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REGISTERED NUMBER: 04836503 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

SYSUMS FOR HAIR LIMITED

SYSUMS FOR HAIR LIMITED (REGISTERED NUMBER: 04836503)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SYSUMS FOR HAIR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr T W Sysum
Mrs L Sysum
Mr C Sysum





SECRETARY: Mrs L Sysum





REGISTERED OFFICE: 4 Brisbane
Stonehouse
Gloucestershire
GL10 2PX





REGISTERED NUMBER: 04836503 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

SYSUMS FOR HAIR LIMITED (REGISTERED NUMBER: 04836503)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 32,744 36,217
32,744 36,217

CURRENT ASSETS
Stocks 1,556 1,625
Debtors 6 65,266 37,120
Cash at bank and in hand 1,682 20,209
68,504 58,954
CREDITORS
Amounts falling due within one year 7 71,134 56,784
NET CURRENT (LIABILITIES)/ASSETS (2,630 ) 2,170
TOTAL ASSETS LESS CURRENT
LIABILITIES

30,114

38,387

CREDITORS
Amounts falling due after more than one
year

8

(26,618

)

(36,204

)

PROVISIONS FOR LIABILITIES (2,063 ) (2,036 )
NET ASSETS 1,433 147

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 1,330 44
SHAREHOLDERS' FUNDS 1,433 147

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

SYSUMS FOR HAIR LIMITED (REGISTERED NUMBER: 04836503)

BALANCE SHEET - continued
31 MARCH 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:




Mr T W Sysum - Director Mrs L Sysum - Director




Mr C Sysum - Director


SYSUMS FOR HAIR LIMITED (REGISTERED NUMBER: 04836503)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Sysums For Hair 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

Accounting convention
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 represents net sales of hairdressing services to clients, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised over its useful life of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Tenants' improvements - 10% on cost
Furniture, fixtures, equipment - 20% on reducing balance

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

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

SYSUMS FOR HAIR LIMITED (REGISTERED NUMBER: 04836503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The directors have considered the risks and issues concerning the company and it's activities and there are no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern that have been identified by the directors.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 12,500
AMORTISATION
At 1 April 2022
and 31 March 2023 12,500
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Furniture,
Tenants' fixtures,
improvements equipment Totals
£    £    £   
COST
At 1 April 2022 50,786 48,091 98,877
Additions - 2,745 2,745
At 31 March 2023 50,786 50,836 101,622
DEPRECIATION
At 1 April 2022 25,283 37,377 62,660
Charge for year 3,618 2,600 6,218
At 31 March 2023 28,901 39,977 68,878
NET BOOK VALUE
At 31 March 2023 21,885 10,859 32,744
At 31 March 2022 25,503 10,714 36,217

SYSUMS FOR HAIR LIMITED (REGISTERED NUMBER: 04836503)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 20,030 10,754
Directors' loan accounts 43,156 20,627
Prepayments 2,080 5,739
65,266 37,120

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 33,079 10,648
Trade creditors 7,799 287
Corporation Tax 10,897 12,214
Social security and other taxes 5,158 4,024
Pensions Payable 1,046 553
VAT 12,988 28,494
Other creditors 167 137
Accrued expenses - 427
71,134 56,784

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 26,618 36,204

9. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£    £   
Mr T W Sysum and Mrs L Sysum
Balance outstanding at start of year 9,482 (4,359 )
Amounts advanced 28,446 25,421
Amounts repaid (9,711 ) (11,580 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 28,217 9,482

Mr C Sysum
Balance outstanding at start of year 11,146 1,336
Amounts advanced 13,295 14,977
Amounts repaid (9,500 ) (5,167 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,941 11,146

No interest was charged on the loans and there are no set repayment terms.