Saks Academies Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08031423 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SAKS ACADEMIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Cheesebrough

S Kee

REGISTERED OFFICE:

24 St Cuthberts Way

Darlington

DL1 1GB

REGISTERED NUMBER:

08031423 (England and Wales)

ACCOUNTANTS:

CP Waites

Chartered Accountants

24 St Cuthberts Way

Darlington

DL1 1GB

CURRENT ASSETS

Debtors

4

1,399

1,395

Cash at bank

601

113

2,000

1,508

CREDITORS

Amounts falling due within one year

5

64,318

64,195

NET CURRENT LIABILITIES

(62,318

)

(62,687

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

(62,318

)

(62,687

)

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

(62,418

)

(62,787

)

SHAREHOLDERS' FUNDS

(62,318

)

(62,687

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 30 June 2025 and were signed on its behalf by:

S Kee - Director

1.	STATUTORY INFORMATION

Saks Academies 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.

The company did not trade in the current year or the prior year and the directors are unable to confirm that the company will recommence trading in a period of more than one year from the date that the financial statements have been approved.

The accounts have been prepared on the basis that the company is not a going concern with all assets stated at their recoverable amounts.

Taxation

Taxation for the year comprised 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

During the year there were 2 directors (2023 - 2) and no other employees (2023 - Nil).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

VAT

519

395

Prepayments and accrued income

880

1,000

1,399

1,395

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

1,051

328

Amount owed to fellow subsidiary

undertaking

9,367

Amount owed to associated undertaking

53,900

54,500

64,318

64,195

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

7.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with its parent and fellow wholly owned subsidiaries within the group.

The following balances were held with other related parties at the balance sheet date:

Net amounts owed to related parties:

2024

2023

£

Kleek Apprenticeships Limited

53,900

54,500

8.	CONTROLLING PARTY

The company is a 100% subsidiary of Saks Hair (Holdings) Limited a company incorporated in the UK and whose registered office is 24 St Cuthberts Way, Darlington, DL1 1GB.