge on the company assets. The hire purchase contracts are secured on the assets the contract relates to.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
500 Ordinary £1 500 500
500 Ordinary A £1 500 500
1,000 1,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

30.11.24 30.11.23
£    £   
T J Wright and J Wright
Balance outstanding at start of year 167,674 200,690
Amounts advanced 50,798 167,674
Amounts repaid (169,000 ) (200,690 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 49,472 167,674

The loan is interest free and repayable on demand.