Company Registration No. 05703536 (England and Wales)
STRANDED HAIR GROUP LIMITED
Unaudited accounts
for the year ended 28 February 2023
STRANDED HAIR GROUP LIMITED
Unaudited accounts
Contents
STRANDED HAIR GROUP LIMITED
Company Information
for the year ended 28 February 2023
Company Number
05703536 (England and Wales)
Registered Office
Unit 4a Towngate Business Centre
Walkden
Manchester
England
M38 0PT
Accountants
Annette & Co.
28 Kittlegairy Crescent
Peebles
EH45 9NJ
STRANDED HAIR GROUP LIMITED
Statement of financial position
as at 28 February 2023
Tangible assets
22,676
25,315
Inventories
504,844
334,799
Cash at bank and in hand
25,151
103,344
Creditors: amounts falling due within one year
(22,518)
(18,691)
Net current assets
677,721
563,084
Total assets less current liabilities
700,398
590,526
Creditors: amounts falling due after more than one year
(35,000)
(45,006)
Net assets
665,398
545,520
Called up share capital
2
2
Profit and loss account
665,396
545,518
Shareholders' funds
665,398
545,520
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 October 2023 and were signed on its behalf by
Gary Howe
Director
Company Registration No. 05703536
STRANDED HAIR GROUP LIMITED
Notes to the Accounts
for the year ended 28 February 2023
STRANDED HAIR GROUP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05703536. The registered office is Unit 4a Towngate Business Centre, Walkden, Manchester, England, M38 0PT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% as per Straight Line Method
Fixtures & fittings
25% as per Reducing Balance Method
Computer equipment
25% as per Straight Line Method
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
STRANDED HAIR GROUP LIMITED
Notes to the Accounts
for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill
Other
Total
At 1 March 2022
286,932
21,264
308,196
At 28 February 2023
286,932
21,264
308,196
At 1 March 2022
286,932
19,137
306,069
Charge for the year
-
2,126
2,126
At 28 February 2023
286,932
21,263
308,195
At 28 February 2022
-
2,127
2,127
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
22,176
154,357
4,177
180,710
Additions
-
4,571
350
4,921
At 28 February 2023
22,176
158,928
4,527
185,631
At 1 March 2022
22,176
130,488
2,731
155,395
Charge for the year
-
6,497
1,063
7,560
At 28 February 2023
22,176
136,985
3,794
162,955
At 28 February 2023
-
21,943
733
22,676
At 28 February 2022
-
23,869
1,446
25,315
Amounts falling due within one year
Trade debtors
129,816
110,089
Accrued income and prepayments
405
13,183
Other debtors
13,532
9,147
STRANDED HAIR GROUP LIMITED
Notes to the Accounts
for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
12,628
11,983
Amounts owed to group undertakings and other participating interests
121
121
Taxes and social security
1,147
(430)
Other creditors
8,426
4,180
Loans from directors
196
1,237
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
1 Gary Howe of £1 each
1
1
1 Emma Howe of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 5 (2022: 5).