Registered number
06582681
Kalika Hair & Beauty Ltd
Filleted Accounts
31 March 2023
Kalika Hair & Beauty Ltd
Registered number: 06582681
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,242 5,656
Current assets
Stocks 12,950 11,425
Debtors 4 3,500 3,500
Cash at bank and in hand 4,900 27,879
21,350 42,804
Creditors: amounts falling due within one year 5 (109,891) (108,713)
Net current liabilities (88,541) (65,909)
Total assets less current liabilities (84,299) (60,253)
Creditors: amounts falling due after more than one year 6 (8,871) (10,000)
Net liabilities (93,170) (70,253)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (94,170) (71,253)
Shareholders' funds (93,170) (70,253)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
H Halai
Director
Approved by the board on 13 March 2024
Kalika Hair & Beauty Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% RBM
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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 as the amount of tax payable using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 timing differences.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2022 38,385
At 31 March 2023 38,385
Depreciation
At 1 April 2022 32,729
Charge for the year 1,414
At 31 March 2023 34,143
Net book value
At 31 March 2023 4,242
At 31 March 2022 5,656
4 Debtors 2023 2022
£ £
Other debtors 3,500 3,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 496 897
Other creditors 109,395 107,816
109,891 108,713
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,871 10,000
7 Other information
Kalika Hair & Beauty Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 North Parade
Mollison Way
Edgware
HA8 5QH
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