IRIS Accounts Production v24.1.0.578 SC371352 director 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3713522023-01-31SC3713522024-01-31SC3713522023-02-012024-01-31SC3713522022-01-31SC3713522022-02-012023-01-31SC3713522023-01-31SC371352ns15:Scotland2023-02-012024-01-31SC371352ns14:PoundSterling2023-02-012024-01-31SC371352ns10:Director12023-02-012024-01-31SC371352ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31SC371352ns10:SmallEntities2023-02-012024-01-31SC371352ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31SC371352ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31SC371352ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31SC371352ns10:AbridgedAccounts2023-02-012024-01-31SC37135212023-02-012024-01-31SC371352ns10:RegisteredOffice2023-02-012024-01-31SC371352ns5:CurrentFinancialInstruments2024-01-31SC371352ns5:CurrentFinancialInstruments2023-01-31SC371352ns5:ShareCapital2024-01-31SC371352ns5:ShareCapital2023-01-31SC371352ns5:RetainedEarningsAccumulatedLosses2024-01-31SC371352ns5:RetainedEarningsAccumulatedLosses2023-01-31SC371352ns5:NetGoodwill2023-02-012024-01-31SC371352ns5:PlantMachinery2023-02-012024-01-31SC3713521ns10:Director12023-01-31SC3713521ns10:Director12022-01-31SC3713521ns10:Director12023-02-012024-01-31SC3713521ns10:Director12022-02-012023-01-31SC3713521ns10:Director12024-01-31SC3713521ns10:Director12023-01-31
REGISTERED NUMBER: SC371352 (Scotland)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Vanessa's Hairdressers Limited

Vanessa's Hairdressers Limited (Registered number: SC371352)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Vanessa's Hairdressers Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mrs E Fraser





REGISTERED OFFICE: Silver Birches
Kirkhill
Inverness-shire
IV5 7PD





REGISTERED NUMBER: SC371352 (Scotland)





ACCOUNTANTS: Stewart & Stewart Ltd
Chartered Accountants
Achorn House
34 Millbank Road
Munlochy
Ross-Shire
IV8 8ND

Vanessa's Hairdressers Limited (Registered number: SC371352)

Abridged Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 696 928
696 928

CURRENT ASSETS
Stocks 3,100 3,000
Debtors 6,685 6,929
Cash at bank and in hand 4,623 5,016
14,408 14,945
CREDITORS
Amounts falling due within one year 10,198 10,274
NET CURRENT ASSETS 4,210 4,671
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,906

5,599

PROVISIONS FOR LIABILITIES 174 176
NET ASSETS 4,732 5,423

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 4,632 5,323
SHAREHOLDERS' FUNDS 4,732 5,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Vanessa's Hairdressers Limited (Registered number: SC371352)

Abridged Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 April 2024 and were signed by:





Mrs E Fraser - Director


Vanessa's Hairdressers Limited (Registered number: SC371352)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Vanessa's Hairdressers Limited is a private company, limited by shares , registered in Scotland. 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 for goods supplied and services rendered net of discounts and Value Added Tax.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract. Turnover is recognised when the amount of turnover can be measured reliably, it is probable that the Company will receive the consideration due under the contract, the stage of completion of the contract at the end of the reporting period can be measured reliably and when the costs incurred and the costs to complete the contract can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

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 etc - 25% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Vanessa's Hairdressers Limited (Registered number: SC371352)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non convertible preference shares and non puttable ordinary or preference shares are publicly traded or their fair value can otherwise be measured reliably , the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

All equity investments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been 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 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.

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 (2023 - 2 ) .

Vanessa's Hairdressers Limited (Registered number: SC371352)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 26,000
AMORTISATION
At 1 February 2023
and 31 January 2024 26,000
NET BOOK VALUE

At 31 January 2024 -
At 31 January 2023 -

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 6,510
DEPRECIATION
At 1 February 2023 5,582
Charge for year 232
At 31 January 2024 5,814
NET BOOK VALUE
At 31 January 2024 696
At 31 January 2023 928

6. OTHER FINANCIAL COMMITMENTS

As at 31 January 2024 , the company had total commitments under non cancellable operating leases over the remaining life of those leases of £5,160 (2023 - £5,160 ).

Vanessa's Hairdressers Limited (Registered number: SC371352)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Mrs E Fraser
Balance outstanding at start of year 6,527 5,258
Amounts advanced 27,437 31,724
Amounts repaid (27,355 ) (30,455 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,609 6,527

This loan is unsecured, interest-free and has no fixed repayment terms.