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Company Registration No. 04484848 (England and Wales)
Arc Hairdressing Limited Unaudited accounts for the year ended 31 July 2023
Arc Hairdressing Limited Unaudited accounts Contents
Page
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Arc Hairdressing Limited Company Information for the year ended 31 July 2023
Directors
Mr P Robbins Mr I Butler-Clack
Secretary
Mr P Robbins
Company Number
04484848 (England and Wales)
Registered Office
6 CHURCH STREET BASINGSTOKE HAMPSHIRE RG21 7QE
Accountants
M A Accountancy Group Wolfe Mead Farnham Road Bordon Hampshire GU35 0NH
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Arc Hairdressing Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
72,189 
8,586 
Current assets
Inventories
28,282 
25,947 
Debtors
9,253 
62,493 
Cash at bank and in hand
54,146 
7,588 
91,681 
96,028 
Creditors: amounts falling due within one year
(69,319)
(52,553)
Net current assets
22,362 
43,475 
Total assets less current liabilities
94,551 
52,061 
Creditors: amounts falling due after more than one year
(80,169)
(50,541)
Provisions for liabilities
Deferred tax
(4,793)
(1,323)
Net assets
9,589 
197 
Capital and reserves
Called up share capital
101 
101 
Profit and loss account
9,488 
96 
Shareholders' funds
9,589 
197 
For the year ending 31 July 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by
Mr P Robbins Director Company Registration No. 04484848
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Arc Hairdressing Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Arc Hairdressing Limited is a private company, limited by shares, registered in England and Wales, registration number 04484848. The registered office is 6 CHURCH STREET, BASINGSTOKE, HAMPSHIRE, RG21 7QE.
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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets - Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of fifteen years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
20% straight line
Fixtures & fittings
20% straight line
Computer equipment
20% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Arc Hairdressing Limited Notes to the Accounts for the year ended 31 July 2023
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2022
90,000 
At 31 July 2023
90,000 
Amortisation
At 1 August 2022
90,000 
At 31 July 2023
90,000 
Net book value
At 31 July 2023
- 
5
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2022
26,440 
59,625 
41,284 
6,626 
133,975 
Additions
- 
69,451 
1,140 
- 
70,591 
Disposals
- 
(59,625)
- 
- 
(59,625)
At 31 July 2023
26,440 
69,451 
42,424 
6,626 
144,941 
Depreciation
At 1 August 2022
24,876 
57,625 
37,302 
5,586 
125,389 
Charge for the year
636 
2,241 
1,516 
595 
4,988 
Surplus on revaluation
- 
(57,625)
- 
- 
(57,625)
At 31 July 2023
25,512 
2,241 
38,818 
6,181 
72,752 
Net book value
At 31 July 2023
928 
67,210 
3,606 
445 
72,189 
At 31 July 2022
1,564 
2,000 
3,982 
1,040 
8,586 
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Arc Hairdressing Limited Notes to the Accounts for the year ended 31 July 2023
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
4,704 
3,384 
Other debtors
4,549 
59,109 
9,253 
62,493 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,365 
9,665 
VAT
14,253 
- 
Obligations under finance leases and hire purchase contracts
4,917 
5,821 
Trade creditors
9,928 
11,653 
Taxes and social security
11,009 
21,019 
Other creditors
- 
2,943 
Loans from directors
5,047 
- 
Accruals
3,800 
1,452 
69,319 
52,553 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
34,357 
45,437 
Obligations under finance leases and hire purchase contracts
45,812 
5,104 
80,169 
50,541 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr P Robbins
Loan
18,852 
- 
18,852 
- 
Mr I Butler-Clack
Loan
17,374 
- 
17,374 
- 
36,226 
- 
36,226 
- 
The above loans have been provided interest free, with no fixed terms for repayment.
10
Average number of employees
During the year the average number of employees was 14 (2022: 14).
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