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REGISTERED NUMBER: 09800601 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2022

FOR

ADAM GROOMING ATELIER LTD

ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 DECEMBER 2022




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

STATEMENT OF FINANCIAL POSITION
30 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 257,834 228,645
Property, plant and equipment 5 1,524,973 1,165,458
1,782,807 1,394,103

CURRENT ASSETS
Inventories 11,665 11,390
Debtors 6 2,413,301 3,018,669
Cash at bank and in hand 178,487 101,192
2,603,453 3,131,251
CREDITORS
Amounts falling due within one year 7 883,499 816,262
NET CURRENT ASSETS 1,719,954 2,314,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,502,761

3,709,092

CREDITORS
Amounts falling due after more than one
year

8

(751,754

)

(1,109,338

)

PROVISIONS FOR LIABILITIES 10 (130,345 ) (93,293 )
NET ASSETS 2,620,662 2,506,461

CAPITAL AND RESERVES
Called up share capital 18 18
Share premium 2,401,800 2,401,800
Retained earnings 218,844 104,643
2,620,662 2,506,461

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 2022 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.

ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

STATEMENT OF FINANCIAL POSITION - continued
30 DECEMBER 2022


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 26 March 2024 and were signed on its behalf by:





Mr Y O Pakcan - Director


ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 DECEMBER 2022

1. STATUTORY INFORMATION

Adam Grooming Atelier Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09800601

Registered office: 8 Gees Court
London
W1U 1JQ

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are significant judgements and estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised when services are rendered to the customers.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Short leasehold 20% reducing balance
Fixtures and fittings 25% reducing balance
Computer equipment 25% reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 DECEMBER 2022

2. ACCOUNTING POLICIES - continued

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2021 - 13 ) .

ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 DECEMBER 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 31 December 2021 270,150
Additions 83,219
At 30 December 2022 353,369
AMORTISATION
At 31 December 2021 41,505
Charge for year 54,030
At 30 December 2022 95,535
NET BOOK VALUE
At 30 December 2022 257,834
At 30 December 2021 228,645

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 31 December 2021 719,454 654,830 10,922 1,385,206
Additions 475,522 84,787 1,540 561,849
At 30 December 2022 1,194,976 739,617 12,462 1,947,055
DEPRECIATION
At 31 December 2021 98,194 116,731 4,823 219,748
Charge for year 93,189 107,620 1,525 202,334
At 30 December 2022 191,383 224,351 6,348 422,082
NET BOOK VALUE
At 30 December 2022 1,003,593 515,266 6,114 1,524,973
At 30 December 2021 621,260 538,099 6,099 1,165,458

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed by group undertakings 1,690,521 1,931,586
Other debtors 722,780 1,087,083
2,413,301 3,018,669

ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 DECEMBER 2022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 184,938 184,938
Hire purchase contracts 24,537 24,537
Trade creditors 240,489 243,774
Amounts owed to group undertakings 326,999 232,150
Taxation and social security 26,902 105,533
Other creditors 79,634 25,330
883,499 816,262

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 683,892 1,011,892
Hire purchase contracts 67,862 97,446
751,754 1,109,338

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 64,615 249,553

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 868,830 1,196,830

Bank loans are secured over the assets of the company, by way of a fixed and floating charge and contains a negative pledge.

10. PROVISIONS FOR LIABILITIES
2022 2021
£    £   
Deferred tax
Accelerated capital allowances 93,293 63,045
Deferred tax 37,052 30,248
130,345 93,293

Deferred
tax
£   
Balance at 31 December 2021 93,293
Provided during year 37,052
Balance at 30 December 2022 130,345

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

ADAM GROOMING ATELIER LTD (REGISTERED NUMBER: 09800601)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 DECEMBER 2022

11. RELATED PARTY DISCLOSURES - continued

Included in the other creditors less than one year is an amount of £43,271 (2021: £251,000 due from ) due to the directors of the company. The amount remains interest free and repayable on demand.