REGISTERED NUMBER: 05064077 (England and Wales)

K.B. SALON SUPPLIES LIMITED

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 5 APRIL 2025

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

5

Statement of Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

12

Notes to the Financial Statements

13

DIRECTORS:

I M Aherne

K Boothroyde

REGISTERED OFFICE:

Bond Street

Northam

Southampton

Hampshire

SO14 5QA

REGISTERED NUMBER:

05064077 (England and Wales)

AUDITORS:

Hopper Williams & Bell Limited

Statutory Auditor

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

The directors present their strategic report for the period 1 April 2024 to 5 April 2025.

PRINCIPAL ACTIVITY

The principal activity of the company is that of the distribution of hairdressing products. There were no significant changes in the company's activities during the period under review.

REVIEW OF BUSINESS

The statement of comprehensive income is set out on page 9 and shows gross profit of £3,379,226 for the year, which represented a decrease of 4% on the prior year, principally driven by the decrease in turnover of 7%. This was due to both the impact of discontinuations of certain exclusive brands and continued changes within the sales representative division of the business. There has been an increase in overall profit margin during the period which was as a result of the product mix and planned focus on the more profitable business channels.

The loss before taxation figure of £571,482 is an improvement on the prior year's loss and also contains a significant write down of goodwill from previous historic acquisitions. The overall loss is a result of the reduction in turnover combined with various fixed costs that were unable to be significantly reduced in the year, such as wages and computer costs. These fixed costs were expected during the period while the company realigns its activities to the needs of customers.

All turnover is derived from UK based sales.

The company's administrative expenses have decreased by 5.5% to £3,908,130. This was principally down to decreases in wages, light and heat and motor expenses.

The key measure of performance within the company is the gross margin. Although a traditional measure it enables the directors to monitor and control the company's profitability and assess the success the quality of their decision making over the year under review. Gross margin continues to be an area of focus in future periods.

The directors do not recommend the payment of a dividend.

There have been no significant changes to the company's business since the balance sheet date.

PRINCIPAL RISKS AND UNCERTAINTIES

The supply of hairdressing products within the UK remains highly competitive and in the opinion of the directors continues to become price driven. The company continues to focus more on exclusively supplied brands and furniture, which attract a better profit margin, as well as promoting the differentiation of its superior service from its competitors.

The business continues to experience increases in its cost of goods from suppliers as part of the national inflation and global market increases but these costs will be passed to customers to maintain margins.

The Directors have plans in place to respond to the changes in customer buying patterns and deliver its services more efficiently, while managing wage costs and administration cost increases over the coming few years. This utilises the cash and carry branches the company operates from and enables reductions in its cost base, particularly wages and rents and these crystalise in early 2026. Management will also continue to focus on the future product sales mix to further improve profit margins. This will reduce the loss in future years and then return to profitability in a leaner and more efficient structure.

The company's credit risk is primarily attributable to its trade debtors. Credit risk is managed by running robust credit control procedures while frequently and actively monitoring debt levels.

The Company has a mortgage facility of £513,996 with Lloyds Banking Group at a rate of 2.3% above the Bank of England Base Rate. The company made use of the government backed Coronavirus Business Interruption Loan Scheme and has a balance of £174,998 at a rate of 1.4% above the Bank of England Base Rate . The company also has a lending facility of £900,000 with Lloyds TSB Commercial Finance at a rate of 2.4% above the Bank of England Base Rate.

The company monitors cash flow as part of its day to day control procedures and the directors ensure that appropriate facilities are available to be drawn upon as necessary.

ON BEHALF OF THE BOARD:

I M Aherne - Director

12 December 2025

The directors present their report with the financial statements of the company for the period 1 April 2024 to 5 April 2025.

DIVIDENDS

No dividends will be distributed for the period ended 5 April 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

I M Aherne

K Boothroyde

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:

I M Aherne - Director

12 December 2025

Opinion

We have audited the financial statements of K.B. Salon Supplies Limited (the 'company') for the period ended 5 April 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 5 April 2025 and of its loss for the period then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities even though the audit has been properly planned and performed in accordance with the ISAs (UK). The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regulatory frameworks that are applicable to the company, and the industry in which it operates. These include but are not limited to compliance with the Companies Act 2006, UK Generally Accepted Accounting Practice and the relevant tax compliance regulations for the company.

- We obtained an understanding of how the company is complying with these frameworks through discussions with management.

- We enquired with management whether there were any instances of non-compliance with laws and regulations or whether they had knowledge of actual or suspected fraud. These enquiries are corroborated through follow-up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the company's financial statements to material misstatement, including the risk of fraud and management override of controls. We designed our audit procedures to respond to this assessment, including the identification and testing of any related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature.

- We assessed the appropriateness of the collective competence and capabilities of the engagement team, including consideration of the engagement team's knowledge and understanding of the industry in which the company operates in, and their practical experience through training and participation with audit engagements of a similar nature.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Gary Brown FCCA (Senior Statutory Auditor)

for and on behalf of Hopper Williams & Bell Limited

Statutory Auditor

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

14 December 2025

TURNOVER

3

9,337,683

10,053,175

Cost of sales

(5,958,457

)

(6,539,061

)

GROSS PROFIT

3,379,226

3,514,114

Administrative expenses

(3,908,130

)

(4,135,310

)

(528,904

)

(621,196

)

Other operating income

10,500

16,879

OPERATING LOSS

5

(518,404

)

(604,317

)

Interest receivable and similar income

45,398

48,011

(473,006

)

(556,306

)

Interest payable and similar expenses

6

(98,476

)

(99,099

)

LOSS BEFORE TAXATION

(571,482

)

(655,405

)

Tax on loss

7

24,175

156,286

LOSS FOR THE FINANCIAL PERIOD

(547,307

)

(499,119

)

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD

(547,307

)

(499,119

)

FIXED ASSETS

Intangible assets

8

-

131,798

Tangible assets

9

1,686,255

1,896,936

Investments

10

-

-

1,686,255

2,028,734

CURRENT ASSETS

Stocks

11

1,724,136

1,830,177

Debtors

12

1,706,145

2,244,133

Cash at bank and in hand

283,214

210,972

3,713,495

4,285,282

CREDITORS

Amounts falling due within one year

13

(2,258,349

)

(2,346,041

)

NET CURRENT ASSETS

1,455,146

1,939,241

TOTAL ASSETS LESS CURRENT LIABILITIES

3,141,401

3,967,975

CREDITORS

Amounts falling due after more than one year

14

(531,483

)

(786,575

)

PROVISIONS FOR LIABILITIES

18

-

(24,175

)

NET ASSETS

2,609,918

3,157,225

CAPITAL AND RESERVES

Called up share capital

19

50,000

50,000

Retained earnings

20

2,559,918

3,107,225

SHAREHOLDERS' FUNDS

2,609,918

3,157,225

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2025 and were signed on its behalf by:

I M Aherne - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2023

50,000

3,606,344

3,656,344

Changes in equity

Total comprehensive income

-

(499,119

)

(499,119

)

Balance at 31 March 2024

50,000

3,107,225

3,157,225

Changes in equity

Total comprehensive income

-

(547,307

)

(547,307

)

Balance at 5 April 2025

50,000

2,559,918

2,609,918

1.	STATUTORY INFORMATION

K.B. Salon Supplies 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirement of paragraph 33.7.

Preparation of consolidated financial statements

The financial statements contain information about K.B. Salon Supplies Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it is included by full consolidation in the consolidated financial statements of its parent, Marblesea Limited, which has its registered office at Bond Street, Shamrock Quay, Northam, Southampton, Hampshire, SO14 5QA.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are ready to be dispatched to the customer. Export income is recognised after the goods have been fully assembled and ready to be paid for by the customer.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Goodwill arises on acquisitions and represents the excess of the fair value of the consideration given and associated costs over the fair value of the identifiable assets and liabilities acquired. Goodwill is capitalised and is amortised on a straight line basis over its expected useful economic life of between ten and twenty years. Provision is made for any impairment in value.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% Straight line

Long leasehold

-

2% Straight line

Improve- ments to property

-

2% Straight line

Fixtures and fittings

-

25% Reducing balance

Motor vehicles

-

Straight line over 5 years

Computer equipment

-

Straight line over 5 years and Straight line over 3 years

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 period comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.

TURNOVER

Turnover is wholly attributable to the principal activity of the company and arises within the United Kingdom and Channel Islands.

4.	EMPLOYEES AND DIRECTORS

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Wages and salaries

2,020,681

2,100,213

Social security costs

167,956

190,111

Other pension costs

48,952

49,289

2,237,589

2,339,613

The average number of employees during the period was as follows:

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

Staff

86

96

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Directors' remuneration

59,023

76,522

Directors' pension contributions to money purchase schemes

4,819

4,740

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

1

1

5.	OPERATING LOSS

The operating loss is stated after charging/(crediting):

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Other operating leases

248,157

244,726

Depreciation - owned assets

156,817

145,196

Depreciation - assets on hire purchase contracts

77,780

127,823

Profit on disposal of fixed assets

(32,455

)

(14,941

)

Goodwill amortisation

27,049

43,660

Auditors' remuneration

7,980

7,600

Auditors' remuneration for non audit work

7,267

5,600

Impairment of intangible fixed assets

104,749

-

The operating loss for the year includes a non-recurring charge for impairment of goodwill of £104,749 (2024: £nil).

6.

INTEREST PAYABLE AND SIMILAR EXPENSES

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Bank interest

87,042

86,439

Hire purchase

11,434

12,660

98,476

99,099

7.

TAXATION

Analysis of the tax credit

The tax credit on the loss for the period was as follows:

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Deferred tax

(24,175

)

(156,286

)

Tax on loss

(24,175

)

(156,286

)

Reconciliation of total tax credit included in profit and loss

The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period

1.4.24

to

Year Ended

5.4.25

31.3.24

£

£

Loss before tax

(571,482

)

(655,405

)

Loss multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%)

(142,871

)

(163,851

)

Effects of:

Expenses not deductible for tax purposes

3,052

3,750

Depreciation on non-qualifying assets

3,812

3,815

Movement on unprovided deferred tax asset

95,266

-

Other differences

16,566

-

Total tax credit

(24,175

)

(156,286

)

8.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 5 April 2025

1,276,308

AMORTISATION

At 1 April 2024

1,144,510

Amortisation for period

27,049

Impairments

104,749

At 5 April 2025

1,276,308

NET BOOK VALUE

At 5 April 2025

-

At 31 March 2024

131,798

9.	TANGIBLE FIXED ASSETS

Improve-

Freehold

Long

ments to

property

leasehold

property

£

£

£

COST

At 1 April 2024

520,000

285,000

584,526

Additions

-

-

15,880

Disposals

-

-

-

At 5 April 2025

520,000

285,000

600,406

DEPRECIATION

At 1 April 2024

74,362

40,850

47,058

Charge for period

6,933

3,800

11,704

Eliminated on disposal

-

-

-

At 5 April 2025

81,295

44,650

58,762

NET BOOK VALUE

At 5 April 2025

438,705

240,350

541,644

At 31 March 2024

445,638

244,150

537,468

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

579,049

695,627

325,172

2,989,374

Additions

16,339

-

15,442

47,661

Disposals

(5,170

)

(133,907

)

(13,792

)

(152,869

)

At 5 April 2025

590,218

561,720

326,822

2,884,166

DEPRECIATION

At 1 April 2024

401,653

402,730

125,785

1,092,438

Charge for period

47,032

104,492

60,636

234,597

Eliminated on disposal

(4,431

)

(110,901

)

(13,792

)

(129,124

)

At 5 April 2025

444,254

396,321

172,629

1,197,911

NET BOOK VALUE

At 5 April 2025

145,964

165,399

154,193

1,686,255

At 31 March 2024

177,396

292,897

199,387

1,896,936

The net book value of tangible fixed assets includes £ 151,251 (2024 - £ 280,290 ) in respect of assets held under hire purchase contracts.

10.	FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Salon Supplies of Crewe Limited

Registered office: Unit 10 Alvaston Business Park, Nantwich, Cheshire, England, CW5 6PF

Nature of business: Dormant

%

Class of shares:

holding

Ordinary A

100.00

Ordinary B

100.00

2025

2024

£

£

Aggregate capital and reserves

(19,087

)

(19,087

)