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REGISTERED NUMBER: 06541618 (England and Wales)















THE WIG STORE LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023






THE WIG STORE LIMITED (REGISTERED NUMBER: 06541618)

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










Page

Balance Sheet 1

Notes to the Financial Statements 2 to 3


THE WIG STORE LIMITED (REGISTERED NUMBER: 06541618)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,560 95,418

CURRENT ASSETS
Debtors 5 12,345 3,754
Cash at bank and in hand 63,340 86,212
75,685 89,966
CREDITORS
Amounts falling due within one year 6 21,680 27,140
NET CURRENT ASSETS 54,005 62,826
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,565

158,244

PROVISIONS FOR LIABILITIES 16,353 16,922
NET ASSETS 131,212 141,322

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 131,112 141,222
SHAREHOLDERS' FUNDS 131,212 141,322

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 directors acknowledge their 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.

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 Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





A F Godleman - Director


THE WIG STORE LIMITED (REGISTERED NUMBER: 06541618)

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


1. STATUTORY INFORMATION

The Wig Store Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06541618

Registered office: Bathurst House
50 Bathurst Walk
Iver
Buckinghamshire
SL0 9BH

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.

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 - Straight line over the life of the lease
Wig collection - 5% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on cost

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.

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 5 (2022 - 4 ) .

THE WIG STORE LIMITED (REGISTERED NUMBER: 06541618)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Short Wig and Computer
leasehold collection fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 - 189,080 1,244 2,453 192,777
Additions 2,360 - 447 762 3,569
Disposals - - (195 ) (1,253 ) (1,448 )
At 31 March 2023 2,360 189,080 1,496 1,962 194,898
DEPRECIATION
At 1 April 2022 - 94,610 1,108 1,641 97,359
Charge for year 78 4,732 148 464 5,422
Eliminated on disposal - - (190 ) (1,253 ) (1,443 )
At 31 March 2023 78 99,342 1,066 852 101,338
NET BOOK VALUE
At 31 March 2023 2,282 89,738 430 1,110 93,560
At 31 March 2022 - 94,470 136 812 95,418

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,298 3,442
Other debtors 4,047 312
12,345 3,754

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Tax 14,081 17,541
Social security and other taxes 1,202 719
VAT 3,522 6,203
Other creditors 975 709
Accruals 1,900 1,968
21,680 27,140

7. OTHER FINANCIAL COMMITMENTS

As at the Balance Sheet date the company had entered into a formal lease over the premises from which it trades. The annual rent under the lease is £13,500 per annum plus service charges. The lease was for five years commencing January 2023 with the option to give six months notice subject to a minimum term of two years.

8. ULTIMATE CONTROLLING PARTY

The directors controlled the company throughout the current and comparative years by virtue of holding 100% of the issued ordinary share capital.