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REGISTERED NUMBER: 04511870 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

OWEN STEWART HAIR LTD

OWEN STEWART HAIR LTD (REGISTERED NUMBER: 04511870)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


OWEN STEWART HAIR LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTOR: O P Stewart





SECRETARY: Mrs J S Stewart





REGISTERED OFFICE: Riverside House
3 Place Farm
Wheathampstead
Hertfordshire
AL4 8SB





REGISTERED NUMBER: 04511870 (England and Wales)





ACCOUNTANTS: Heartwood Accountants Limited
Riverside House
3 Place Farm
Wheathampstead
Hertfordshire
AL4 8SB

OWEN STEWART HAIR LTD (REGISTERED NUMBER: 04511870)

ABRIDGED BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 212 318

CURRENT ASSETS
Debtors 19,899 22,471

CREDITORS
Amounts falling due within one year 6,825 13,258
NET CURRENT ASSETS 13,074 9,213
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,286

9,531

CREDITORS
Amounts falling due after more than one year 13,018 9,099
NET ASSETS 268 432

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 267 431
268 432

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 December 2023 and were signed by:





O P Stewart - Director


OWEN STEWART HAIR LTD (REGISTERED NUMBER: 04511870)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Owen Stewart Hair 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 invoiced sales of goods and services, excluding value added tax.

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 - 33% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022
and 31 August 2023 6,319
DEPRECIATION
At 1 September 2022 6,001
Charge for year 106
At 31 August 2023 6,107
NET BOOK VALUE
At 31 August 2023 212
At 31 August 2022 318

OWEN STEWART HAIR LTD (REGISTERED NUMBER: 04511870)

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

5. LOANS

An analysis of the maturity of loans is given below:

31.8.23 31.8.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 1,140 -
Bounce Back Loan <1 yr 1,429 1,026
2,569 1,026

Amounts falling due between two and five years:
Bank loans - 2-5 years 4,560 -
Bounce Back loan > 1 year 8,458 9,099
13,018 9,099

Included in creditors is a Bounce Back Loan of £10,000 repayable over 6 years. Interest will be charged at a rate of 2.5%. No repayments or interest are payable for the first twelve months of the loan. The client has agreed a repayment holiday until January 2023 and only interest is payable in this period.

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

31.8.23 31.8.22
£    £   
O P Stewart
Balance outstanding at start of year (16,763 ) (17,362 )
Amounts advanced (25,372 ) (26,141 )
Amounts repaid 27,944 26,740
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14,191 ) (16,763 )