Registered number
09020574
Joseph Ferraro Hair Limited
Unaudited Filleted Accounts
31 March 2024
Joseph Ferraro Hair Limited
Registered number: 09020574
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Current assets
Stocks 6,000 6,000
Debtors 3 3,356 -
Cash at bank and in hand 112,907 137,176
122,263 143,176
Creditors: amounts falling due within one year 4 (53,249) (63,043)
Net current assets 69,014 80,133
Total assets less current liabilities 69,014 80,133
Creditors: amounts falling due after more than one year 5 (19,830) (30,478)
Net assets 49,184 49,655
Capital and reserves
Called up share capital 100 100
Profit and loss account 49,084 49,555
Shareholders' funds 49,184 49,655
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.
J Ferraro
Director
Approved by the board on 1 May 2024
Joseph Ferraro Hair Limited
Notes to the Accounts
for the year ended 31 March 2024
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, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 16
3 Debtors 2024 2023
£ £
Trade debtors 1,547 -
Prepayments 1,809 -
3,356 -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 12,433 8,694
Director loan account - J Ferraro - 3,000
Corporation tax 8,756 11,227
Other taxes and social security costs 30,610 29,722
Other creditors 1,450 10,400
53,249 63,043
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bounce back loan 19,830 30,478
6 Other information
Joseph Ferraro Hair Limited is a private company limited by shares and incorporated in England. Its registered office is:
45 St. Johns Drive
Harrogate
HG1 3AG
Joseph Ferraro Hair Limited 09020574 false 2023-04-01 2024-03-31 2024-03-31 VT Final Accounts April 2024 J Ferraro No description of principal activity 09020574 2022-04-01 2023-03-31 09020574 core:WithinOneYear 2023-03-31 09020574 core:AfterOneYear 2023-03-31 09020574 core:ShareCapital 2023-03-31 09020574 core:RetainedEarningsAccumulatedLosses 2023-03-31 09020574 2023-04-01 2024-03-31 09020574 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09020574 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09020574 bus:Director40 2023-04-01 2024-03-31 09020574 1 2023-04-01 2024-03-31 09020574 2 2023-04-01 2024-03-31 09020574 countries:England 2023-04-01 2024-03-31 09020574 bus:FRS102 2023-04-01 2024-03-31 09020574 bus:FilletedAccounts 2023-04-01 2024-03-31 09020574 2024-03-31 09020574 core:WithinOneYear 2024-03-31 09020574 core:AfterOneYear 2024-03-31 09020574 core:ShareCapital 2024-03-31 09020574 core:RetainedEarningsAccumulatedLosses 2024-03-31 09020574 2023-03-31 iso4217:GBP xbrli:pure