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REGISTERED NUMBER: 09729095 (England and Wales)















LUSH WIGS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2023






LUSH WIGS LTD (REGISTERED NUMBER: 09729095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUSH WIGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: J R Harris
E L Harris





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 09729095 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

BALANCE SHEET
31ST AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,130 2,947

CURRENT ASSETS
Stocks 6,000 11,000
Debtors 5 68,002 69,329
Cash at bank and in hand 4,404 10,579
78,406 90,908
CREDITORS
Amounts falling due within one year 6 53,642 51,421
NET CURRENT ASSETS 24,764 39,487
TOTAL ASSETS LESS CURRENT
LIABILITIES

25,894

42,434

CREDITORS
Amounts falling due after more than one
year

7

(23,314

)

(26,697

)

PROVISIONS FOR LIABILITIES (215 ) (560 )
NET ASSETS 2,365 15,177

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 2,363 15,175
SHAREHOLDERS' FUNDS 2,365 15,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

BALANCE SHEET - continued
31ST AUGUST 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th February 2024 and were signed on its behalf by:





J R Harris - Director


LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Lush Wigs Ltd 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, 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 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 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.

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st September 2022
and 31st August 2023 12,430
DEPRECIATION
At 1st September 2022 9,483
Charge for year 1,817
At 31st August 2023 11,300
NET BOOK VALUE
At 31st August 2023 1,130
At 31st August 2022 2,947

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 23 -
Other debtors 650 650
673 650

Amounts falling due after more than one year:
Cocopomme intercompany loan 67,329 68,679

Aggregate amounts 68,002 69,329

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,800 10,000
Trade creditors 2,818 7,513
Corporation Tax 10,507 13,114
Social security and other taxes 161 161
VAT 10,717 5,186
Directors' current accounts 21,367 12,167
Accruals and deferred income 3,272 3,280
53,642 51,421

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,800 10,000
Bank loans - 2-5 years 18,514 16,697
23,314 26,697

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary A £0.01 1 1
50 Ordinary B £0.01 1 1
2 2

9. RELATED PARTY DISCLOSURES

The company had an outstanding directors loan creditor at the year end due to J R Harris of £21,368 (2022 - £12,167).