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REGISTERED NUMBER: 08296659 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2021

for

Stafford (T) Hairdressing Limited

Stafford (T) Hairdressing Limited (Registered number: 08296659)






Contents of the Financial Statements
for the Year Ended 31 August 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stafford (T) Hairdressing Limited

Company Information
for the Year Ended 31 August 2021







DIRECTORS: L D Brown
S D Stanley





REGISTERED OFFICE: Innovia House Marish Wharf
St Marys Road
Middlegreen
Slough
SL3 6DA





REGISTERED NUMBER: 08296659 (England and Wales)





ACCOUNTANTS: Styles & Associates Limited
Berkeley House
Amery Street
Alton
Hampshire
GU34 1HN

Stafford (T) Hairdressing Limited (Registered number: 08296659)

Balance Sheet
31 August 2021

31.8.21 31.8.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,541 3,934
Tangible assets 5 7,223 6,449
9,764 10,383

CURRENT ASSETS
Stocks 1,925 1,786
Debtors 6 10,885 8,722
Cash at bank and in hand 20,120 52,492
32,930 63,000
CREDITORS
Amounts falling due within one year 7 201,696 209,528
NET CURRENT LIABILITIES (168,766 ) (146,528 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(159,002

)

(136,145

)

CREDITORS
Amounts falling due after more than one
year

8

38,333

48,334
NET LIABILITIES (197,335 ) (184,479 )

CAPITAL AND RESERVES
Called up share capital 10 20,000 20,000
Retained earnings (217,335 ) (204,479 )
SHAREHOLDERS' FUNDS (197,335 ) (184,479 )

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

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

The directors acknowledge their 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.

Stafford (T) Hairdressing Limited (Registered number: 08296659)

Balance Sheet - continued
31 August 2021


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 Board of Directors and authorised for issue on 1 August 2022 and were signed on its behalf by:





L D Brown - Director


Stafford (T) Hairdressing Limited (Registered number: 08296659)

Notes to the Financial Statements
for the Year Ended 31 August 2021

1. STATUTORY INFORMATION

Stafford (T) Hairdressing 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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 represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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.

Franchise Costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

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.


Stafford (T) Hairdressing Limited (Registered number: 08296659)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The company meets its day to day working capital requirements through group funding and Mascolo Limited, the immediate parent company, who also provide ongoing support for the company in the form of extended supplier credits.
The directors consider that it is appropriate to prepare the financial statements on a going concern basis as they expect the company to be able to continue to trade within the facilities made available.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2020 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
Goodwill Costs Totals
£    £    £   
COST
At 1 September 2020
and 31 August 2021 71,000 6,966 77,966
AMORTISATION
At 1 September 2020 71,000 3,032 74,032
Amortisation for year - 1,393 1,393
At 31 August 2021 71,000 4,425 75,425
NET BOOK VALUE
At 31 August 2021 - 2,541 2,541
At 31 August 2020 - 3,934 3,934

Stafford (T) Hairdressing Limited (Registered number: 08296659)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2020 12,709
Additions 2,294
At 31 August 2021 15,003
DEPRECIATION
At 1 September 2020 6,260
Charge for year 1,520
At 31 August 2021 7,780
NET BOOK VALUE
At 31 August 2021 7,223
At 31 August 2020 6,449

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Trade debtors - 120
Other debtors 10,885 8,602
10,885 8,722

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Bank loans and overdrafts 10,000 1,667
Trade creditors 133,921 143,556
Amounts owed to associates 49,000 55,000
Taxation and social security (2,008 ) 7,583
Other creditors 10,783 1,722
201,696 209,528

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.21 31.8.20
£    £   
Bank loans 38,333 48,334

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,334

Stafford (T) Hairdressing Limited (Registered number: 08296659)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2021

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.21 31.8.20
£    £   
Within one year 30,987 30,987
Between one and five years 22,680 50,680
53,667 81,667

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.21 31.8.20
value: £    £   
20,000 Ordinary £1 20,000 20,000

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2021 and 31 August 2020:

31.8.21 31.8.20
£    £   
L D Brown
Balance outstanding at start of year 603 564
Amounts advanced - 39
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 603 603

At the year end, the director owed the company £602 (2020: £602).

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.