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TEAL HAIR LIMITED
T/A
TEAL HAIR

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023






TEAL HAIR LIMITED (REGISTERED NUMBER: 10240167)
T/A TEAL HAIR






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TEAL HAIR LIMITED
T/A TEAL HAIR

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTOR: S Williams





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 10240167 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

TEAL HAIR LIMITED (REGISTERED NUMBER: 10240167)
T/A TEAL HAIR

BALANCE SHEET
30TH JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 54,432 70,617
54,432 70,617

CURRENT ASSETS
Stocks 3,317 750
Debtors 6 38,036 42,380
Cash at bank 35,243 18,041
76,596 61,171
CREDITORS
Amounts falling due within one year 7 53,980 58,877
NET CURRENT ASSETS 22,616 2,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

77,048

72,911

CREDITORS
Amounts falling due after more than one
year

8

419,117

417,860
NET LIABILITIES (342,069 ) (344,949 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (342,070 ) (344,950 )
(342,069 ) (344,949 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

TEAL HAIR LIMITED (REGISTERED NUMBER: 10240167)
T/A TEAL HAIR

BALANCE SHEET - continued
30TH JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st August 2023 and were signed by:





S Williams - Director


TEAL HAIR LIMITED (REGISTERED NUMBER: 10240167)
T/A TEAL HAIR

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Teal 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

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.

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.

TEAL HAIR LIMITED (REGISTERED NUMBER: 10240167)
T/A TEAL HAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st July 2022
and 30th June 2023 95,000
AMORTISATION
At 1st July 2022
and 30th June 2023 95,000
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st July 2022 153,438 4,475 9,600 9,210 176,723
Additions - - - 356 356
At 30th June 2023 153,438 4,475 9,600 9,566 177,079
DEPRECIATION
At 1st July 2022 86,396 3,609 7,748 8,353 106,106
Charge for year 15,343 217 463 518 16,541
At 30th June 2023 101,739 3,826 8,211 8,871 122,647
NET BOOK VALUE
At 30th June 2023 51,699 649 1,389 695 54,432
At 30th June 2022 67,042 866 1,852 857 70,617

TEAL HAIR LIMITED (REGISTERED NUMBER: 10240167)
T/A TEAL HAIR

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors - 1,437
Other debtors 38,036 40,943
38,036 42,380

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts - 4,012
Trade creditors 44,768 47,565
Taxation and social security 5,085 5,100
Other creditors 4,127 2,200
53,980 58,877

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Other creditors 419,117 417,860

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank loans - 4,012

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £419,117 (2022 - £417,859) to S Williams, the director and shareholder of the company.