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SPOILED HAIR AND BEAUTY LIMITED

Registered Number
SC482797
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2023

SPOILED HAIR AND BEAUTY LIMITED
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

DAVIES, Steven
MALLOY, Glenn

Registered Address

9 Albany Place
St. Andrews
KY16 9HH

Registered Number

SC482797 (Scotland)
SPOILED HAIR AND BEAUTY LIMITED
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets59,32619,129
9,32619,129
Current assets
Stocks920,30422,090
Debtors10118,569213,050
Cash at bank and on hand30,79970,720
169,672305,860
Creditors amounts falling due within one year11(74,900)(134,763)
Net current assets (liabilities)94,772171,097
Total assets less current liabilities104,098190,226
Creditors amounts falling due after one year12(26,470)(35,657)
Provisions for liabilities13(1,773)(3,635)
Net assets75,855150,934
Capital and reserves
Called up share capital100100
Profit and loss account75,755150,834
Shareholders' funds75,855150,934
The financial statements were approved and authorised for issue by the Board of Directors on 12 March 2024, and are signed on its behalf by:
MALLOY, Glenn
Director
Registered Company No. SC482797
SPOILED HAIR AND BEAUTY LIMITED
Notes to the Financial Statements
for the year ended 31 October 2023

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings10
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year1519
5.Property, plant and equipment

Land & buildings

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 November 2288,57821,0614,711114,350
Disposals--(16)(16)
At 31 October 2388,57821,0614,695114,334
Depreciation and impairment
At 01 November 2270,39421,0613,76695,221
Charge for year8,857-9309,787
At 31 October 2379,25121,0614,696105,008
Net book value
At 31 October 239,327-(1)9,326
At 31 October 2218,184-94519,129
6.Description of nature of transactions and balances with related parties
The Accounts include the write off of a loan with a connected company of £111,408, which had been provided to fund its set up and development costs. The company had not made profits since inception and its latest management accounts showed another loss for the year to 31.10.23. Having considered that there was little-to-no likelihood of the debt being repaid, the Directors deemed the loan to be irrecoverable.
7.Directors advances, credits and guarantees
During the year, the company made advances to directors amounting to £72,022. These were repayable on demand. The company received repayments of the full amount after the year end.
8.Dividends proposed and payable

2023

2022

££
Dividends Paid48,00092,000
Total48,00092,000
9.Stocks

2023

2022

££
Other stocks20,30422,090
Total20,30422,090
10.Debtors

2023

2022

££
Trade debtors / trade receivables-330
Amounts owed by associates and joint ventures / participating interests112,23339,252
Other debtors6,336173,468
Total118,569213,050
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables18,16518,618
Taxation and social security48,47150,191
Payments received on account2,009-
Other creditors6,25565,954
Total74,900134,763
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts13,40018,371
Other creditors13,07017,286
Total26,47035,657
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,7733,635
Total1,7733,635