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REGISTERED NUMBER: 10688777 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2021

for

Worcester (T2) Hairdressing Limited

Worcester (T2) Hairdressing Limited (Registered number: 10688777)






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


Worcester (T2) Hairdressing Limited

Company Information
for the Year Ended 31 August 2021







DIRECTORS: S P Hurley
C M Hurley





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





REGISTERED NUMBER: 10688777 (England and Wales)





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

Worcester (T2) Hairdressing Limited (Registered number: 10688777)

Balance Sheet
31 August 2021

31.8.21 31.8.20
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,411 20,927
Tangible assets 5 3,021 3,156
11,432 24,083

CURRENT ASSETS
Stocks 1,466 1,099
Debtors 6 17,312 14,490
Cash at bank and in hand 56,944 29,390
75,722 44,979
CREDITORS
Amounts falling due within one year 7 43,567 58,843
NET CURRENT ASSETS/(LIABILITIES) 32,155 (13,864 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

43,587

10,219

CREDITORS
Amounts falling due after more than one
year

8

(37,500

)

(23,750

)

PROVISIONS FOR LIABILITIES (574 ) (28 )
NET ASSETS/(LIABILITIES) 5,513 (13,559 )

CAPITAL AND RESERVES
Called up share capital 11 10,000 10,000
Retained earnings (4,487 ) (23,559 )
SHAREHOLDERS' FUNDS 5,513 (13,559 )

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.

Worcester (T2) Hairdressing Limited (Registered number: 10688777)

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 3 August 2022 and were signed on its behalf by:




S P Hurley - Director



C M Hurley - Director


Worcester (T2) Hairdressing Limited (Registered number: 10688777)

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

1. STATUTORY INFORMATION

Worcester (T2) 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 2017, 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 five years.

Franchise costs
Franchise costs are valued at cost less accumulated amortisation. Amortisation is calculated to write off the costs in equal instalments over the franchise period.

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
Computer equipment - 33% on cost

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.


Worcester (T2) Hairdressing Limited (Registered number: 10688777)

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
Goodwill Costs Totals
£    £    £   
COST
At 1 September 2020
and 31 August 2021 50,000 12,580 62,580
AMORTISATION
At 1 September 2020 33,333 8,320 41,653
Amortisation for year 10,000 2,516 12,516
At 31 August 2021 43,333 10,836 54,169
NET BOOK VALUE
At 31 August 2021 6,667 1,744 8,411
At 31 August 2020 16,667 4,260 20,927

Worcester (T2) Hairdressing Limited (Registered number: 10688777)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2020 4,404 362 4,766
Additions 645 - 645
At 31 August 2021 5,049 362 5,411
DEPRECIATION
At 1 September 2020 1,590 20 1,610
Charge for year 660 120 780
At 31 August 2021 2,250 140 2,390
NET BOOK VALUE
At 31 August 2021 2,799 222 3,021
At 31 August 2020 2,814 342 3,156

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Other debtors 17,312 14,490

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.21 31.8.20
£    £   
Bank loans and overdrafts 10,500 11,250
Trade creditors (1,445 ) 15,320
Taxation and social security 18,322 13,419
Other creditors 16,190 18,854
43,567 58,843

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.21 31.8.20
£    £   
Bank loans 37,500 23,750

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 3,750

Worcester (T2) Hairdressing Limited (Registered number: 10688777)

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 20,200 20,200
Between one and five years 80,800 80,800
In more than five years 14,140 34,340
115,140 135,340

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.21 31.8.20
£    £   
Bank loans 48,000 35,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.21 31.8.20
value: £    £   
10,000 Ordinary £1 10,000 10,000

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31.8.21 31.8.20
£    £   
C M Hurley
Balance outstanding at start of year 165 (10 )
Amounts advanced 1,112 1,605
Amounts repaid (1,934 ) (1,430 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (657 ) 165

S P Hurley
Balance outstanding at start of year - -
Amounts advanced 1,988 -
Amounts repaid (6 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,982 -

At the year end, the directors owed the company £1,326 (2020: (£165).

13. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.