01 December 2020 30 November 2021 No principle activity is included 11076178 2020-12-01 11076178 2021-11-30 11076178 2020-12-01 2021-11-30 11076178 2020-11-30 11076178 2019-12-01 2020-11-30 11076178 uk-core:WithinOneYear 2021-11-30 11076178 uk-core:WithinOneYear 2020-11-30 11076178 uk-core:ShareCapital 2021-11-30 11076178 uk-core:ShareCapital 2020-11-30 11076178 uk-core:RetainedEarningsAccumulatedLosses 2021-11-30 11076178 uk-core:RetainedEarningsAccumulatedLosses 2020-11-30 11076178 uk-bus:Director1 2020-12-01 2021-11-30 11076178 uk-bus:RegisteredOffice 2020-12-01 2021-11-30 11076178 uk-curr:PoundSterling 2020-12-01 2021-11-30 11076178 uk-core:PlantMachinery 2020-12-01 2021-11-30 11076178 uk-core:Vehicles 2020-12-01 2021-11-30 11076178 uk-core:FurnitureFittings 2020-12-01 2021-11-30 11076178 uk-core:OfficeEquipment 2020-12-01 2021-11-30 11076178 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2020-11-30 11076178 uk-core:LandBuildings uk-core:OwnedOrFreeholdAssets 2021-11-30 11076178 uk-bus:FRS102 2020-12-01 2021-11-30 11076178 uk-bus:FullAccounts 2020-12-01 2021-11-30 11076178 uk-bus:AuditExempt-NoAccountantsReport 2020-12-01 2021-11-30 11076178 uk-bus:PrivateLimitedCompanyLtd 2020-12-01 2021-11-30 iso4217:GBP xbrli:pure
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  NEW LOOK BARBER LTD
   
   
   
  UNAUDITED FINANCIAL STATEMENTS
   
   
  FOR THE YEAR ENDED 30 NOVEMBER 2021
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
  NEW LOOK BARBER LTD
  FINANCIAL STATEMENTS
  FOR THE YEAR ENDED 30 NOVEMBER 2021
       
       
  DIRECTORS
       
  O Ali
       
       
  REGISTERED OFFICE
       
  20 East Reach
Taunton
TA1 3EP
       
       
  COMPANY REGISTERED NUMBER
       
  11076178
       
       
  BANKERS
       
  Lloyds Bank
       
       
  ACCOUNTANTS
       
  Adam House
  Chartered Accountants
  123 Fishponds Road
Bristol
BS5 6PR
       
       
  CONTENTS
       
  Pages
       
       
  2 Statement of Financial Position  
       
       
  3-6 Notes to the Financial Statements  
       
     
  page 1
  NEW LOOK BARBER LTD
  Company registered number: 11076178
  STATEMENT OF FINANCIAL POSITION AT 30 November 2021
           
    Note 2021 2020
      £ £ £
  FIXED ASSETS
  Property, plant and equipment 3 57,500 57,500
  CURRENT ASSETS    
  Cash at bank and in hand   18,202 16,208
      18,202 16,208
  CREDITORS: Amounts falling due within one year 4 45,149 54,513
  NET CURRENT LIABILITIES   (26,947) (38,305)
  NET ASSETS   £30,553 £19,195
       
  CAPITAL AND RESERVES
  Called up share capital   2 2
  Retained earnings   30,551 19,193
  SHAREHOLDERS' FUNDS   £30,553 £19,195
       
       
       
  In approving these financial statements as directors of the company we hereby confirm the following:
       
  For the year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
       
  The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with section 476 of the Companies Act 2006.
       
  The directors acknowledge their responsibilities for: 1) ensuring that the company keeps accounting records which comply with Sections 386 and 386 of the Companies Act 2006, and 2) preparing financial statements that give a true and fair view of the state of affairs of the company at at the end of each financial year and of its profit or loss for the 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 the financial statements, so far as they are applicable to the company.
 
 
  These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies
       
  In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
       
  The financial statements were approved and authorised for issue by the board of directors on 17 August 2022
 
  Signed on behalf of the board of directors
 
 
       
  O Ali, Director
       
       
  The notes on pages 3-6 form part of these financial statements
   
  page 2
  NEW LOOK BARBER LTD
  NOTES TO THE ACCOUNTS
  FOR THE YEAR ENDED 30 NOVEMBER 2021
       
 
1. SIGNIFICANT ACCOUNTING POLICIES
       
         
1a. Statement of compliance
         
  New Look Barber Ltd is a private limited company and incorporated in England and Wales..
         
  Registered office:
  20 East Reach
Taunton
TA1 3EP
  These financial statements are the first financial statements that comply with FRS 102. The date of transition is 1 December 2020.
         
  The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in notes and below. These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
         
 
         
  Basis of accounting
         
 
  The financial statements have been prepared under the historical cost convention. The presentation currency is £ sterling.
         
1c. Revenue recognition
         
  Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
         
1d. Borrowing costs
         
  Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. Investment income earned on the temporary investment of specific borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
         
 
         
1e. Taxation
         
         
  Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
  The notes on pages 3-6 form part of these financial statements
   
  page 3
  NEW LOOK BARBER LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 NOVEMBER 2021
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
       
1f. Property, plant and equipment
       
  Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life.
       
  Plant and machinery Reducing balance 25%  
  Vehicles Reducing balance 25%  
  Fixtures and fittings Reducing balance 15%  
  Equipment Reducing balance 15%  
         
1g. Inventories
         
  Stocks are stated at the lower of cost and net realisable value. Cost includes all costs incurred in bringing each product to its present location and condition.
         
         
1h. Short term debtors and creditors
         
  Debtors and creditors receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in profit and loss.
         
         
1i. Cash and cash equivalents
         
  Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. For the purpose of statement of cash flows, bank overdrafts which are repayable on demand form an integral part of the Company's cash management are included as a component of cash and cash equivalents.
         
 
         
1j. Interest bearing borrowings
         
  All interest-bearing loans and borrowings which are basic financial instruments are initially recognised at the present value of cash payable to the bank (including interest). After initial recognition they are measured at amortised cost using the effective interest rate method, less impairment. Any difference between the amount initially recognised and redemption value is recognised in profit and loss together with any interest and fees payable.
         
         
1k. Leased assets
         
  Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the Company are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful life. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges in the income statement so as to achieve a constant rate of interest on the remaining balance of the liability. Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term. Lease incentives are recognised over the lease term on a straight line basis.
         
 
         
  The notes on pages 3-6 form part of these financial statements
   
  page 4
  NEW LOOK BARBER LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 NOVEMBER 2021
       
 
1. SIGNIFICANT ACCOUNTING POLICIES (CONT.)
         
1l. Foreign currencies
         
  Transactions in foreign currencies are initially recorded in the entity’s functional currency by applying the spot exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
         
         
1m. Employee benefits
         
  The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the Company in an independent administered fund.
         
         
1n. Discontinued operations
         
  A discontinued operation is a component of the Company's business, the operations and cash flows of which can be clearly distinguished from the rest of the Company and which represents a separate major line of business or geographical area of operations, or is part of a signal coordinated disposal of a separate major line of business or geographical area of operations, or is a subsidiary acquired exclusively with a review to resale.
         
         
1o. Provisions
         
  Provisions are recognised when the Company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
         
         
1p. Judgements and key sources of estimation uncertainty
         
  In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
         
 
         
 
         
  The notes on pages 3-6 form part of these financial statements
   
  page 5
  NEW LOOK BARBER LTD
  NOTES TO THE ACCOUNTS (CONT.)
  FOR THE YEAR ENDED 30 NOVEMBER 2021
       
       
2. DIRECTORS AND EMPLOYEES
       
  The average weekly number of employees during the year were as follows:
    2021 2020
    No. No.
  Management and administration 1 2
  Production and sales 2 1
    3 3
   
       
3. PROPERTY, PLANT AND EQUIPMENT
       
    Freehold Total
    £ £
  Cost
       
  At 1 December 2020 57,500 57,500
       
  At 30 November 2021 57,500 57,500
   
  Depreciation
       
  At 30 November 2021 - -
   
  Net Book Amounts
       
  At 30 November 2021 £57,500 £57,500
  At 30 November 2020 £57,500 £57,500
   
       
       
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
    2021 2020
    £ £
  Bank loans and overdrafts - 6,000
  Corporation tax 3,764 5,516
  Other creditors 40,635 42,247
  Accruals and deferred income 750 750
    £45,149 £54,513
   
       
  The notes on pages 3-6 form part of these financial statements
   
  page 6