Saks HB Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08017925 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SAKS HB LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Cheesebrough

S Kee

REGISTERED OFFICE:

24 St Cuthberts Way

Darlington

DL1 1GB

REGISTERED NUMBER:

08017925 (England and Wales)

ACCOUNTANTS:

CP Waites

Chartered Accountants

24 St Cuthberts Way

Darlington

DL1 1GB

FIXED ASSETS

Intangible assets

4

1

Tangible assets

5

5,340

8,422

5,341

8,423

CURRENT ASSETS

Stocks

265

338

Debtors

6

108,049

110,998

Cash at bank and in hand

130,316

187,456

238,630

298,792

CREDITORS

Amounts falling due within one year

7

307,182

383,204

NET CURRENT LIABILITIES

(68,552

)

(84,412

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

(63,211

)

(75,989

)

CREDITORS

Amounts falling due after more than one

year

8

(254,998

)

(264,997

)

PROVISIONS FOR LIABILITIES

10

(1,500

)

(2,200

)

NET LIABILITIES

(319,709

)

(343,186

)

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

(319,809

)

(343,286

)

SHAREHOLDERS' FUNDS

(319,709

)

(343,186

)

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 4 September 2025 and were signed on its behalf by:

S Kee - Director

D Cheesebrough - Director

1.	STATUTORY INFORMATION

Saks HB 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.

Saks Hair (Holdings) Limited, the parent undertaking, has confirmed that it will not seek repayment of the amount owed to it if that 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 and services, excluding value added tax.

Intangible fixed assets

Goodwill, being the amount paid in connection with the acquisition of a business was being amortised evenly over its estimated useful life of between four and a half and five years.

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 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.

Leasing commitments

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

Pensions

The company contributes to an auto enrolment pension scheme. Contributions payable to the scheme are charged to the profit and loss account in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

687,149

AMORTISATION

At 1 January 2024

and 31 December 2024

687,148

NET BOOK VALUE

At 31 December 2024

1

At 31 December 2023

1

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

and

equipment

£

COST

At 1 January 2024

and 31 December 2024

48,155

DEPRECIATION

At 1 January 2024

39,733

Charge for year

3,082

At 31 December 2024

42,815

NET BOOK VALUE

At 31 December 2024

5,340

At 31 December 2023

8,422

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

9,605

5,679

Value added tax

6,024

4,683

Prepayments and accrued income

92,420

100,636

108,049

110,998

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loan

10,002

10,003

Trade creditors

10,954

19,923

Corporation tax

8,036

6,314

Social security and other taxes

8,247

7,257

Accruals and deferred income

114,645

127,443

Amount owed to parent undertaking

88,896

112,531

Amounts owed to associated undertakings

65,056

98,387

Director's current account

1,346

307,182

383,204

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR

2024

2023

£

Bank loan falling due in two to five years

repayable by instalments

4,998

14,997

Amount owed to parent undertaking in two

to five years

250,000

254,998

264,997

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

9,809

876

Between one and five years

15,764

1,752

25,573

2,628

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

1,500

2,200

Deferred

tax

£

Balance at 1 January 2024

2,200

Movement

(700

)

Balance at 31 December 2024

1,500

All of the deferred tax provision relates to accelerated capital allowances.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

12.	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.

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

Recharged costs, goods and services sold

2024

2023

£ £

Kleek Apprenticeships Limited

200

5,000

Recharged costs, goods and services received

2024

2023

£ £

Saksessories Limited

6,604

10,462

Kleek Apprenticeships Limited

8,100

10,299

Swan Kee Limited

18,851

17,530

Interest payable on related party loans

2024

2023

£ £

Kleek Apprenticeships Limited

-

2,288

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

Net amounts owed (to) / from related parties:

2024

2023

£ £

Saksessories Limited

(17,181

)

(37,517

)

Kleek Apprenticeships Limited

(47,875

)

(62,119

)

Swan Kee Limited

(68,850

)

(65,764

)

S Kee - Director

(1,346

)

(1,346

)

13.	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.