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REGISTERED NUMBER: 07703335 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

Bromley's Barbers Ltd

Bromley's Barbers Ltd (Registered number: 07703335)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Bromley's Barbers Ltd

Company Information
for the Year Ended 31 July 2023







Director: P R Bromley





Registered office: 114 Northgate Street
Chester
CH1 2HT





Registered number: 07703335 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Bromley's Barbers Ltd (Registered number: 07703335)

Statement of Financial Position
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 346 329

Current assets
Stocks 100 250
Debtors 5 9,896 10,846
Cash at bank and in hand 8,497 10,851
18,493 21,947
Creditors
Amounts falling due within one year 6 13,330 13,587
Net current assets 5,163 8,360
Total assets less current liabilities 5,509 8,689

Creditors
Amounts falling due after more than
one year

7

(5,750

)

(8,750

)

Provisions for liabilities (66 ) (62 )
Net liabilities (307 ) (123 )

Capital and reserves
Called up share capital 3 3
Retained earnings (310 ) (126 )
(307 ) (123 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Bromley's Barbers Ltd (Registered number: 07703335)

Statement of Financial Position - continued
31 July 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 April 2024 and were signed by:





P R Bromley - Director


Bromley's Barbers Ltd (Registered number: 07703335)

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

1. Statutory information

Bromley's Barbers 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and 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 Statement of Income and Retained Earnings, 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.


Bromley's Barbers Ltd (Registered number: 07703335)

Notes to the Financial Statements - continued
for the Year Ended 31 July 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 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.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Tangible fixed assets
Fixtures,
fittings
and
equipment
£   
Cost
At 1 August 2022 9,292
Additions 227
At 31 July 2023 9,519
Depreciation
At 1 August 2022 8,963
Charge for year 210
At 31 July 2023 9,173
Net book value
At 31 July 2023 346
At 31 July 2022 329

5. Debtors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Other debtors 9,896 10,846

Bromley's Barbers Ltd (Registered number: 07703335)

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

6. Creditors: amounts falling due within one year
31/7/23 31/7/22
£    £   
Bank loans and overdrafts 3,000 3,000
Taxation and social security 6,520 7,828
Other creditors 3,810 2,759
13,330 13,587

7. Creditors: amounts falling due after more than one year
31/7/23 31/7/22
£    £   
Bank loans 5,750 8,750

8. Leasing commitments

At 31 July 2023 the company had commitments under non-cancellable operating leases over the remaining life of these leases of £35,875 (2022 - £46,375). The amount payable within one year in respect of these leases was £10,500 (2022 - £10,500).

9. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31/7/23 31/7/22
£    £   
P R Bromley
Balance outstanding at start of year 9,663 10,133
Amounts advanced 9,672 10,820
Amounts repaid (10,622 ) (11,290 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,713 9,663

Loans to the director are interest free and repayable on demand. Repayments include £9,023 on 6 October 2022. The maximum balance outstanding during the year was £9,663.