SGB Hairdressing Limited 08941712 false 2022-01-01 2022-12-31 2022-12-31 The principal activity of the company is is that of hairdressing and other beauty treatments Digita Accounts Production Advanced 6.30.9574.0 true true 08941712 2022-01-01 2022-12-31 08941712 2022-12-31 08941712 bus:OrdinaryShareClass1 2022-12-31 08941712 core:CurrentFinancialInstruments 2022-12-31 08941712 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 08941712 core:FurnitureFittingsToolsEquipment 2022-12-31 08941712 bus:SmallEntities 2022-01-01 2022-12-31 08941712 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 08941712 bus:FullAccounts 2022-01-01 2022-12-31 08941712 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 08941712 bus:RegisteredOffice 2022-01-01 2022-12-31 08941712 bus:Director1 2022-01-01 2022-12-31 08941712 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 08941712 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08941712 core:FurnitureFittings 2022-01-01 2022-12-31 08941712 core:FurnitureFittingsToolsEquipment 2022-01-01 2022-12-31 08941712 countries:EnglandWales 2022-01-01 2022-12-31 08941712 2021-12-31 08941712 core:FurnitureFittingsToolsEquipment 2021-12-31 08941712 2021-01-01 2021-12-31 08941712 2021-12-31 08941712 bus:OrdinaryShareClass1 2021-12-31 08941712 core:CurrentFinancialInstruments 2021-12-31 08941712 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 08941712 core:FurnitureFittingsToolsEquipment 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08941712

SGB Hairdressing Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2022

 

SGB Hairdressing Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

SGB Hairdressing Limited

(Registration number: 08941712)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

12,558

11,436

Current assets

 

Stocks

5

26,203

29,743

Debtors

99

412

Cash at bank and in hand

 

6,998

13,341

 

33,300

43,496

Creditors: Amounts falling due within one year

6

(42,968)

(55,199)

Net current liabilities

 

(9,668)

(11,703)

Net assets/(liabilities)

 

2,890

(267)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

2,889

(268)

Shareholders' funds/(deficit)

 

2,890

(267)

For the financial year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2023
 

 

SGB Hairdressing Limited

(Registration number: 08941712)
Balance Sheet as at 31 December 2022

.........................................
Mr Sam Gorman
Director

 

SGB Hairdressing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Smithdown Place
Liverpool
Merseyside
L15 9EH

These financial statements were authorised for issue by the director on 29 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

SGB Hairdressing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

SGB Hairdressing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2021 - 3).

 

SGB Hairdressing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2022

58,181

58,181

Additions

5,308

5,308

At 31 December 2022

63,489

63,489

Depreciation

At 1 January 2022

46,745

46,745

Charge for the year

4,186

4,186

At 31 December 2022

50,931

50,931

Carrying amount

At 31 December 2022

12,558

12,558

At 31 December 2021

11,436

11,436

5

Stocks

2022
£

2021
£

Other inventories

26,203

29,743

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

11,633

17,515

Taxation and social security

 

339

127

Accruals and deferred income

 

5,730

3,700

Other creditors

 

25,266

33,857

 

42,968

55,199

 

SGB Hairdressing Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

         

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

11,633

17,515