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REGISTERED NUMBER: 03266105 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

CLASSICS HAIR & BEAUTY LIMITED

CLASSICS HAIR & BEAUTY LIMITED (REGISTERED NUMBER: 03266105)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CLASSICS HAIR & BEAUTY LIMITED

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: Mrs P J I Dixon





REGISTERED OFFICE: 1 High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 03266105 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

CLASSICS HAIR & BEAUTY LIMITED (REGISTERED NUMBER: 03266105)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 101,065 105,005
101,065 105,005

CURRENT ASSETS
Stocks 15,000 15,000
Debtors 6 2,490 1,944
Cash at bank 66,070 83,623
83,560 100,567
CREDITORS
Amounts falling due within one year 7 20,403 37,063
NET CURRENT ASSETS 63,157 63,504
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,222

168,509

CAPITAL AND RESERVES
Called up share capital 204,880 204,880
Retained earnings (40,658 ) (36,371 )
SHAREHOLDERS' FUNDS 164,222 168,509

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

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

The director acknowledges her 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.

CLASSICS HAIR & BEAUTY LIMITED (REGISTERED NUMBER: 03266105)

BALANCE SHEET - continued
31 October 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 director and authorised for issue on 20 February 2024 and were signed by:





Mrs P J I Dixon - Director


CLASSICS HAIR & BEAUTY LIMITED (REGISTERED NUMBER: 03266105)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Classics Hair & Beauty 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 1996, is being amortised evenly over its estimated useful life of four 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.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance and 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 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.

CLASSICS HAIR & BEAUTY LIMITED (REGISTERED NUMBER: 03266105)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 1
AMORTISATION
At 1 November 2022
and 31 October 2023 1
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 172,874 49,473 222,347
DEPRECIATION
At 1 November 2022 72,601 44,741 117,342
Charge for year 3,457 483 3,940
At 31 October 2023 76,058 45,224 121,282
NET BOOK VALUE
At 31 October 2023 96,816 4,249 101,065
At 31 October 2022 100,273 4,732 105,005

CLASSICS HAIR & BEAUTY LIMITED (REGISTERED NUMBER: 03266105)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,742 -
Other debtors 748 1,944
2,490 1,944

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,961 5,740
Taxation and social security 4,893 6,625
Other creditors 11,549 24,698
20,403 37,063

8. RELATED PARTY DISCLOSURES

At 31 October 2023 other creditors included loans made to the company by the director of £2,870 (2022: £15,570). The loans are interest free and have no fixed date for repayment.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs P J I Dixon.