Sesh Hairdressing Limited - Accounts to registrar (filleted) - small 23.2.5
Sesh Hairdressing Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 October 2023 |
| for |
| Sesh Hairdressing Limited |
| Sesh Hairdressing Limited (Registered number: SC274143) |
| Contents of the Financial Statements |
| for the Year Ended 31 October 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Sesh Hairdressing Limited |
| Company Information |
| for the Year Ended 31 October 2023 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Management Accountants |
| Drumsheugh Toll |
| 2 Belford Road |
| Edinburgh |
| Midlothian |
| EH4 3BL |
| Sesh Hairdressing Limited (Registered number: SC274143) |
| Balance Sheet |
| 31 October 2023 |
| 31.10.23 | 31.10.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| 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 |
| Sesh Hairdressing Limited (Registered number: SC274143) |
| Notes to the Financial Statements |
| for the Year Ended 31 October 2023 |
| 1. | STATUTORY INFORMATION |
| Sesh Hairdressing Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method. |
| Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received. |
| 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. |
| Sesh Hairdressing Limited (Registered number: SC274143) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 November 2022 |
| Additions |
| At 31 October 2023 |
| DEPRECIATION |
| At 1 November 2022 |
| Charge for year |
| At 31 October 2023 |
| NET BOOK VALUE |
| At 31 October 2023 |
| At 31 October 2022 |
| 5. | STOCKS |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Other debtors |
| Directors' current accounts | 39,395 | 32,229 |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 18,279 | 34,492 |
| Other creditors |
| Accruals and deferred income |
| Sesh Hairdressing Limited (Registered number: SC274143) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 October 2023 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Other loans - 2-5 years |
| Accruals and deferred income |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 147,621 | - |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | SECURED DEBTS |
| RBS Bank Plc holds a floating charge over the freehold property of the company in respect of a mortgage taken out by the company totalling £275,803. At the year end 31 October 2023 £272,359 was outstanding on the mortgage. |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
| value: | £ | £ |
| Ordinary A | £0.01 | 1 | 1 |
| Ordinary B | £0.01 | - | - |
| 1 | 1 |
| 12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022: |
| 31.10.23 | 31.10.22 |
| £ | £ |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| The directors loans are unsecured and there are no fixed repayment terms. Interest was charged on balances in excess of £10,000 at a rate of 2.25% per annum. |