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REGISTERED NUMBER: 13968228 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

ASCN 65 LTD
TRADING AS
CHRISTOPHER MICHAEL HAIR SALON

ASCN 65 LTD (REGISTERED NUMBER: 13968228)
TRADING AS CHRISTOPHER MICHAEL HAIR SALON

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ASCN 65 LTD
TRADING AS CHRISTOPHER MICHAEL HAIR SALON

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: A R Smith
C M Newell





REGISTERED OFFICE: 2 Fountain Mews High Street
Handcross
Haywards Heath
West Sussex
RH17 6BH





REGISTERED NUMBER: 13968228 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

ASCN 65 LTD (REGISTERED NUMBER: 13968228)
TRADING AS CHRISTOPHER MICHAEL HAIR SALON

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,580 31,530

CURRENT ASSETS
Stocks 500 500
Debtors 5 2,998 100
Cash at bank and in hand 1,392 2,006
4,890 2,606
CREDITORS
Amounts falling due within one year 6 41,704 45,531
NET CURRENT LIABILITIES (36,814 ) (42,925 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,234

)

(11,395

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (12,334 ) (11,495 )
(12,234 ) (11,395 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 10 April 2024 and were signed on its behalf by:





C M Newell - Director


ASCN 65 LTD (REGISTERED NUMBER: 13968228)
TRADING AS CHRISTOPHER MICHAEL HAIR SALON

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

ASCN 65 Ltd 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 (£).


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 for hair-dressing and other beauty services excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 5 years
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of
operating as intended.

Government grants
Government grants relating to funds received under approved apprenticeship programs are recognised in the year they are received, providing the conditions of the grant are met.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

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.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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.

ASCN 65 LTD (REGISTERED NUMBER: 13968228)
TRADING AS CHRISTOPHER MICHAEL HAIR SALON

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Going concern
The directors acknowledge the net liabilities position, and are confident that loans due to companies under common control, and related parties will not be recalled in the next twelve months. Therefore, the directors believe that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of the approval of these financial statements. The directors have concluded that the going concern basis of preparation of these financial statements remains appropriate.

3. EMPLOYEES

The average number of employees during the year was 4 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 October 2022
and 30 September 2023 27,640 4,851 1,349 33,840
DEPRECIATION
At 1 October 2022 1,800 426 84 2,310
Charge for year 5,528 1,106 316 6,950
At 30 September 2023 7,328 1,532 400 9,260
NET BOOK VALUE
At 30 September 2023 20,312 3,319 949 24,580
At 30 September 2022 25,840 4,425 1,265 31,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 2,998 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 337 -
Trade creditors 9 2,264
Social security and other taxes - 43
VAT 3,841 -
Other creditors 32,499 34,998
Directors' current accounts 3,418 6,225
Accruals and deferred income 1,600 2,001
41,704 45,531

Included within other creditors is £11,100 (2022: £10,000) due to companies under common control. These loans are interest free and repayable on demand.