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REGISTERED NUMBER: 08485465 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2023

for

The Hadleigh Hair Lounge Limited

The Hadleigh Hair Lounge Limited (Registered number: 08485465)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


The Hadleigh Hair Lounge Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Miss L Ashford





REGISTERED OFFICE: 71 High Street
Hadleigh
Suffolk
IP7 5DY





REGISTERED NUMBER: 08485465 (England and Wales)





ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ

The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Statement of Financial Position
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 15,138 18,252
15,138 18,252

CURRENT ASSETS
Stocks 10,743 9,161
Debtors 6 5,136 5,075
Cash at bank and in hand 37,422 54,162
53,301 68,398
CREDITORS
Amounts falling due within one year 7 35,534 40,426
NET CURRENT ASSETS 17,767 27,972
TOTAL ASSETS LESS CURRENT LIABILITIES 32,905 46,224

CREDITORS
Amounts falling due after more than one
year

8

(14,000

)

(27,932

)

PROVISIONS FOR LIABILITIES 11 (2,156 ) (2,589 )
NET ASSETS 16,749 15,703

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 16,649 15,603
SHAREHOLDERS' FUNDS 16,749 15,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Statement of Financial Position - continued
30 June 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 15 March 2024 and were signed by:





Miss L Ashford - Director


The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

The Hadleigh Hair Lounge 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.

Turnover
Turnover represents net sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures, fittings & equipment - 25% on reducing balance
Computer equipment - Straight line over 2 years

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

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, bank facilities and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.


The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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.

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.

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.

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.

Government grants
Grants are accounted for using the accrual model.

Grants relating to revenue are recognised in the Statement of Income and Retained Earnings in the same period as the related costs for which the grant is intended to compensate. Where there are no related costs the grant is recognised in the period in which it becomes receivable.

Grants relating to assets are recognised in the Statement of Income and Retained Earnings over the expected useful life of the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 62,430
AMORTISATION
At 1 July 2022
and 30 June 2023 62,430
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures,
to fittings Computer
property & equipment equipment Totals
£    £    £    £   
COST
At 1 July 2022 4,275 32,683 2,878 39,836
Additions - 591 1,668 2,259
Disposals - (330 ) (2,595 ) (2,925 )
At 30 June 2023 4,275 32,944 1,951 39,170
DEPRECIATION
At 1 July 2022 1,284 17,639 2,661 21,584
Charge for year 428 4,148 502 5,078
Eliminated on disposal - (252 ) (2,378 ) (2,630 )
At 30 June 2023 1,712 21,535 785 24,032
NET BOOK VALUE
At 30 June 2023 2,563 11,409 1,166 15,138
At 30 June 2022 2,991 15,044 217 18,252

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,136 5,075

The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,912 15,639
Trade creditors 7,443 6,215
Taxation and social security 11,262 15,730
Other creditors 2,917 2,842
35,534 40,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 14,000 27,932

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 17,280

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 27,912 43,571

Bank facilities totalling £6,912 are secured by way of a personal guarantee provided by the director. The balance of £21,000 relates to a Bounce Back loan guaranteed by the Government.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 2,156 2,589

Deferred
tax
£   
Balance at 1 July 2022 2,589
Credit to Statement of Income and Retained Earnings during year (433 )
Balance at 30 June 2023 2,156

The Hadleigh Hair Lounge Limited (Registered number: 08485465)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

12. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Share capital £1 100 100