ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

SALON GRAND LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-10-312021-10-31No description of principal activity2020-11-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11467938 2020-11-01 2021-10-31 11467938 2019-11-01 2020-10-31 11467938 2021-10-31 11467938 2020-10-31 11467938 c:Director1 2020-11-01 2021-10-31 11467938 d:CurrentFinancialInstruments 2021-10-31 11467938 d:CurrentFinancialInstruments 2020-10-31 11467938 d:Non-currentFinancialInstruments 2021-10-31 11467938 d:Non-currentFinancialInstruments 2020-10-31 11467938 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 11467938 d:CurrentFinancialInstruments d:WithinOneYear 2020-10-31 11467938 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 11467938 d:Non-currentFinancialInstruments d:AfterOneYear 2020-10-31 11467938 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-10-31 11467938 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-10-31 11467938 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-10-31 11467938 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-10-31 11467938 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-10-31 11467938 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-10-31 11467938 d:ShareCapital 2021-10-31 11467938 d:ShareCapital 2020-10-31 11467938 d:RetainedEarningsAccumulatedLosses 2021-10-31 11467938 d:RetainedEarningsAccumulatedLosses 2020-10-31 11467938 c:FRS102 2020-11-01 2021-10-31 11467938 c:AuditExempt-NoAccountantsReport 2020-11-01 2021-10-31 11467938 c:FullAccounts 2020-11-01 2021-10-31 11467938 c:PrivateLimitedCompanyLtd 2020-11-01 2021-10-31 iso4217:GBP xbrli:pure

Registered number: 11467938

SALON GRAND LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

SALON GRAND LIMITED

REGISTERED NUMBER: 11467938

STATEMENT OF FINANCIAL POSITION

AS AT 31 OCTOBER 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	40,561		13,214
Cash at bank and in hand	5	26,090		7,058
		66,651		20,272
Creditors: amounts falling due within one year	6	(53,727)		(27,947)
Net current assets/(liabilities)			12,924		(7,675)
Total assets less current liabilities			12,924		(7,675)
Creditors: amounts falling due after more than one year	7		(41,294)		-

Net liabilities			(28,370)		(7,675)

Capital and reserves
Called up share capital	2	2
Profit and loss account	(28,372)	(7,677)
	(28,370)	(7,675)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

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SALON GRAND LIMITED

REGISTERED NUMBER: 11467938

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 OCTOBER 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 October 2022.

N Taussig

Director

The notes on pages 3 to 5 form part of these financial statements.

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SALON GRAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

1.	General information

Salon Grand Limited is a private company limited by shares and registered in England & Wales. The address of its registered office is 124 Finchley Road, London, NW3 5JS and its principal place of business is 26a North Street, London, SW4 0HB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue comprises distribution revenue receivable and is recognised in the Statement of Income and Retained Earnings in the period it is contractually due.
Where revenue received exceeds costs incurred to date and profits are not anticipated, the balance is treated as deferred income and held on the Statement of Financial Position until further costs are incurred or profits anticipated. At this point the deferred income is released to the Statement of Income and Retained Earnings.

2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
The Company is eligible to claim a tax credit on film production costs; the tax credit comprises relief based on total net costs and an additional deduction for enhanceable expenditure. The Company claims a payment based on the amount of enhanced expenditure and carries losses arising from total net costs forward against future profits.

2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7

Creditors

Short term creditors are measured at the transaction price, less any impairment.

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SALON GRAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

2.Accounting policies (continued)

2.8

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 debtors and creditors, loans from other third parties and loans to related parties.

Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Debtors

					2021	2020
					£	£


Other debtors	40,561	13,214
	40,561	13,214

5.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	26,090	7,058
	26,090	7,058

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank loans	8,706	-
Trade creditors	1,305	1,545
Other creditors	37,116	22,102
Accruals and deferred income	6,600	4,300
	53,727	27,947

Creditors include a fixed and floating charge over the assets of the company.

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SALON GRAND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2021

7.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Bank loans	41,294	-
	41,294	-

Amounts falling due within one year
Bank loans	8,706	-
	8,706	-
Amounts falling due 1-2 years
Bank loans	9,727	-
	9,727	-
Amounts falling due 2-5 years
Bank loans	30,682	-
	30,682	-
Amounts falling due after more than 5 years
Bank loans	885	-
	885	-
	50,000	-

9.	Controlling party

Throughout the period the company was under the control of the directors by virtue of their shareholding.

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