Company Registration No. 08030070 (England and Wales)
STRANDS HAIRDRESSING LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
STRANDS HAIRDRESSING LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
STRANDS HAIRDRESSING LTD
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
20,000
20,000
Tangible assets
4
2,482
4,869
22,482
24,869
Current assets
Stocks
13,000
19,000
Debtors
5
7,705
11,312
Cash at bank and in hand
166,754
188,282
187,459
218,594
Creditors: amounts falling due within one year
6
(123,153)
(136,677)
Net current assets
64,306
81,917
Net assets
86,788
106,786
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
86,786
106,784
Total equity
86,788
106,786

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their 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 by the board of directors and authorised for issue on 13 September 2023 and are signed on its behalf by:
Mrs P Howe
Director
Company Registration No. 08030070
STRANDS HAIRDRESSING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 2 -
1
Accounting policies
Company information

Strands Hairdressing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 27 Vicarage Lane, Stubbington, Fareham, Hants, PO14 2LA.

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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention . The principal accounting policies adopted are set out below.

 

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
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

1.4
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:

Leasehold land and buildings
25% reducing balance
Salon equipment
25% reducing balance
Flat Fixtures and fittings
25% reducing balance
Office equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

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.

Current tax
STRANDS HAIRDRESSING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
24
24
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
20,000
Amortisation and impairment
At 1 May 2022 and 30 April 2023
-
0
Carrying amount
At 30 April 2023
20,000
At 30 April 2022
20,000
STRANDS HAIRDRESSING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 4 -
4
Tangible fixed assets
Leasehold land and buildings
Salon equipment
Flat Fixtures and fittings
Office equipment
Total
£
£
£
£
£
Cost
At 1 May 2022
14,648
32,932
1,714
7,049
56,343
Additions
-
0
424
-
0
-
0
424
Disposals
(7,324)
(16,258)
(857)
(960)
(25,399)
At 30 April 2023
7,324
17,098
857
6,089
31,368
Depreciation and impairment
At 1 May 2022
13,824
29,932
1,508
6,210
51,474
Depreciation charged in the year
103
489
25
210
827
Eliminated in respect of disposals
(6,912)
(14,789)
(754)
(960)
(23,415)
At 30 April 2023
7,015
15,632
779
5,460
28,886
Carrying amount
At 30 April 2023
309
1,466
78
629
2,482
At 30 April 2022
824
3,000
206
839
4,869
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,393
7,059
Other debtors
4,312
4,253
7,705
11,312
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
31,116
40,833
Trade creditors
2,038
1,133
Corporation tax
18,958
39,904
Other taxation and social security
42,095
29,667
Other creditors
28,946
25,140
123,153
136,677
2023-04-302022-05-01false13 September 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMrs P HoweMr K Fry080300702022-05-012023-04-30080300702023-04-30080300702022-04-3008030070core:NetGoodwill2023-04-3008030070core:NetGoodwill2022-04-3008030070core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-04-3008030070core:PlantMachinery2023-04-3008030070core:FurnitureFittings2023-04-3008030070core:ComputerEquipment2023-04-3008030070core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-04-3008030070core:PlantMachinery2022-04-3008030070core:FurnitureFittings2022-04-3008030070core:ComputerEquipment2022-04-3008030070core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3008030070core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3008030070core:CurrentFinancialInstruments2023-04-3008030070core:CurrentFinancialInstruments2022-04-3008030070core:ShareCapital2023-04-3008030070core:ShareCapital2022-04-3008030070core:RetainedEarningsAccumulatedLosses2023-04-3008030070core:RetainedEarningsAccumulatedLosses2022-04-3008030070bus:Director12022-05-012023-04-3008030070core:Goodwill2022-05-012023-04-3008030070core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-05-012023-04-3008030070core:PlantMachinery2022-05-012023-04-3008030070core:FurnitureFittings2022-05-012023-04-3008030070core:ComputerEquipment2022-05-012023-04-30080300702021-05-012022-04-3008030070core:NetGoodwill2022-04-3008030070core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-04-3008030070core:PlantMachinery2022-04-3008030070core:FurnitureFittings2022-04-3008030070core:ComputerEquipment2022-04-30080300702022-04-3008030070core:WithinOneYear2023-04-3008030070core:WithinOneYear2022-04-3008030070bus:PrivateLimitedCompanyLtd2022-05-012023-04-3008030070bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3008030070bus:FRS1022022-05-012023-04-3008030070bus:AuditExemptWithAccountantsReport2022-05-012023-04-3008030070bus:Director22022-05-012023-04-3008030070bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP