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REGISTERED NUMBER: 10786966 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Aspire Hair A&A Limited

Aspire Hair A&A Limited (Registered number: 10786966)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


Aspire Hair A&A Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: Ms A Christophi
Mr A G F Guardascione





SECRETARY: Ms A Christophi





REGISTERED OFFICE: Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP





REGISTERED NUMBER: 10786966 (England and Wales)





ACCOUNTANTS: Havard & Associates
Suite 1
Concept House
23 Billet Lane
Hornchurch
Essex
RM11 1XP

Aspire Hair A&A Limited (Registered number: 10786966)

Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 25,600 32,000
Tangible assets 5 6,968 8,830
32,568 40,830

CURRENT ASSETS
Stocks 8,000 7,474
Debtors 6 11,755 12,716
Cash at bank 15,663 14,257
35,418 34,447
CREDITORS
Amounts falling due within one year 7 65,270 66,165
NET CURRENT LIABILITIES (29,852 ) (31,718 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,716

9,112

PROVISIONS FOR LIABILITIES 1,324 1,678
NET ASSETS 1,392 7,434

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 1,292 7,334
SHAREHOLDERS' FUNDS 1,392 7,434

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.

Aspire Hair A&A Limited (Registered number: 10786966)

Statement of Financial Position - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





Ms A Christophi - Director


Aspire Hair A&A Limited (Registered number: 10786966)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Aspire Hair A&A Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 etc - 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Aspire Hair A&A Limited (Registered number: 10786966)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 64,000
AMORTISATION
At 1 June 2022 32,000
Charge for year 6,400
At 31 May 2023 38,400
NET BOOK VALUE
At 31 May 2023 25,600
At 31 May 2022 32,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 26,863
Additions 354
Disposals (280 )
At 31 May 2023 26,937
DEPRECIATION
At 1 June 2022 18,033
Charge for year 1,992
Eliminated on disposal (56 )
At 31 May 2023 19,969
NET BOOK VALUE
At 31 May 2023 6,968
At 31 May 2022 8,830

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 2,474 3,435
Other debtors 9,281 9,281
11,755 12,716

Aspire Hair A&A Limited (Registered number: 10786966)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors - 2,723
Taxation and social security 7,526 2,794
Other creditors 57,744 60,648
65,270 66,165

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100