IRIS Accounts Production v24.1.4.33 SC378294 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3782942022-10-31SC3782942023-10-31SC3782942022-11-012023-10-31SC3782942021-10-31SC3782942021-11-012022-10-31SC3782942022-10-31SC378294ns15:Scotland2022-11-012023-10-31SC378294ns14:PoundSterling2022-11-012023-10-31SC378294ns10:Director12022-11-012023-10-31SC378294ns10:PrivateLimitedCompanyLtd2022-11-012023-10-31SC378294ns10:SmallEntities2022-11-012023-10-31SC378294ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-31SC378294ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-31SC378294ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-31SC378294ns10:AbridgedAccounts2022-11-012023-10-31SC378294ns10:Director22022-11-012023-10-31SC378294ns10:Director32022-11-012023-10-31SC378294ns10:CompanySecretary12022-11-012023-10-31SC378294ns10:RegisteredOffice2022-11-012023-10-31SC378294ns5:CurrentFinancialInstruments2023-10-31SC378294ns5:CurrentFinancialInstruments2022-10-31SC378294ns5:Non-currentFinancialInstruments2023-10-31SC378294ns5:Non-currentFinancialInstruments2022-10-31SC378294ns5:ShareCapital2023-10-31SC378294ns5:ShareCapital2022-10-31SC378294ns5:RetainedEarningsAccumulatedLosses2023-10-31SC378294ns5:RetainedEarningsAccumulatedLosses2022-10-31SC378294ns5:LeaseholdImprovements2022-11-012023-10-31SC378294ns5:FurnitureFittings2022-11-012023-10-31SC378294ns5:ComputerEquipment2022-11-012023-10-31SC378294ns5:WithinOneYear2023-10-31SC378294ns5:WithinOneYear2022-10-31SC378294ns5:BetweenOneFiveYears2023-10-31SC378294ns5:BetweenOneFiveYears2022-10-31SC378294ns5:AllPeriods2023-10-31SC378294ns5:AllPeriods2022-10-31
REGISTERED NUMBER: SC378294 (Scotland)















Financial Statements For The Year Ended 31 October 2023

for

Hair & Beauty World Ltd.

Hair & Beauty World Ltd. (Registered number: SC378294)






Contents of the Financial Statements
For The Year Ended 31 October 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Hair & Beauty World Ltd.

Company Information
For The Year Ended 31 October 2023







DIRECTORS: M J Connolly
S MacDonough
J Coubrough





SECRETARY: M J Connolly





REGISTERED OFFICE: 73 Lochhead Avenue,
Lochwinnoch,
Renfrewshire
PA12 4AW





REGISTERED NUMBER: SC378294 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Hair & Beauty World Ltd. (Registered number: SC378294)

Abridged Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 422 630

CURRENT ASSETS
Stocks 140,271 153,403
Debtors 168,522 165,660
Cash at bank 27,453 42,093
336,246 361,156
CREDITORS
Amounts falling due within one year 135,605 163,803
NET CURRENT ASSETS 200,641 197,353
TOTAL ASSETS LESS CURRENT
LIABILITIES

201,063

197,983

CREDITORS
Amounts falling due after more than one
year

(16,278

)

(25,833

)

PROVISIONS FOR LIABILITIES (80 ) (133 )
NET ASSETS 184,705 172,017

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 184,704 172,016
SHAREHOLDERS' FUNDS 184,705 172,017

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Hair & Beauty World Ltd. (Registered number: SC378294)

Abridged Statement of Financial Position - continued
31 October 2023


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 Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





M J Connolly - Director


Hair & Beauty World Ltd. (Registered number: SC378294)

Notes to the Financial Statements
For The Year Ended 31 October 2023

1. STATUTORY INFORMATION

Hair & Beauty World Ltd. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 25% on reducing balance
Computer Equipment - 33.33% 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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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 statement of financial position date.


Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hair & Beauty World Ltd. (Registered number: SC378294)

Notes to the Financial Statements - continued
For The Year Ended 31 October 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the statement of other comprehensive income over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022
and 31 October 2023 34,800
DEPRECIATION
At 1 November 2022 34,170
Charge for year 208
At 31 October 2023 34,378
NET BOOK VALUE
At 31 October 2023 422
At 31 October 2022 630

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 5,766 17,297
Between one and five years - 5,766
5,766 23,063

6. RELATED PARTY DISCLOSURES

The amount due from Hair & Beauty World (Dunfermline) Ltd, a company under common ownership is £14,607 (2022 - £24, 613).

The amount due from Salon Alternatives Ltd, a company under common ownership is £140,421 (2022 - £111, 810).

Hair & Beauty World Ltd. (Registered number: SC378294)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M J Connolly.