IRIS Accounts Production v25.2.0.378 07023953 director 1.4.24 31.3.25 31.3.25 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070239532024-03-31070239532025-03-31070239532024-04-012025-03-31070239532023-03-31070239532023-04-012024-03-31070239532024-03-3107023953ns14:PoundSterling2024-04-012025-03-3107023953ns10:Director12024-04-012025-03-3107023953ns10:PrivateLimitedCompanyLtd2024-04-012025-03-3107023953ns10:SmallEntities2024-04-012025-03-3107023953ns10:AuditExempt-NoAccountantsReport2024-04-012025-03-3107023953ns10:SmallCompaniesRegimeForDirectorsReport2024-04-012025-03-3107023953ns10:SmallCompaniesRegimeForAccounts2024-04-012025-03-3107023953ns10:FullAccounts2024-04-012025-03-3107023953ns10:OrdinaryShareClass12024-04-012025-03-3107023953ns10:RegisteredOffice2024-04-012025-03-3107023953ns5:CurrentFinancialInstruments2025-03-3107023953ns5:CurrentFinancialInstruments2024-03-3107023953ns5:Non-currentFinancialInstruments2025-03-3107023953ns5:Non-currentFinancialInstruments2024-03-3107023953ns5:ShareCapital2025-03-3107023953ns5:ShareCapital2024-03-3107023953ns5:RetainedEarningsAccumulatedLosses2025-03-3107023953ns5:RetainedEarningsAccumulatedLosses2024-03-3107023953ns5:FurnitureFittings2024-04-012025-03-3107023953ns5:ComputerEquipment2024-04-012025-03-3107023953ns5:FurnitureFittings2024-03-3107023953ns5:ComputerEquipment2024-03-3107023953ns5:FurnitureFittings2025-03-3107023953ns5:ComputerEquipment2025-03-3107023953ns5:FurnitureFittings2024-03-3107023953ns5:ComputerEquipment2024-03-3107023953ns5:WithinOneYearns5:CurrentFinancialInstruments2025-03-3107023953ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3107023953ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-03-3107023953ns10:OrdinaryShareClass12025-03-3107023953ns5:RetainedEarningsAccumulatedLosses2024-03-3107023953ns5:RetainedEarningsAccumulatedLosses2024-04-012025-03-31
REGISTERED NUMBER: 07023953














NIRVANA SALONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025






NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NIRVANA SALONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025







DIRECTOR: A Smith





REGISTERED OFFICE: 12 Fratton Road
Portsmouth
Hampshire
PO1 5BX





REGISTERED NUMBER: 07023953





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 2,078 2,753

CURRENT ASSETS
Inventories 5 6,427 7,500
Debtors 6 25,978 39,166
Cash in hand 50 190
32,455 46,856
CREDITORS
Amounts falling due within one year 7 104,168 108,158
NET CURRENT LIABILITIES (71,713 ) (61,302 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(69,635

)

(58,549

)

CREDITORS
Amounts falling due after more than one
year

8

34,731

44,598
NET LIABILITIES (104,366 ) (103,147 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 11 (104,367 ) (103,148 )
SHAREHOLDERS' FUNDS (104,366 ) (103,147 )

NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 5 June 2025 and were signed by:





A Smith - Director


NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

1. STATUTORY INFORMATION

Nirvana Salons Limited is a private company, limited by shares , registered in Not specified/Other. 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 represents net sales of chair rental, product and software recharges, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on cost

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
Creditors are payable upon demand and there are not sufficient reserves to cover the current creditor balances.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 15,417 2,028 17,445
DEPRECIATION
At 1 April 2024 12,972 1,720 14,692
Charge for year 367 308 675
At 31 March 2025 13,339 2,028 15,367
NET BOOK VALUE
At 31 March 2025 2,078 - 2,078
At 31 March 2024 2,445 308 2,753

5. INVENTORIES
2025 2024
£    £   
Stocks 6,427 7,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors - 463
Other debtors 21,000 33,231
Prepayments 4,978 5,472
25,978 39,166

NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts (see note 9) 64,372 68,719
Other loans (see note 9) 25,250 25,250
Trade creditors 5,314 2,670
Social security and other taxes 6,412 6,083
VAT 962 2,583
Accrued expenses 1,858 2,853
104,168 108,158

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Other loans (see note 9) 34,731 44,598

9. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 31,455 33,301
Bank loans 32,917 35,418
Other loans 25,250 25,250
89,622 93,969

Amounts falling due between one and two years:
Director's loan account 34,731 44,598

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
1 Ordinary £1 1 1

11. RESERVES
Retained
earnings
£   

At 1 April 2024 (103,148 )
Deficit for the year (1,219 )
At 31 March 2025 (104,367 )

NIRVANA SALONS LIMITED (REGISTERED NUMBER: 07023953)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025

12. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr A Smith by virtue of his 100% holding of the share capital of the company.