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REGISTERED NUMBER: 06468315 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Melanie Giles Hairdressing Limited

Melanie Giles Hairdressing Limited (Registered number: 06468315)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Melanie Giles Hairdressing Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mrs M Calver





SECRETARY: T Calver





REGISTERED OFFICE: 59 Walcot Street
Bath
United Kingdom
BA1 5BN





REGISTERED NUMBER: 06468315 (England and Wales)





ACCOUNTANTS: SO Accounting Limited
Chartered Accountants
2 Harris Close
Frome
Somerset
BA11 5JY

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,414,430 1,438,267
Investment property 5 350,000 350,000
1,764,430 1,788,267

CURRENT ASSETS
Stocks 31,350 28,500
Debtors 6 7,817 4,829
Cash at bank and in hand 9,431 92,651
48,598 125,980
CREDITORS
Amounts falling due within one year 7 392,364 424,669
NET CURRENT LIABILITIES (343,766 ) (298,689 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,420,664

1,489,578

CREDITORS
Amounts falling due after more than
one year

8

(565,423

)

(647,390

)

PROVISIONS FOR LIABILITIES 11 (2,424 ) (2,330 )
NET ASSETS 852,817 839,858

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Balance Sheet - continued
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 852,717 839,758
SHAREHOLDERS' FUNDS 852,817 839,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

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 2 October 2023 and were signed by:





Mrs M Calver - Director


Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Melanie Giles 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Freehold property improvements - 10% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

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.

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 44 (2022 - 63 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 1,647,009 276,973 1,923,982
Additions - 4,063 4,063
At 31 January 2023 1,647,009 281,036 1,928,045
DEPRECIATION
At 1 February 2022 236,103 249,612 485,715
Charge for year 21,614 6,286 27,900
At 31 January 2023 257,717 255,898 513,615
NET BOOK VALUE
At 31 January 2023 1,389,292 25,138 1,414,430
At 31 January 2022 1,410,906 27,361 1,438,267

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 350,000
NET BOOK VALUE
At 31 January 2023 350,000
At 31 January 2022 350,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 7,817 4,829

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts (see note 9)
143,253

173,106
Trade creditors 31,779 15,065
Amounts owed to group undertakings 20,209 12,797
Taxation and social security 115,118 103,442
Other creditors 82,005 120,259
392,364 424,669

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans (see note 9) 565,423 647,390

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 138,732 265,530

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. LOANS

An analysis of the maturity of loans is given below:

31.1.23 31.1.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 46,485 56,686
Bank loans 96,768 116,420
Other loans 13,000 47,292
156,253 220,398

Amounts falling due between one and two years:
Bank loans - 1-2 years 69,788 116,420

Amounts falling due between two and five years:
Bank loans - 2-5 years 356,903 265,440

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 138,732 265,530

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank overdrafts 46,485 56,686
Bank loans 662,191 763,810
708,676 820,496

There are fixed and floating charges over the properties included in fixed assets.

In addition there is a debenture of fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

11. PROVISIONS FOR LIABILITIES
31.1.23 31.1.22
£    £   
Deferred tax 2,424 2,330

Deferred
tax
£   
Balance at 1 February 2022 2,330
Charge to Income Statement during year 94
Balance at 31 January 2023 2,424

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary 1 100 100

13. RELATED PARTY DISCLOSURES

The following amounts were owed by the company to related parties as at 31st January 2023;

Mr & Mrs Calver £13,000.00

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs M Calver.