Company Registration No. 11365930 (England and Wales)
REDS Hairdressers Limited
Unaudited accounts
for the year ended 31 May 2023
REDS Hairdressers Limited
Unaudited accounts
Contents
REDS Hairdressers Limited
Company Information
for the year ended 31 May 2023
Company Number
11365930 (England and Wales)
Registered Office
453 Holderness Road
Hull
East Yorkshire
HU8 8JT
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
REDS Hairdressers Limited
Statement of financial position
as at 31 May 2023
Tangible assets
4,828
7,269
Cash at bank and in hand
2,727
4,604
Creditors: amounts falling due within one year
(4,654)
(4,289)
Net current assets
459
3,987
Total assets less current liabilities
5,287
13,456
Creditors: amounts falling due after more than one year
(3,894)
(6,106)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
376
7,250
Shareholders' funds
476
7,350
For the year ending 31 May 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 director acknowledges her 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 and authorised for issue on 3 January 2024 and were signed on its behalf by
Ms R Greenley
Director
Company Registration No. 11365930
REDS Hairdressers Limited
Notes to the Accounts
for the year ended 31 May 2023
REDS Hairdressers Limited is a private company, limited by shares, registered in England and Wales, registration number 11365930. The registered office is 453 Holderness Road , Hull, East Yorkshire, HU8 8JT.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
25% on cost
Fixtures & fittings
25% on cost
Computer equipment
25% on cost
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
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 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.
REDS Hairdressers Limited
Notes to the Accounts
for the year ended 31 May 2023
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.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
1,041
7,353
1,675
10,069
At 31 May 2023
1,041
7,353
1,675
10,069
At 1 June 2022
387
1,365
1,048
2,800
Charge for the year
258
1,837
346
2,441
At 31 May 2023
645
3,202
1,394
5,241
At 31 May 2023
396
4,151
281
4,828
At 31 May 2022
654
5,988
627
7,269
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
2,106
2,000
Trade creditors
1,200
1,045
Taxes and social security
368
25
Loans from directors
200
251
REDS Hairdressers Limited
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
-
10,255
-
10,255
10
Average number of employees
During the year the average number of employees was 3 (2022: 3).