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Company Registration No. 01434821 (England and Wales)
Hair Professional Limited Unaudited accounts for the year ended 31 March 2023
Hair Professional Limited Unaudited accounts Contents
Page
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Hair Professional Limited Company Information for the year ended 31 March 2023
Directors
Mrs A J Mitchell Mr P Powell
Company Number
01434821 (England and Wales)
Registered Office
86 KING STREET MAIDSTONE KENT ME14 1BH
Accountants
Crittendens Accountants Featherstone House High Street Rochester Kent ME1 1DQ
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Hair Professional Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
1,000 
1,250 
Tangible assets
3,568 
2,499 
4,568 
3,749 
Current assets
Inventories
18,211 
20,156 
Debtors
990 
564 
Cash at bank and in hand
71,001 
56,300 
90,202 
77,020 
Creditors: amounts falling due within one year
(23,529)
(22,714)
Net current assets
66,673 
54,306 
Total assets less current liabilities
71,241 
58,055 
Creditors: amounts falling due after more than one year
(9,304)
(13,282)
Net assets
61,937 
44,773 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
61,837 
44,673 
Shareholders' funds
61,937 
44,773 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2023 and were signed on its behalf by
Mrs A J Mitchell Director Company Registration No. 01434821
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Hair Professional Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Hair Professional Limited is a private company, limited by shares, registered in England and Wales, registration number 01434821. The registered office is 86 KING STREET, MAIDSTONE, KENT, ME14 1BH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% per annum on the reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2022
5,000 
At 31 March 2023
5,000 
Amortisation
At 1 April 2022
3,750 
Charge for the year
250 
At 31 March 2023
4,000 
Net book value
At 31 March 2023
1,000 
At 31 March 2022
1,250 
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Hair Professional Limited Notes to the Accounts for the year ended 31 March 2023
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2022
2,679 
1,083 
3,762 
Additions
- 
2,257 
2,257 
At 31 March 2023
2,679 
3,340 
6,019 
Depreciation
At 1 April 2022
992 
271 
1,263 
Charge for the year
421 
767 
1,188 
At 31 March 2023
1,413 
1,038 
2,451 
Net book value
At 31 March 2023
1,266 
2,302 
3,568 
At 31 March 2022
1,687 
812 
2,499 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
990 
564 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
3,978 
3,877 
VAT
8,175 
7,488 
Trade creditors
1,583 
2,157 
Taxes and social security
6,186 
7,259 
Other creditors
155 
- 
Loans from directors
836 
9 
Accruals
1,750 
1,774 
Deferred income
866 
150 
23,529 
22,714 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,304 
13,282 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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