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REGISTERED NUMBER: 07970129 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2022

for

Escape The Hair Studio Limited

Escape The Hair Studio Limited (Registered number: 07970129)






Contents of the Financial Statements
for the Year Ended 31 March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Escape The Hair Studio Limited

Company Information
for the Year Ended 31 March 2022







DIRECTOR: Miss N Y Bickley





SECRETARY: G D Bickley





REGISTERED OFFICE: 21 Lea Vale Road
Stourbridge
West Midlands
DY8 2AZ





REGISTERED NUMBER: 07970129 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Escape The Hair Studio Limited (Registered number: 07970129)

Balance Sheet
31 March 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 12,800 13,600
Tangible assets 5 542 737
13,342 14,337

CURRENT ASSETS
Stocks 2,383 4,082
Debtors 6 225 153
Cash at bank and in hand 14,480 49,200
17,088 53,435
CREDITORS
Amounts falling due within one year 7 23,410 44,796
NET CURRENT (LIABILITIES)/ASSETS (6,322 ) 8,639
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,020

22,976

CREDITORS
Amounts falling due after more than one
year

8

-

(26,500

)

PROVISIONS FOR LIABILITIES 10 (103 ) -
NET ASSETS/(LIABILITIES) 6,917 (3,524 )

CAPITAL AND RESERVES
Called up share capital 11 60 60
Retained earnings 6,857 (3,584 )
SHAREHOLDERS' FUNDS 6,917 (3,524 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Escape The Hair Studio Limited (Registered number: 07970129)

Balance Sheet - continued
31 March 2022


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 director and authorised for issue on 12 September 2022 and were signed by:





Miss N Y Bickley - Director


Escape The Hair Studio Limited (Registered number: 07970129)

Notes to the Financial Statements
for the Year Ended 31 March 2022

1. STATUTORY INFORMATION

Escape The Hair Studio 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 (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Office equipment - 33% on reducing balance

Government grants
Government grants are recognised at their fair value received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised using the accruals model and where relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate. Grants including business rates relief funding and JRS furlough grants, that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs, are recognised as income for the period in which they become receivable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Escape The Hair Studio Limited (Registered number: 07970129)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

2. ACCOUNTING POLICIES - continued
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.

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 5 (2021 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 20,000
AMORTISATION
At 1 April 2021 6,400
Charge for year 800
At 31 March 2022 7,200
NET BOOK VALUE
At 31 March 2022 12,800
At 31 March 2021 13,600

Escape The Hair Studio Limited (Registered number: 07970129)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2021
and 31 March 2022 6,699 920 7,619
DEPRECIATION
At 1 April 2021 6,083 799 6,882
Charge for year 155 40 195
At 31 March 2022 6,238 839 7,077
NET BOOK VALUE
At 31 March 2022 461 81 542
At 31 March 2021 616 121 737

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Other debtors 225 153

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts - 3,500
Trade creditors 522 157
Taxation and social security 4,691 83
Other creditors 18,197 41,056
23,410 44,796

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans - 26,500

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.22 31.3.21
£    £   
Within one year 14,850 14,850
Between one and five years 14,850 29,700
29,700 44,550

Escape The Hair Studio Limited (Registered number: 07970129)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2022

10. PROVISIONS FOR LIABILITIES
31.3.22 31.3.21
£    £   
Deferred tax 103 -

Deferred
tax
£   
Provided during year 103
Balance at 31 March 2022 103

11. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.3.22 31.3.21
value: £    £   
60 Ordinary £1 60 60

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss N Y Bickley.