Saksessories Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06347115 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SAKSESSORIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Cheesebrough

S Kee

SECRETARY:

D Cheesebrough

REGISTERED OFFICE:

24 St Cuthberts Way

Darlington

DL1 1GB

REGISTERED NUMBER:

06347115 (England and Wales)

ACCOUNTANTS:

CP Waites

Chartered Accountants

24 St Cuthberts Way

Darlington

DL1 1GB

FIXED ASSETS

Tangible assets

4

-

1

CURRENT ASSETS

Stocks

5

6,020

6,572

Debtors

6

17,181

37,517

Cash at bank

10,357

9,651

33,558

53,740

CREDITORS

Amounts falling due within one year

7

63,759

84,419

NET CURRENT LIABILITIES

(30,201

)

(30,679

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

(30,201

)

(30,678

)

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

(30,301

)

(30,778

)

SHAREHOLDERS' FUNDS

(30,201

)

(30,678

)

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 Statement of Income and Retained Earnings 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

Saksessories 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 amount owed to related parties includes £61,693 (2023- £82,282) owed to Saks Hair (Holdings) Limited.

Saks Hair (Holdings) Limited has confirmed that it will not seek repayment of this if it would prejudice the company's ability to trade.

On this basis the directors are of the opinion that the accounts should be prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods, 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, fittings and equipment

-

20% on cost

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

At 1 January 2024

720

Disposals

(720

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

719

Eliminated on disposal

(719

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1

5.

STOCKS

2024

2023

£

Goods for resale

6,020

6,572

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Amounts owed by a related party

17,181

37,517

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

388

445

Amounts owed to related parties

61,952

82,502

Value added tax

370

422

Accruals and deferred income

1,049

1,050

63,759

84,419

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

475

A Preferred ordinary

10p

48

50

B Preference

10p

5

50

C Ordinary

10p

5

425

D Ordinary

10p

42

100

The A preferred ordinary, C ordinary and D ordinary shares have attached to them full voting, dividend and capital distribution rights and are not redeemable.

The A preferred ordinary shares are also entitled to a fixed cumulative dividend of an aggregate sum of 0.5% of turnover after deduction of the first £1,000,000 of turnover in any financial year.

The B preference shares have attached to them full capital distribution rights and are not redeemable but carry no voting rights. They are entitled to a fixed cumulative dividend of an aggregate sum of 1.5% of turnover after deduction of the first £1,000,000 of turnover in any financial year but have no other rights to dividends.

9.	RELATED PARTY DISCLOSURES

During the year the company entered into the following transactions with related parties:

Recharged costs, goods and services sold

2024

2023

£

Saks HB Limited

6,604

10,462

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

Net amounts owed (to) / from related parties:

2024

2023

£

Saks Hair (Holdings) Limited

(61,693

)

(82,282

)

Saks HB Limited

17,181

37,517