Gordon K Hairdressing Limited |
Registered number: |
NI625137 |
Balance Sheet |
as at 30 June 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
121,953 |
|
|
133,039 |
Tangible assets |
4 |
|
|
3,088 |
|
|
3,389 |
|
|
|
|
125,041 |
|
|
136,428 |
|
Current assets |
Stocks |
|
|
4,326 |
|
|
3,968 |
Debtors |
5 |
|
1,183 |
|
|
3,753 |
Cash at bank and in hand |
|
|
35,212 |
|
|
52,352 |
|
|
|
40,721 |
|
|
60,073 |
|
Creditors: amounts falling due within one year |
6 |
|
(74,590) |
|
|
(65,904) |
|
Net current liabilities |
|
|
|
(33,869) |
|
|
(5,831) |
|
Total assets less current liabilities |
|
|
|
91,172 |
|
|
130,597 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(22,151) |
|
|
(30,572) |
|
Provisions for liabilities |
|
|
|
(587) |
|
|
- |
|
|
Net assets |
|
|
|
68,434 |
|
|
100,025 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
750 |
|
|
750 |
Capital redemption reserve |
|
|
|
250 |
|
|
250 |
Profit and loss account |
|
|
|
67,434 |
|
|
99,025 |
|
Shareholders' funds |
|
|
|
68,434 |
|
|
100,025 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. |
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Mr Gordon Keddle |
Director |
Approved by the board on 15 November 2023 |
|
Gordon K Hairdressing Limited |
Notes to the Financial Statements |
for the year ended 30 June 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
20% straight line |
|
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
8 |
|
8 |
|
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 July 2022 |
221,728 |
|
At 30 June 2023 |
221,728 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 July 2022 |
88,689 |
|
Provided during the year |
11,086 |
|
At 30 June 2023 |
99,775 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2023 |
121,953 |
|
At 30 June 2022 |
133,039 |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. |
|
|
4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery |
£ |
|
Cost |
|
At 1 July 2022 |
20,463 |
|
Additions |
1,101 |
|
At 30 June 2023 |
21,564 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2022 |
17,074 |
|
Charge for the year |
1,402 |
|
At 30 June 2023 |
18,476 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2023 |
3,088 |
|
At 30 June 2022 |
3,389 |
|
|
5 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
1,183 |
|
3,753 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans and overdrafts |
9,994 |
|
10,986 |
|
Trade creditors |
14,570 |
|
5,104 |
|
Corporation tax |
28,803 |
|
27,014 |
|
Other taxes and social security costs |
17,910 |
|
18,294 |
|
Other creditors |
3,313 |
|
4,506 |
|
|
|
|
|
|
74,590 |
|
65,904 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loans |
20,752 |
|
29,179 |
|
Other creditors |
1,399 |
|
1,393 |
|
|
|
|
|
|
22,151 |
|
30,572 |
|
|
|
|
|
|
|
|
|
|
8 |
Capital Redemption reserve |
2023 |
|
2022 |
£ |
£ |
|
At 30 June 2022 |
250 |
|
250 |
|
|
|
At 30 June 2023 |
250 |
|
250 |
|
|
|
|
|
|
|
|
|
|
The Capital Redemption reserve was set up as a result of the cancellation of £250 ordinary shares with a nominal value of £1 each on 31st January 2018. |
|
|
|
9 |
Events after the reporting date |
|
|
There were no events since the balance sheet date which would necessitate a change in the above figures. |
|
|
10 |
Loans from directors |
|
|
Loans from directors are included in the balance sheet under creditors amounts falling due after more than one year. |
|
|
11 |
Related party transactions |
|
|
There have been no related party transactions outside the normal course of business. |
|
12 |
Controlling party |
|
|
The company is controlled by the directors. |
|
13 |
Other information |
|
|
Gordon K Hairdressing Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
|
Unit 2 |
|
Merchants Quay |
|
Newry |
|
Co. Down |
|
BT35 8HF |