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REGISTERED NUMBER: 10200349 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

ROOM 8 HAIR AND BEAUTY LIMITED

ROOM 8 HAIR AND BEAUTY LIMITED (REGISTERED NUMBER: 10200349)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ROOM 8 HAIR AND BEAUTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: Miss L Doran





REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR





REGISTERED NUMBER: 10200349 (England and Wales)





ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR

ROOM 8 HAIR AND BEAUTY LIMITED (REGISTERED NUMBER: 10200349)

BALANCE SHEET
31ST MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 45,825 51,996
Property, plant and equipment 5 21,659 27,878
67,484 79,874

CURRENT ASSETS
Inventories 6 29,000 33,000
Debtors 7 3,280 2,459
Cash at bank and in hand 18,216 19,702
50,496 55,161
CREDITORS
Amounts falling due within one year 8 61,801 80,142
NET CURRENT LIABILITIES (11,305 ) (24,981 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

56,179

54,893

CREDITORS
Amounts falling due after more than one
year

9

(20,140

)

(30,033

)

PROVISIONS FOR LIABILITIES (810 ) (1,266 )
NET ASSETS 35,229 23,594

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 35,219 23,584
SHAREHOLDERS' FUNDS 35,229 23,594

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 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.

ROOM 8 HAIR AND BEAUTY LIMITED (REGISTERED NUMBER: 10200349)

BALANCE SHEET - continued
31ST MAY 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4th September 2023 and were signed by:





Miss L Doran - Director


ROOM 8 HAIR AND BEAUTY LIMITED (REGISTERED NUMBER: 10200349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. STATUTORY INFORMATION

Room 8 Hair and Beauty Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliable measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Inventories 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 Statement of Income and Retained Earnings, 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.

ROOM 8 HAIR AND BEAUTY LIMITED (REGISTERED NUMBER: 10200349)

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


2. ACCOUNTING POLICIES - continued

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.

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 1A to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1st June 2022 70,500 2,722 73,222
Disposals - (2,722 ) (2,722 )
At 31st May 2023 70,500 - 70,500
AMORTISATION
At 1st June 2022 21,150 76 21,226
Amortisation for year 3,525 - 3,525
Eliminated on disposal - (76 ) (76 )
At 31st May 2023 24,675 - 24,675
NET BOOK VALUE
At 31st May 2023 45,825 - 45,825
At 31st May 2022 49,350 2,646 51,996

ROOM 8 HAIR AND BEAUTY LIMITED (REGISTERED NUMBER: 10200349)

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


5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1st June 2022 19,905 72,219 5,048 97,172
Additions - - 1,294 1,294
Disposals - - (1,790 ) (1,790 )
At 31st May 2023 19,905 72,219 4,552 96,676
DEPRECIATION
At 1st June 2022 12,963 52,426 3,905 69,294
Charge for year 1,388 3,959 1,023 6,370
Eliminated on disposal (647 ) - - (647 )
At 31st May 2023 13,704 56,385 4,928 75,017
NET BOOK VALUE
At 31st May 2023 6,201 15,834 (376 ) 21,659
At 31st May 2022 6,942 19,793 1,143 27,878

6. INVENTORIES
2023 2022
£    £   
Stocks 29,000 33,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,280 2,459

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,800 10,800
Trade creditors 4,259 2,089
Taxation and social security 22,731 16,279
Other creditors 24,011 50,974
61,801 80,142

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 20,140 30,033

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10 Ordinary £1 10 10