Silverfin false false 31/01/2024 01/02/2023 31/01/2024 A J Griffiths 18/12/2012 12 April 2024 The principal activity of the Company during the financial year was that of hairdressing. 08334608 2024-01-31 08334608 bus:Director1 2024-01-31 08334608 2023-01-31 08334608 core:CurrentFinancialInstruments 2024-01-31 08334608 core:CurrentFinancialInstruments 2023-01-31 08334608 core:ShareCapital 2024-01-31 08334608 core:ShareCapital 2023-01-31 08334608 core:RetainedEarningsAccumulatedLosses 2024-01-31 08334608 core:RetainedEarningsAccumulatedLosses 2023-01-31 08334608 core:Goodwill 2023-01-31 08334608 core:Goodwill 2024-01-31 08334608 core:LeaseholdImprovements 2023-01-31 08334608 core:FurnitureFittings 2023-01-31 08334608 core:ComputerEquipment 2023-01-31 08334608 core:LeaseholdImprovements 2024-01-31 08334608 core:FurnitureFittings 2024-01-31 08334608 core:ComputerEquipment 2024-01-31 08334608 2023-02-01 2024-01-31 08334608 bus:FilletedAccounts 2023-02-01 2024-01-31 08334608 bus:SmallEntities 2023-02-01 2024-01-31 08334608 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 08334608 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 08334608 bus:Director1 2023-02-01 2024-01-31 08334608 core:Goodwill core:TopRangeValue 2023-02-01 2024-01-31 08334608 core:FurnitureFittings 2023-02-01 2024-01-31 08334608 core:ComputerEquipment core:TopRangeValue 2023-02-01 2024-01-31 08334608 2022-02-01 2023-01-31 08334608 core:Goodwill 2023-02-01 2024-01-31 08334608 core:LeaseholdImprovements 2023-02-01 2024-01-31 08334608 core:ComputerEquipment 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 08334608 (England and Wales)

SHARP HAIR LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

SHARP HAIR LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

SHARP HAIR LIMITED

BALANCE SHEET

As at 31 January 2024
SHARP HAIR LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 67,500 75,000
Tangible assets 4 9,188 9,339
76,688 84,339
Current assets
Stocks 4,500 3,973
Debtors 5 5,383 4,618
Cash at bank and in hand 77,613 77,563
87,496 86,154
Creditors: amounts falling due within one year 6 ( 22,516) ( 28,713)
Net current assets 64,980 57,441
Total assets less current liabilities 141,668 141,780
Net assets 141,668 141,780
Capital and reserves
Called-up share capital 100 100
Profit and loss account 141,568 141,680
Total shareholders' funds 141,668 141,780

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Sharp Hair Limited (registered number: 08334608) were approved and authorised for issue by the Director on 12 April 2024. They were signed on its behalf by:

A J Griffiths
Director
SHARP HAIR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
SHARP HAIR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sharp Hair Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 16 St Thomas Street, Lymington, Hampshire, SO41 9NB.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the supply of hairdressing services is complete.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Fixtures and fittings 15 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 5

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 February 2023 150,000 150,000
At 31 January 2024 150,000 150,000
Accumulated amortisation
At 01 February 2023 75,000 75,000
Charge for the financial year 7,500 7,500
At 31 January 2024 82,500 82,500
Net book value
At 31 January 2024 67,500 67,500
At 31 January 2023 75,000 75,000

4. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 01 February 2023 4,234 10,180 1,947 16,361
Additions 0 890 0 890
At 31 January 2024 4,234 11,070 1,947 17,251
Accumulated depreciation
At 01 February 2023 0 5,890 1,132 7,022
Charge for the financial year 0 692 349 1,041
At 31 January 2024 0 6,582 1,481 8,063
Net book value
At 31 January 2024 4,234 4,488 466 9,188
At 31 January 2023 4,234 4,290 815 9,339

5. Debtors

2024 2023
£ £
Prepayments 4,837 4,618
Other debtors 546 0
5,383 4,618

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to director 0 3,037
Accruals 2,955 5,009
Corporation tax 12,944 14,373
Other taxation and social security 6,470 4,152
Other creditors 147 2,142
22,516 28,713

7. Financial commitments

Commitments

Capital commitments are as follows:

2024 2023
£ £
Contracted for but not provided for:
Finance leases entered into 39,750 3,750