Registered number
SC423915
Bower Hair Ltd
Filleted Accounts
31 May 2023
Bower Hair Ltd
Registered number: SC423915
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 90,886 91,042
Current assets
Cash at bank and in hand 223 1,285
Creditors: amounts falling due within one year 4 (432) (420)
Net current (liabilities)/assets (209) 865
Total assets less current liabilities 90,677 91,907
Creditors: amounts falling due after more than one year 5 (161,511) (170,523)
Net liabilities (70,834) (78,616)
Capital and reserves
Called up share capital 2 2
Profit and loss account (70,836) (78,618)
Shareholders' funds (70,834) (78,616)
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.
A Ferguson
Director
Approved by the board on 28 March 2024
Bower Hair Ltd
Notes to the Accounts
for the year ended 31 May 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 and includes revenue from rental income.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on tangible fixed assets, other than freehold property, at rates calculated to write off the cost, less estimated residual value, of each asset by Reducing Balance method as follows:
Plant and machinery 15% Reducing Balance
Creditors
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.
Taxation
A current tax asset is recognised in respect of a tax loss that is being carried forwards to be utilised against future profits where appropriate
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 90,000 5,295 95,295
At 31 May 2023 90,000 5,295 95,295
Depreciation
At 1 June 2022 - 4,253 4,253
Charge for the year - 156 156
At 31 May 2023 - 4,409 4,409
Net book value
At 31 May 2023 90,000 886 90,886
At 31 May 2022 90,000 1,042 91,042
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 420
Other creditors 432 -
432 420
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans - 12,226
Other creditors 161,511 158,297
161,511 170,523
6 Other information
Bower Hair Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
1 Gallowhill Gardens
Kinross
KY13 8RT
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