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MH Hair and Beauty Ltd
Registered Number:08964801
For the year ended 31 March 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2023
MH Hair and Beauty Ltd
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
3
Registered Number :
08964801
As at 31 March 2023
MH Hair and Beauty Ltd
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
9,763
11,452
2
9,763
11,452
Current assets
Inventories
80,611
73,832
3
Trade and other receivables
20,304
27,609
4
46,774
Cash and cash equivalents
10,632
112,073
147,689
Trade and other payables: amounts falling due within one year
(126,059)
(66,373)
5
21,630
45,700
Net current assets
Total assets less current liabilities
55,463
33,082
55,463
Net assets
33,082
Capital and reserves
Called up share capital
1
1
Retained earnings
55,462
33,081
55,463
33,082
Shareholders' funds
For the year ended 31 March 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 of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Ms Melanie Halton Director
These financial statements were approved and authorised for issue by the Board on 19 December 2023 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 March 2023
MH Hair and Beauty Ltd
Notes to the Financial Statements
Statutory Information
MH Hair and Beauty Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number
08964801.
Registered address:
Lanskil
Shady Lane, Bromley Cross
Bolton
BL7 9AF
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
15% Reducing balance
25% Reducing balance
Motor vehicles
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
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5
For the year ended 31 March 2023
MH Hair and Beauty Ltd
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Motor vehicles
Plant and
machinery
£
£
£
Cost or valuation
At 01 April 2022
27,831
17,225
10,606
850
-
850
Additions
At 31 March 2023
11,456
17,225
28,681
Provision for depreciation and impairment
At 01 April 2022
16,379
9,957
6,422
Charge for year
2,539
1,817
722
At 31 March 2023
18,918
11,774
7,144
At 31 March 2023
Net book value
4,312
5,451
9,763
At 31 March 2022
4,184
7,268
11,452
3. Inventories
2022
2023
£
£
Stocks
73,832
80,611
4. Trade and other receivables
2022
2023
£
£
Other debtors
27,609
20,304
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Bank loans and overdraft (secured)
30,678
41,627
Trade creditors
2,138
4,933
Taxation and social security
6,113
3,500
Other creditors
27,444
75,999
66,373
126,059
6. Average number of persons employed
During the year the average number of employees was 1 (2022 : 1)
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