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REGISTERED NUMBER: 05000235 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Andrews Hair Studio Ltd

Andrews Hair Studio Ltd (Registered number: 05000235)

Contents of the Financial Statements
for the year ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Andrews Hair Studio Ltd

Company Information
for the year ended 31 May 2023







Directors: Mrs K G Slater
A M Slater





Secretary: Mrs K G Slater





Registered office: Unit 2
Foley Works
Foley Trading Estate
Hereford
HR1 2SF





Registered number: 05000235 (England and Wales)





Accountants: Acre Accountancy Limited
Unit 2 Foley Works
Foley Industrial Estate
Hereford
Herefordshire
HR1 2SF

Andrews Hair Studio Ltd (Registered number: 05000235)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 16,932 21,654

CURRENT ASSETS
Stocks 23,199 21,220
Debtors 6 1,499 1,655
Cash at bank and in hand 128,234 107,228
152,932 130,103
CREDITORS
Amounts falling due within one year 7 (49,900 ) (52,778 )
NET CURRENT ASSETS 103,032 77,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

119,964

98,979

PROVISIONS FOR LIABILITIES (4,232 ) (4,114 )
NET ASSETS 115,732 94,865

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 115,722 94,855
SHAREHOLDERS' FUNDS 115,732 94,865

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

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

Andrews Hair Studio Ltd (Registered number: 05000235)

Balance Sheet - continued
31 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:





A M Slater - Director


Andrews Hair Studio Ltd (Registered number: 05000235)

Notes to the Financial Statements
for the year ended 31 May 2023


1. STATUTORY INFORMATION

Andrews 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.
Fixtures and fittings - 10% on reducing balance
Computer equipment - 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Andrews Hair Studio Ltd (Registered number: 05000235)

Notes to the Financial Statements - continued
for the year ended 31 May 2023


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 14 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 June 2022 68,446 9,065 77,511
Disposals (10,840 ) (1,618 ) (12,458 )
At 31 May 2023 57,606 7,447 65,053
Depreciation
At 1 June 2022 49,656 6,201 55,857
Charge for year 2,088 246 2,334
Eliminated on disposal (8,869 ) (1,201 ) (10,070 )
At 31 May 2023 42,875 5,246 48,121
Net book value
At 31 May 2023 14,731 2,201 16,932
At 31 May 2022 18,790 2,864 21,654

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,499 1,655

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 43,769 45,475
Other creditors 6,131 7,303
49,900 52,778

8. CALLED UP SHARE CAPITAL

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