Tag Hair Limited


FINANCIAL STATEMENTS


for the year ended 30th April 2023



Tag Hair Limited

CONTENTS

for the year ended 30th April 2023







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

Tag Hair Limited

Company No. 08047950

STATEMENT OF FINANCIAL POSITION

as at 30th April 2023

20232022
Note£££
FIXED ASSETS
Property, plant and equipment51057310573
1057310573
CURRENT ASSETS
Stocks614251165
Debtors75549942771
Cash at bank and in hand323439182
6015883118
CURRENT LIABILITIES
Creditors: amounts falling due
within one year84606958307
NET CURRENT ASSETS1408924811
TOTAL ASSETS LESS CURRENT LIABILITIES2466235384
 
Creditors: amounts falling due
after more than one year92416734167
 
NET ASSETS4951217
 
CAPITAL AND RESERVES
Called up share capital103103
Retained earnings3921114
SHAREHOLDERS FUNDS4951217

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 30th April 2023 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the Board on 26 October 2023


J M Parsons

Director

Company Number 08047950 (England)

Tag Hair Limited

NOTES TO THE ACCOUNTS

for the year ended 30th April 2023


1   Statutory information

Tag Hair Limited is a private company limited by shares and registered under company number 08047950 in England. Its registered office address is 12,Hatherley Road,Sidcup,Kent,DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles20-25% reducing balance

Stocks

Stocks are valued at the lower of cost and expected selling price less any costs to sell.

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pensions

The Company operates a defined contribution pension scheme. Contributions are charged to the Income Statement as they become payable in accordance with the rules of the scheme.

3   Employee information

The average number of employees during the accounting period was 9 (2022 - 11).

4   Intangible assets
£
Cost
At 1st May 2022 and
At 30th April 202333000
 
Amortisation
At 1st May 2022 and
At 30th April 202333000
 
Net Book Value
At 30th April 2023-
At 30th April 2022-

Intangible Fixed Assets are being written off in equal annual instalments over each asset's estimated economic life.


5   Property, plant and equipment
 
Fixtures
and
FittingsTotal
££
Cost
At 1st May 2022 and
At 30th April 20234846948469
 
Depreciation
At 1st May 2022 and
At 30th April 20233789637896
 
Net Book Value
At 30th April 20231057310573
At 30th April 20221057310573

6   Stocks20232022
££
 
Finished goods and goods for resale14251165
14251165

The difference between purchase price or production cost of stocks and their replacement cost is not material.


7   Debtors20232022
££
 
Other debtors5549942771
5549942771

8   Creditors: amounts falling due within one year20232022
££
 
Loans and Overdrafts1000010000
Corporation tax88818881
Taxes and social security costs469817755
Other creditors2249021671
4606958307

9   Creditors: amounts falling due after one year20232022
££
 
Loans and Overdrafts2416734167
2416734167

10   Loans20232022
££
Analysis of maturity of debt:
 
Within one year1000010000
Between one and five years2416734167
3416744167

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