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REGISTERED NUMBER: 07488451 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Hair Genius Limited

Hair Genius Limited (Registered number: 07488451)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Hair Genius Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Miss S E Walker
D P Hemsley-Jones





REGISTERED OFFICE: Innovia House Marish Wharf
St Marys Road
Middlegreen
Slough
Berkshire
SL3 6DA





REGISTERED NUMBER: 07488451 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Hair Genius Limited (Registered number: 07488451)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 880 2,080
Tangible assets 5 1,455 2,177
2,335 4,257

CURRENT ASSETS
Stocks 3,850 2,000
Debtors 6 8,246 11,712
Cash at bank and in hand 2,642 12,395
14,738 26,107
CREDITORS
Amounts falling due within one year 7 59,600 67,510
NET CURRENT LIABILITIES (44,862 ) (41,403 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(42,527

)

(37,146

)

CREDITORS
Amounts falling due after more than one
year

8

-

4,226
NET LIABILITIES (42,527 ) (41,372 )

CAPITAL AND RESERVES
Called up share capital 9 40,000 40,000
Retained earnings (82,527 ) (81,372 )
SHAREHOLDERS' FUNDS (42,527 ) (41,372 )

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 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.

Hair Genius Limited (Registered number: 07488451)

Balance Sheet - continued
31 August 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 27 February 2024 and were signed on its behalf by:





Miss S E Walker - Director


Hair Genius Limited (Registered number: 07488451)

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

1. STATUTORY INFORMATION

Hair Genius 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Franchise costs
Franchise costs are amortised over their expected economic useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

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.


Hair Genius Limited (Registered number: 07488451)

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

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The company meets its day to day working capital requirements through an overdraft facility and short term loans. Toni & Guy Limited provide support for the company in the form of extended supplier credit when necessary. The Director considers that it is appropriate to prepare the financial statements on a going concern basis as he expects the company to continue to trade within the facilities made available.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 13,500 16,655 30,155
AMORTISATION
At 1 September 2022 13,500 14,575 28,075
Charge for year - 1,200 1,200
At 31 August 2023 13,500 15,775 29,275
NET BOOK VALUE
At 31 August 2023 - 880 880
At 31 August 2022 - 2,080 2,080

Hair Genius Limited (Registered number: 07488451)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 66,015 1,298 67,313
DEPRECIATION
At 1 September 2022 63,838 1,298 65,136
Charge for year 722 - 722
At 31 August 2023 64,560 1,298 65,858
NET BOOK VALUE
At 31 August 2023 1,455 - 1,455
At 31 August 2022 2,177 - 2,177

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 339 -
Other debtors 7,907 11,712
8,246 11,712

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts 4,977 10,051
Trade creditors 16,793 18,950
Taxation and social security 13,290 13,710
Other creditors 24,540 24,799
59,600 67,510

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans - 4,226

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
10,400 'A' Ordinary £1 10,400 10,400
29,600 'B' Ordinary £1 29,600 29,600
40,000 40,000

Hair Genius Limited

Report of the Accountants to the Directors of
Hair Genius Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


Date: .............................................