IRIS Accounts Production v23.3.1.45 09110709 director 1.8.22 31.7.23 31.7.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh091107092022-07-31091107092023-07-31091107092022-08-012023-07-31091107092021-07-31091107092021-08-012022-07-31091107092022-07-3109110709ns10:Originalns15:EnglandWales2022-08-012023-07-3109110709ns14:PoundSterlingns10:Original2022-08-012023-07-3109110709ns10:Originalns10:Director12022-08-012023-07-3109110709ns10:Original2022-08-012023-07-3109110709ns10:Original2023-07-3109110709ns10:Originalns10:PrivateLimitedCompanyLtd2022-08-012023-07-3109110709ns10:Originalns10:SmallEntities2022-08-012023-07-3109110709ns10:Originalns10:AuditExemptWithAccountantsReport2022-08-012023-07-3109110709ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-08-012023-07-3109110709ns10:SmallCompaniesRegimeForAccountsns10:Original2022-08-012023-07-3109110709ns10:Originalns10:FullAccounts2022-08-012023-07-3109110709ns10:Originalns10:OrdinaryShareClass12022-08-012023-07-3109110709ns10:Originalns10:RegisteredOffice2022-08-012023-07-3109110709ns10:Original2022-07-3109110709ns10:Originalns5:CurrentFinancialInstruments2023-07-3109110709ns10:Originalns5:CurrentFinancialInstruments2022-07-3109110709ns10:Originalns5:Non-currentFinancialInstruments2023-07-3109110709ns10:Originalns5:Non-currentFinancialInstruments2022-07-3109110709ns5:ShareCapitalns10:Original2023-07-3109110709ns5:ShareCapitalns10:Original2022-07-3109110709ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-07-3109110709ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-07-3109110709ns10:Original2021-08-012022-07-3109110709ns10:Originalns5:PlantMachinery2022-07-3109110709ns10:Originalns5:PlantMachinery2022-08-012023-07-3109110709ns10:Originalns5:PlantMachinery2023-07-3109110709ns10:Originalns5:PlantMachinery2022-07-3109110709ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-07-3109110709ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-07-3109110709ns10:Originalns10:OrdinaryShareClass12023-07-31
REGISTERED NUMBER: 09110709 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

SHAPES IN HAIR LIMITED

SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)






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




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SHAPES IN HAIR LIMITED

Company Information
for the Year Ended 31 July 2023







DIRECTOR: Mr M L Stone





REGISTERED OFFICE: Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX





REGISTERED NUMBER: 09110709 (England and Wales)





ACCOUNTANTS: Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Shapes In Hair Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Shapes In Hair Limited for the year ended 31 July 2023 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Shapes In Hair Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Shapes In Hair Limited and state those matters that we have agreed to state to the director of Shapes In Hair Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Shapes In Hair Limited and its director for our work or for this report.

It is your duty to ensure that Shapes In Hair Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Shapes In Hair Limited. You consider that Shapes In Hair Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Shapes In Hair Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Primera Accountants Limited
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX


5 February 2024

SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 24,248 31,517

CURRENT ASSETS
Stocks 1,500 2,000
Debtors 5 23,230 2,650
Cash at bank and in hand 63,276 73,304
88,006 77,954
CREDITORS
Amounts falling due within one year 6 (52,567 ) (53,823 )
NET CURRENT ASSETS 35,439 24,131
TOTAL ASSETS LESS CURRENT
LIABILITIES

59,687

55,648

CREDITORS
Amounts falling due after more than one
year

7

(51,867

)

(58,464

)
NET ASSETS/(LIABILITIES) 7,820 (2,816 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 7,720 (2,916 )
SHAREHOLDERS' FUNDS 7,820 (2,816 )

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.

SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 February 2024 and were signed by:





Mr M L Stone - Director


SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)

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

1. STATUTORY INFORMATION

Shapes In Hair Limited 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.

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 no significant judgements or 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. Revenue is recognised when services are rendered to the customers.

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.

Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance
Motor vehicle - 25% on reducing balance

Government grants
Government grants are recognised in income when received.

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

SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Schedule 1A of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

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.


SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)

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.

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.

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.

Cash and cash equivalent
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022
and 31 July 2023 50,356
DEPRECIATION
At 1 August 2022 18,839
Charge for year 7,269
At 31 July 2023 26,108
NET BOOK VALUE
At 31 July 2023 24,248
At 31 July 2022 31,517

SHAPES IN HAIR LIMITED (REGISTERED NUMBER: 09110709)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 606 -
Other debtors 22,624 2,650
23,230 2,650

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 5,514 6,542
Hire purchase contracts 2,111 2,265
Trade creditors 2,469 1,534
Taxation and social security 38,936 30,284
Other creditors 3,537 13,198
52,567 53,823

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans 32,625 37,111
Hire purchase contracts 19,242 21,353
51,867 58,464

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.23 31.7.22
value: £    £   
100 Ordinary £1 100 100

9. RELATED PARTY DISCLOSURES

Included in other debtors amounts falling due within one year is an amount of £17,124 due from the company's director.