Salons Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02342708 (England and Wales)

Unaudited Financial Statements for the Year Ended 24 December 2024

for

Salons Management Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B D Cocks

Mrs T Frost

M A Harrison

U Mahmud

Mrs L K McVeigh

I Page

Mrs K U Kolendarska

F M B Horan

J M Muthana

P Rama

Mrs A C Miller

Ms R M Dean

Dr A Shaul

Mrs E F Neale

D L Martineau

Ms N B Shaul

Ms M E Shillingford

REGISTERED OFFICE:

Unit 3

Colindale Technology Park

Colindeep Lane

London

NW9 6BX

REGISTERED NUMBER:

02342708 (England and Wales)

CURRENT ASSETS

Debtors

4

36,077

34,976

Cash at bank

148,598

107,816

184,675

142,792

CREDITORS

Amounts falling due within one year

5

61,563

41,383

NET CURRENT ASSETS

123,112

101,409

TOTAL ASSETS LESS CURRENT
LIABILITIES

123,112

101,409

CAPITAL AND RESERVES

Called up share capital

6

25

Capital redemption reserve

7

3

Funds for longer term

maintenance

7

123,084

101,381

SHAREHOLDERS' FUNDS

123,112

101,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 December 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.

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 16 September 2025 and were signed on its behalf by:

U Mahmud - Director

1.	STATUTORY INFORMATION

Salons Management 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Income

Income represents the amount receivable from residents in respect of levies made to recover operating costs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.12.24

24.12.23

£

Service charge debtors

7,528

16,341

Other debtors

14,495

1,229

Prepayments

14,054

17,406

36,077

34,976

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24.12.24

24.12.23

£

Trade creditors

12,287

28,297

Surplus repayable to

Leaseholders

11,521

8,105

Service Charges received in

advance

19,810

-

VAT

174

950

Accrued expenses

17,771

4,031

61,563

41,383

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

24.12.24

24.12.23

value:

£

25

Ordinary

£1

25

7.

RESERVES

Funds for

Capital

longer

Retained

redemption

term

earnings

reserve

maintenance

Totals

£

At 25 December 2023

-

3

101,381

101,384

Profit for the year

33,225

Transfer to Funds For Longer

Term Maintenance

(21,704

)

-

21,703

(1

)

Payable to Leaseholders

(11,521

)

-

(11,521

)

At 24 December 2024

-

3

123,084

123,087

8.	BANK ACCOUNTS

For the period of these accounts, monies maintained by the managing agents, Fresh Property Management Limited, were and are held by way of a statutory trust, in interest bearing no notice designated client bank accounts as follows:

1) Barclays Bank Plc - St Albans 2, Leicester

2) Bank of Scotland - Trust Property Management Ltd, Edinburgh

3) Metro Bank Plc - One Southampton Row, London

4) Barclays Bank Plc - Leicester

The titles designated on these accounts were as follows:

1) Fresh PML Client Account Re Westpoint

2) FPM Re: Westpoint Client Account

3) Salons Management Ltd Client Account

4) FPM Des Westpoint

This is in accordance with Section 42 and Section 42A of the Landlord and Tenant Act 1987.

9.

TAXATION

The company operates on a mutual trading basis and is not liable to Corporation Tax. Funds held by the company on behalf of the residents are deemed to be a trust under Section 42 of the Landlord & Tenant Act 1987 and liable to taxation of 20% on interest received.