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Registration number: 09244164

Emma Sayers Hairdressing Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

image-name
 

Emma Sayers Hairdressing Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Emma Sayers Hairdressing Ltd

Company Information

Director

Mrs Emma Louise Wilson

Registered office

51 Queen Victoria Avenue
Hove
East Sussex
BN3 6XA

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Emma Sayers Hairdressing Ltd

(Registration number: 09244164)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

5

119

189

Current assets

 

Stocks

6

471

736

Debtors

7

90

3,674

Cash at bank and in hand

 

927

2,600

 

1,488

7,010

Creditors: Amounts falling due within one year

8

(5,925)

(6,907)

Net current (liabilities)/assets

 

(4,437)

103

Total assets less current liabilities

 

(4,318)

292

Provisions for liabilities

(23)

(36)

Net (liabilities)/assets

 

(4,341)

256

Capital and Reserves

 

Called up share capital

1

1

Retained Earnings

(4,342)

255

Shareholders' (deficit)/funds

 

(4,341)

256

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 March 2024
 

 

Emma Sayers Hairdressing Ltd

(Registration number: 09244164)
Balance Sheet as at 31 October 2023

.........................................
Mrs Emma Louise Wilson
Director

   
     
 

Emma Sayers Hairdressing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
51 Queen Victoria Avenue
Hove
East Sussex
BN3 6XA

These financial statements were authorised for issue by the director on 22 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Emma Sayers Hairdressing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

Reducing balance 33%

Office Equipment

Reducing balance 33%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Emma Sayers Hairdressing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Administration and support

1

1

1

1

 

Emma Sayers Hairdressing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

63

95

5

Tangible Assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2022

4,043

4,043

Disposals

(300)

(300)

At 31 October 2023

3,743

3,743

Depreciation

At 1 November 2022

3,854

3,854

Charge for the year

62

62

Eliminated on disposal

(292)

(292)

At 31 October 2023

3,624

3,624

Carrying amount

At 31 October 2023

119

119

At 31 October 2022

189

189

6

Stocks

2023
£

2022
£

Other inventories

471

736

7

Debtors

Current

2023
£

2022
£

Other debtors

90

3,674

 

90

3,674

 

Emma Sayers Hairdressing Ltd

Notes to the Financial Statements for the Year Ended 31 October 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

510

-

Taxation and social security

329

2,341

Accruals and deferred income

1,050

980

Other creditors

4,036

3,586

5,925

6,907

9

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

At start of period

3,675

3,675

Repaid

(3,585)

(3,585)

At end of period

90

90

2022

Key management
£

Total
£

At start of period

6,690

6,690

Advanced

3,675

3,675

Repaid

(6,690)

(6,690)

At end of period

3,675

3,675

Terms of loans to related parties

During the year the company provided the director with a loan. The loan was unsecured, interest free & repayable on demand.