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Registered number: NI631183
Academy Salon Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Academy Salon Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1
Notes to the Financial Statements | 2—3

Page 1
Academy Salon Limited
Balance Sheet
As At 31 March 2025
Balance Sheet
Registered number: NI631183

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Investments | 5 |  | 250,000 |  | 250,000
|  |  | 250,000 |  | 250,000
CURRENT ASSETS
Cash at bank and in hand |  | 473,213 |  | 480,176 |
|  | 473,213 |  | 480,176 |
Creditors: Amounts Falling Due Within One Year | 6 | (419,410 ) |  | (485,140 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 53,803 |  | (4,964 )
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 303,803 |  | 245,036
NET ASSETS |  |  | 303,803 |  | 245,036
Income and Expenditure Account |  |  | 303,803 |  | 245,036
MEMBERS' FUNDS |  |  | 303,803 |  | 245,036

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Income and Expenditure Account.
On behalf of the board

Mr William McIlroy Director
01/10/2025

The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Academy Salon Limited
Notes to the Financial Statements
For The Year Ended 31 March 2025
Notes to the Financial Statements
1. General Information
Academy Salon Limited is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI631183 . The registered office is 10-12 Rosemary Street, Belfast, BT1 1QD.
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. 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:

Motor Vehicles | 25% Straight Line
Fixtures & Fittings | 25% Straight Line

3. Average Number of Employees
Average number of employees, including directors, during the year was: 35 (2024: 76)
35 76
4. Tangible Assets

| Motor Vehicles | Fixtures & Fittings | Total
--- | --- | --- | ---
| £ | £ | £
Cost
As at 1 April 2024 | 13,125 | 87,045 | 100,170
As at 31 March 2025 | 13,125 | 87,045 | 100,170
Depreciation
As at 1 April 2024 | 13,125 | 87,045 | 100,170
As at 31 March 2025 | 13,125 | 87,045 | 100,170
Net Book Value
As at 31 March 2025 | - | - | -
As at 1 April 2024 | - | - | -

Page 2
Page 3
Academy Salon Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2025
5. Investments

| Unlisted
--- | ---
| £
Cost or Valuation
As at 1 April 2024 | 250,000
As at 31 March 2025 | 250,000
Provision
As at 1 April 2024 | -
As at 31 March 2025 | -
Net Book Value
As at 31 March 2025 | 250,000
As at 1 April 2024 | 250,000

6. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Trade creditors | 25,998 |  | 32,523
Other taxes and social security | 3,754 |  | 3,754
VAT | 22,078 |  | 36,783
Accruals and deferred income | 5,500 |  | -
Amounts owed to related parties | 362,080 |  | 412,080
| 419,410 |  | 485,140

7. Related Party Transactions
Limestone Youth Training Project LtdMr McIlroy is a trustee of Limestone Youth Training Project LtdTrading amount owed to related party - £362,080 (2023 - £512,080)

Limestone Youth Training Project Ltd

Mr McIlroy is a trustee of Limestone Youth Training Project Ltd

Trading amount owed to related party - £362,080 (2023 - £512,080)

8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 3