Salon Cabelo Farnham Ltd
Registered number: 13228140
Statement of Financial Position
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 13,157 14,845
Current assets
Stocks 2,000 -
Debtors 5 31,231 23,947
Cash at bank and in hand 70,556 35,622
103,787 59,569
Creditors: amounts falling due within one year 6 (56,140) (53,359)
Net current assets 47,647 6,210
Total assets less current liabilities 60,804 21,055
Provisions for liabilities (586) (602)
Net assets 60,218 20,453
Capital and reserves
Called up share capital 100 100
Profit and loss account 60,118 20,353
Shareholder's funds 60,218 20,453
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Louise Shailer
Director
Approved by the board on 21 July 2025
Salon Cabelo Farnham Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold buildings over the lease term
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Exceptional items 2025 2024
£ £
Loan write off (9,470) -
(9,470) -
3 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 9 9
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2024 16,924 5,875 22,799
Additions - 865 865
At 28 February 2025 16,924 6,740 23,664
Depreciation
At 1 March 2024 4,654 3,300 7,954
Charge for the year 1,693 860 2,553
At 28 February 2025 6,347 4,160 10,507
Net book value
At 28 February 2025 10,577 2,580 13,157
At 29 February 2024 12,270 2,575 14,845
5 Debtors 2025 2024
£ £
Trade debtors 11,061 4,565
Prepayments 3,604 2,882
Other debtors 16,566 16,500
31,231 23,947
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 6,522 6,671
Accruals 1,406 1,406
Corporation tax 22,401 14,365
Other taxes and social security costs 25,811 20,260
Other creditors - 10,657
56,140 53,359
7 Other financial commitments 2025 2024
£ £
Total future minimum payments under non-cancellable operating leases 33,750 57,500
8 Other information
Salon Cabelo Farnham Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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