REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
LESLIE FRANCES (HAIR FASHIONS) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
LESLIE FRANCES (HAIR FASHIONS) LIMITED |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
LESLIE FRANCES (HAIR FASHIONS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARIES: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
10 - 18 Queen Street |
Barnsley |
South Yorkshire |
S70 2AJ |
LESLIE FRANCES (HAIR FASHIONS) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
SOLICITORS: |
1-11 Huddersfield Road |
Barnsley |
South Yorkshire |
S70 2PL |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment | 5 |
CURRENT ASSETS |
Stocks | 6 |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
BALANCE SHEET - continued |
31 MARCH 2023 |
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. |
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 |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Leslie Frances (Hair Fashions) Limited is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Leslie Frances (Hair Fashions) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Turnover from the sale of products and services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount can be measured reliably and it is possible that the economic benefits associated with the transaction will flow to the company. This is usually on payment for goods and services provided. |
REVENUE GRANTS |
Grant income is recognised on an accruals basis and is accounted for in the period to which it relates. |
Grants which are received for compensation for expenses or losses which have already been incurred are recognisable in income when the grant is received or receivable. |
Tangible fixed assets |
Freehold land and buildings | - |
Office & electrical equipment | - |
Fixtures and fittings | - |
Motor vehicles | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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. |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
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 |
The company contributes to employees personal pension scheme. The annual contributions payable are charged to the profit and loss account. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Office & | Fixtures |
land and | electrical | and | Motor |
buildings | equipment | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2022 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | INVESTMENT |
Total |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | STOCKS |
31.3.23 | 31.3.22 |
£ | £ |
Goods for resale |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Called up share capital not paid |
Prepayments and accrued income |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
VAT | 10,586 | 9,871 |
Other creditors |
Directors' current accounts | 18,700 | 41,900 |
Accruals and deferred income |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary | £1 | 98 | 98 |
A Ordinary | £1 | 1 | 1 |
B Ordinary | £1 | 1 | 1 |
100 | 100 |
LESLIE FRANCES (HAIR FASHIONS) LIMITED (REGISTERED NUMBER: 01126386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
10. | RELATED PARTY DISCLOSURES |
Other related parties |
31.03.23 | 31.03.22 |
£ | £ |
Training services expenditure | 46,640 | 43,230 |
During the year, no interest was charged on the loan to the related party. |
31.03.23 | 31.03.22 |
£ | £ |
Amount due from related party at the balance sheet date | 17,714 | 17,714 |