Registered number
04889102
NO. 10 HAIRDESIGN LTD
Unaudited Filleted Accounts
31 March 2023
NO. 10 HAIRDESIGN LTD
Registered number: 04889102
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 186 232
Current assets
Stocks 1,000 1,000
Debtors 5 (434) 343
Cash at bank and in hand 18,740 17,224
19,306 18,567
Creditors: amounts falling due within one year 6 (5,726) (8,611)
Net current assets 13,580 9,956
Total assets less current liabilities 13,766 10,188
Provisions for liabilities - (44)
Net assets 13,766 10,144
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 12,766 9,144
Shareholder's funds 13,766 10,144
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the board on 2 October 2023
S J Clark
Director
NO. 10 HAIRDESIGN LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the fair value of the consideration received or receivable, net of discounts and value added taxes for the sale of goods and services provided to customers.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Coronavirus Job Retention Scheme and other Government grants
Amounts received from central Government, local Government and other Government agencies are included in Other operating income on an accruals basis.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 4
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2022 35,000
Additions (35,000)
Disposals 35,000
At 31 March 2023 35,000
Amortisation
At 1 April 2022 35,000
At 31 March 2023 35,000
Net book value
At 31 March 2023 -
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 2,781
Disposals (1,900)
At 31 March 2023 881
Depreciation
At 1 April 2022 2,549
Charge for the year 46
On disposals (1,900)
At 31 March 2023 695
Net book value
At 31 March 2023 186
At 31 March 2022 232
5 Debtors 2023 2022
£ £
Other debtors (434) 343
6 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 4,756 6,989
Other creditors 970 1,622
5,726 8,611
7 Events after the reporting date
There were no significant events since the balance sheet date that in the opinion of the director would effect these accounts.
8 Related party transactions
The company paid dividends of £16,650 (2022 - £44,400) to S J Clark, the sole director. The company also paid £8,400 to S J Clark for rent of the business premises.
9 Other information
NO. 10 HAIRDESIGN LTD is a private company limited by shares and incorporated in England. Its registered office is:
10 High Street
West Wickham
Kent
BR4 0NJ
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