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Registered number: 02970448
McGuigan Salon Limited
Unaudited Financial Statements
For the Period 1 October 2023 to 31 December 2024
McGuigan Salon Limited
Contents
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
McGuigan Salon Limited
Balance Sheet
As At 31 December 2024
Balance Sheet
Registered number: 02970448
31 December 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 112,700 -
Tangible Assets 5 46,239 -
158,939 -
CURRENT ASSETS
Stocks 6 7,625 -
Debtors 7 52,516 2
Cash at bank and in hand 3,125 -
63,266 2
Creditors: Amounts Falling Due Within One Year 8 (224,431 ) -
NET CURRENT ASSETS (LIABILITIES) (161,165 ) 2
TOTAL ASSETS LESS CURRENT LIABILITIES (2,226 ) 2
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (11,560 ) -
NET (LIABILITIES)/ASSETS (13,786 ) 2
CAPITAL AND RESERVES
Called up share capital 10 2 2
Profit and Loss Account (13,788 ) -
SHAREHOLDERS' FUNDS (13,786) 2
Page 1
Page 2
McGuigan Salon Limited
Balance Sheet (continued)
As At 31 December 2024
For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Haylee Benton
Director
19 September 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
McGuigan Salon Limited
Notes to the Financial Statements
For the Period 1 October 2023 to 31 December 2024
Notes to the Financial Statements
1. General Information
McGuigan Salon Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02970448 . The registered office is Audley House, Northbridge Road, Berkhamsted, Herts, HP4 1EH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10% reducing balance
Motor Vehicles 25% straight line
Fixtures & Fittings 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
Page 3
Page 4
McGuigan Salon Limited
Notes to the Financial Statements (continued)
For the Period 1 October 2023 to 31 December 2024
2.6. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 19 (2023: NIL)
19 -
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 -
Additions 128,800
As at 31 December 2024 128,800
Amortisation
As at 1 October 2023 -
Provided during the period 16,100
As at 31 December 2024 16,100
Net Book Value
As at 31 December 2024 112,700
As at 1 October 2023 -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 October 2023 -
Additions 56,741
As at 31 December 2024 56,741
Depreciation
As at 1 October 2023 -
Provided during the period 10,502
As at 31 December 2024 10,502
Net Book Value
As at 31 December 2024 46,239
As at 1 October 2023 -
Page 4
Page 5
McGuigan Salon Limited
Notes to the Financial Statements (continued)
For the Period 1 October 2023 to 31 December 2024
6. Stocks
31 December 2024 30 September 2023
£ £
Stock 7,625 -
7. Debtors
31 December 2024 30 September 2023
£ £
Due within one year
Other debtors 52,516 2
8. Creditors: Amounts Falling Due Within One Year
31 December 2024 30 September 2023
£ £
Trade creditors 19,568 -
Other creditors 129,822 -
Taxation and social security 75,041 -
224,431 -
9. Deferred Taxation
The provision for deferred tax is made up as follows:
31 December 2024 30 September 2023
£ £
Other timing differences 11,560 -
10. Share Capital
31 December 2024 30 September 2023
£ £
Called Up Share Capital not Paid - 2
Called Up Share Capital has been paid up 2 -
Amount of Allotted, Called Up Share Capital 2 2
Page 5
Page 6
McGuigan Salon Limited
Notes to the Financial Statements (continued)
For the Period 1 October 2023 to 31 December 2024
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
31 December 2024 30 September 2023
£ £
Later than one year and not later than five years 24,667 -
24,667 -
12. Related Party Transactions
At the end of the year the company was owed the following from its associated companies:
£16,231 (2023 -£nil) by Alchemy & I Limited 
£34,919 (2023 - £nil) by Cecily Day Spa Limited
During the year the company provided services to the following associated companies. These transactions were all provided for at market rate:
£9,539 (2023 - £nil) to Alchemy & I Limited
£100 (2023 - £nil) to Cecily Day Spa Limited
£100 (2023 - £nil) to Hybrid Spas Limited
£100 (2023 - £nil) to Koha Clinics Limited
During the year the following associated companies provided services to the company. These transactions were all provided for at market rate:
£13,475 (2023 - £nil) by Alchemy & I Limited
£2,172 (2023 - £nil) by Cecily Day Spa Limited
£266 (2023 - £nil) by Hybrid Spas Limited
£130 (2023 - £nil) by Koha Clinics Limited
At the end of the year the company owed its director £53,341 (2023 - £nil).
Page 6