Company Registration No. 11239622 (England and Wales)
INKONHAIR CLINIC LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
INKONHAIR CLINIC LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
INKONHAIR CLINIC LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
11,554
15,405
Investments
4
4,200
4,400
15,754
19,805
Current assets
Debtors
5
4,067
1,085
Cash at bank and in hand
6,628
41,118
10,695
42,203
Creditors: amounts falling due within one year
6
(15,809)
(51,866)
Net current liabilities
(5,114)
(9,663)
Total assets less current liabilities
10,640
10,142
Creditors: amounts falling due after more than one year
7
(3,590)
(5,182)
Provisions for liabilities
(2,043)
(2,813)
Net assets
5,007
2,147
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
5,006
2,146
Total equity
5,007
2,147
INKONHAIR CLINIC LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 13 October 2023
Mr T May
Director
Company Registration No. 11239622
The notes on pages 4 to 7 form part of these financial statements
INKONHAIR CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
1
Accounting policies
Company information
Inkonhair Clinic Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30-31 St James Place, Mangotsfield, Bristol, South Glos., England, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
1.4
Fixed asset investments
Investments are initially measured at cost and subsequently revalued to market value at each reporting date.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
INKONHAIR CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
INKONHAIR CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 and 31 March 2023
32,869
Depreciation
At 1 April 2022
17,464
Depreciation charged in the year
3,851
At 31 March 2023
21,315
Carrying amount
At 31 March 2023
11,554
At 31 March 2022
15,405
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
4,200
4,400
The historic cost of the investment was £5,000.
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2022
4,400
Valuation changes
(200)
At 31 March 2023
4,200
Carrying amount
At 31 March 2023
4,200
At 31 March 2022
4,400
INKONHAIR CLINIC LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
3,650
652
Prepayments and accrued income
417
433
4,067
1,085
Within other debtors is a balance of £3,000 due from Inkon Training Limited, a company under common control.
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,592
1,553
Trade creditors
150
Taxation and social security
4,956
7,312
Other creditors
9,111
43,001
15,809
51,866
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
3,590
5,182