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Company Registration No. 9487971 (England and Wales)
Modern Classics Hairdressing Limited Unaudited accounts for the year ended 31 March 2024
Modern Classics Hairdressing Limited Unaudited accounts Contents
Page
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Modern Classics Hairdressing Limited Company Information for the year ended 31 March 2024
Director
Robert Hearn
Company Number
9487971 (England and Wales)
Registered Office
1 ST. MARTINS STREET CHICHESTER WEST SUSSEX PO19 1LS ENGLAND
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Modern Classics Hairdressing Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
2,009 
1,558 
Current assets
Inventories
500 
500 
Debtors
880 
850 
Cash at bank and in hand
19,561 
27,472 
20,941 
28,822 
Creditors: amounts falling due within one year
(16,806)
(20,640)
Net current assets
4,135 
8,182 
Total assets less current liabilities
6,144 
9,740 
Creditors: amounts falling due after more than one year
(5,792)
(9,461)
Net assets
352 
279 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
342 
269 
Shareholders' funds
352 
279 
For the year ending 31 March 2024 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 his 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 9 April 2024 and were signed on its behalf by
Robert Hearn Director Company Registration No. 9487971
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Modern Classics Hairdressing Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Modern Classics Hairdressing Limited is a private company, limited by shares, registered in England and Wales, registration number 9487971. The registered office is 1 ST. MARTINS STREET, CHICHESTER, WEST SUSSEX, PO19 1LS, ENGLAND.
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 represents the value, net of discounts, of services provided to customers.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is determined on a first in, first out basis. Net realisable value is based on estimated selling price, less any further costs of realisation.
Goodwill
Goodwill is amortised on a straight line basis over its estimated useful economic life of 5 years.
Government grants
Government grants are recognised under the accrual model meaning that grants relating to revenue shall be recognised in income, on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% per annum straight line
Fixtures & fittings
20% per annum straight line
Financial instruments
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method
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Modern Classics Hairdressing Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
20,000 
At 31 March 2024
20,000 
Amortisation
At 1 April 2023
20,000 
At 31 March 2024
20,000 
Net book value
At 31 March 2024
- 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
4,616 
4,190 
8,806 
Additions
- 
999 
999 
At 31 March 2024
4,616 
5,189 
9,805 
Depreciation
At 1 April 2023
4,616 
2,632 
7,248 
Charge for the year
- 
548 
548 
At 31 March 2024
4,616 
3,180 
7,796 
Net book value
At 31 March 2024
- 
2,009 
2,009 
At 31 March 2023
- 
1,558 
1,558 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
880 
850 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,500 
3,500 
Taxes and social security
5,776 
8,178 
Other creditors
474 
180 
Loans from directors
7,056 
8,782 
16,806 
20,640 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,792 
9,461 
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Modern Classics Hairdressing Limited Notes to the Accounts for the year ended 31 March 2024
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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