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REGISTERED NUMBER: 11096853 (England and Wales)















38 HAIR STUDIO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2023






38 HAIR STUDIO LTD (REGISTERED NUMBER: 11096853)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


38 HAIR STUDIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







Director: Mrs A Jones





Registered office: St Andrews House
Yale Business Village
Ellice Way
Wrexham
Wrexham CB
LL13 7YL





Registered number: 11096853 (England and Wales)





Accountants: John Davies and Co
St Andrews House
Yale Business Village
Ellice Way
Wrexham
Wrexham CB
LL13 7YL

38 HAIR STUDIO LTD (REGISTERED NUMBER: 11096853)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,726 4,000

Current assets
Stocks 2,000 4,000
Debtors 5 - 1,336
Cash at bank and in hand 1,934 3,127
3,934 8,463
Creditors
Amounts falling due within one year 6 7,043 11,771
Net current liabilities (3,109 ) (3,308 )
Total assets less current liabilities 617 692

Provisions for liabilities 708 760
Net liabilities (91 ) (68 )

Capital and reserves
Called up share capital 100 100
Retained earnings (191 ) (168 )
(91 ) (68 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

38 HAIR STUDIO LTD (REGISTERED NUMBER: 11096853)

BALANCE SHEET - continued
31 MARCH 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 8 November 2023 and were signed by:





Mrs A Jones - Director


38 HAIR STUDIO LTD (REGISTERED NUMBER: 11096853)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. Statutory information

38 Hair Studio Ltd 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 , excluding rebates and discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 15% on reducing balance

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.

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 2 (2022 - 3 ) .

38 HAIR STUDIO LTD (REGISTERED NUMBER: 11096853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. Tangible fixed assets
Fixtures Computer
& fittings equipment Totals
£    £    £   
Cost
At 1 April 2022 6,526 118 6,644
Additions 431 - 431
At 31 March 2023 6,957 118 7,075
Depreciation
At 1 April 2022 2,624 20 2,644
Charge for year 686 19 705
At 31 March 2023 3,310 39 3,349
Net book value
At 31 March 2023 3,647 79 3,726
At 31 March 2022 3,902 98 4,000

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors - 593
Other debtors - 743
- 1,336

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors - 4,962
Taxation and social security (25 ) 5
Other creditors 7,068 6,804
7,043 11,771

7. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 7,500
Between one and five years - 30,000
In more than five years - 20,625
- 58,125

38 HAIR STUDIO LTD (REGISTERED NUMBER: 11096853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. Related party disclosures

The director operates a loan account with the company the balance outstanding to the director as at 31 March 2023 was £7,068 ( 2022 £6,560 ) . No interest is paid and the loan is due on demand.