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Company Registration No. 11365930 (England and Wales)
REDS Hairdressers Limited Unaudited accounts for the year ended 31 May 2023
REDS Hairdressers Limited Unaudited accounts Contents
Page
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REDS Hairdressers Limited Company Information for the year ended 31 May 2023
Director
Ms R Greenley
Company Number
11365930 (England and Wales)
Registered Office
453 Holderness Road Hull East Yorkshire HU8 8JT
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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REDS Hairdressers Limited Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
2,200 
Tangible assets
4,828 
7,269 
4,828 
9,469 
Current assets
Inventories
2,386 
3,672 
Cash at bank and in hand
2,727 
4,604 
5,113 
8,276 
Creditors: amounts falling due within one year
(4,654)
(4,289)
Net current assets
459 
3,987 
Total assets less current liabilities
5,287 
13,456 
Creditors: amounts falling due after more than one year
(3,894)
(6,106)
Provisions for liabilities
Deferred tax
(917)
- 
Net assets
476 
7,350 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
376 
7,250 
Shareholders' funds
476 
7,350 
For the year ending 31 May 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 director acknowledges her 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 and authorised for issue on 3 January 2024 and were signed on its behalf by
Ms R Greenley Director Company Registration No. 11365930
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REDS Hairdressers Limited Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
REDS Hairdressers Limited is a private company, limited by shares, registered in England and Wales, registration number 11365930. The registered office is 453 Holderness Road , Hull, East Yorkshire, HU8 8JT.
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.
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% on cost
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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REDS Hairdressers Limited Notes to the Accounts for the year ended 31 May 2023
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 June 2022
11,000 
At 31 May 2023
11,000 
Amortisation
At 1 June 2022
8,800 
Charge for the year
2,200 
At 31 May 2023
11,000 
Net book value
At 31 May 2023
- 
At 31 May 2022
2,200 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2022
1,041 
7,353 
1,675 
10,069 
At 31 May 2023
1,041 
7,353 
1,675 
10,069 
Depreciation
At 1 June 2022
387 
1,365 
1,048 
2,800 
Charge for the year
258 
1,837 
346 
2,441 
At 31 May 2023
645 
3,202 
1,394 
5,241 
Net book value
At 31 May 2023
396 
4,151 
281 
4,828 
At 31 May 2022
654 
5,988 
627 
7,269 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
2,106 
2,000 
Trade creditors
1,200 
1,045 
Taxes and social security
368 
25 
Other creditors
- 
38 
Loans from directors
200 
251 
Accruals
780 
930 
4,654 
4,289 
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REDS Hairdressers Limited Notes to the Accounts for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
3,894 
6,106 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Ms R Greenley
Loan to director
- 
10,255 
- 
10,255 
- 
10,255 
- 
10,255 
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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