Chair Salons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11105914 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

CHAIR SALONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Coleman

REGISTERED OFFICE:

21 Heol Llanishen Fach

Cardiff

CF14 6RE

REGISTERED NUMBER:

11105914 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Tangible assets

4

13,821

12,819

CURRENT ASSETS

Stocks

-

3,000

Cash at bank

309

2,588

309

5,588

CREDITORS

Amounts falling due within one year

5

(771

)

(5,807

)

NET CURRENT LIABILITIES

(462

)

(219

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,359

12,600

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

13,259

12,500

SHAREHOLDERS' FUNDS

13,359

12,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 September 2022 and were signed by:

C Coleman - Director

1.	STATUTORY INFORMATION

Chair Salons 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 Income Statement, 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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 January 2021

10,561

4,236

14,797

Additions

-

1,791

1,791

At 31 December 2021

10,561

6,027

16,588

DEPRECIATION

At 1 January 2021

-

1,978

1,978

Charge for year

-

789

789

At 31 December 2021

-

2,767

2,767

NET BOOK VALUE

At 31 December 2021

10,561

3,260

13,821

At 31 December 2020

10,561

2,258

12,819

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Tax

435

5,247

Social security and other taxes

61

3

Directors' current accounts

20

257

Accrued expenses

255

300

771

5,807

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

1

100

100

7.

RESERVES

Retained

earnings

£

At 1 January 2021

12,500

Profit for the year

2,859

Dividends

(2,100

)

At 31 December 2021

13,259

8.	DIRECTORS LOAN ACCOUNT

As at 31st December 2021 Mr C Coleman was owed £20 (2020 - £257). This amount is interest free and repayable upon demand.