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REGISTERED NUMBER: 09337736 (England and Wales)















FREESTYLE HAIR STUDIO LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 JULY 2023






FREESTYLE HAIR STUDIO LTD (REGISTERED NUMBER: 09337736)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JULY 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


FREESTYLE HAIR STUDIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 JULY 2023







DIRECTOR: Miss K Varney





REGISTERED OFFICE: 137 Bridgnorth Road
Wollaston
Stourbridge
West Midlands
DY8 3NX





REGISTERED NUMBER: 09337736 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
FREESTYLE HAIR STUDIO LTD


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Freestyle Hair Studio Ltd for the year ended 29 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Freestyle Hair Studio Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Freestyle Hair Studio Ltd and state those matters that we have agreed to state to the director of Freestyle Hair Studio Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Freestyle Hair Studio Ltd and its director for our work or for this report.

It is your duty to ensure that Freestyle Hair Studio Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Freestyle Hair Studio Ltd. You consider that Freestyle Hair Studio Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Freestyle Hair Studio Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


10 November 2023

FREESTYLE HAIR STUDIO LTD (REGISTERED NUMBER: 09337736)

BALANCE SHEET
29 JULY 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Stocks 1,000 1,000
Debtors 6 13,602 22,077
Cash at bank 260 659
14,862 23,736
CREDITORS
Amounts falling due within one year 7 19,033 23,367
NET CURRENT (LIABILITIES)/ASSETS (4,171 ) 369
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,171

)

369

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (4,271 ) 269
SHAREHOLDERS' FUNDS (4,171 ) 369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 July 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.

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 10 November 2023 and were signed by:





Miss K Varney - Director


FREESTYLE HAIR STUDIO LTD (REGISTERED NUMBER: 09337736)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JULY 2023


1. STATUTORY INFORMATION

Freestyle 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 represents net sales of goods/services, excluding value added tax

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five 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.

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 etc - 33% on cost

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.

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.

FREESTYLE HAIR STUDIO LTD (REGISTERED NUMBER: 09337736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JULY 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 30 July 2022
and 29 July 2023 5,000
AMORTISATION
At 30 July 2022
and 29 July 2023 5,000
NET BOOK VALUE
At 29 July 2023 -
At 29 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 30 July 2022
and 29 July 2023 1,130
DEPRECIATION
At 30 July 2022
and 29 July 2023 1,130
NET BOOK VALUE
At 29 July 2023 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 13,602 22,077

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,789 6,416
Taxation and social security 12,530 12,006
Other creditors 1,714 4,945
19,033 23,367

FREESTYLE HAIR STUDIO LTD (REGISTERED NUMBER: 09337736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 JULY 2023


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 29 July 2023 and the period ended 29 July 2022:

2023 2022
£    £   
Miss K Varney
Balance outstanding at start of year 16,542 6,793
Amounts advanced 34,227 42,445
Amounts repaid (37,166 ) (32,696 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,603 16,542