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REGISTERED NUMBER: 07970129 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Escape The Hair Studio Limited

Escape The Hair Studio Limited (Registered number: 07970129)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Escape The Hair Studio Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Miss N Y Bickley





SECRETARY: G D Bickley





REGISTERED OFFICE: 21 Lea Vale Road
Stourbridge
West Midlands
DY8 2AZ





REGISTERED NUMBER: 07970129 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Escape The Hair Studio Limited (Registered number: 07970129)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,200 12,000
Tangible assets 5 495 699
11,695 12,699

CURRENT ASSETS
Stocks 2,720 2,970
Debtors 6 210 210
Cash at bank and in hand 23,658 19,591
26,588 22,771
CREDITORS
Amounts falling due within one year 7 22,184 23,197
NET CURRENT ASSETS/(LIABILITIES) 4,404 (426 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,099

12,273

PROVISIONS FOR LIABILITIES 9 94 133
NET ASSETS 16,005 12,140

CAPITAL AND RESERVES
Called up share capital 10 60 60
Retained earnings 15,945 12,080
SHAREHOLDERS' FUNDS 16,005 12,140

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

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

Escape The Hair Studio Limited (Registered number: 07970129)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2024 and were signed by:





Miss N Y Bickley - Director


Escape The Hair Studio Limited (Registered number: 07970129)

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

1. STATUTORY INFORMATION

Escape The Hair Studio Limited 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance
Office equipment - 33% on reducing balance

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 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.


Escape The Hair Studio Limited (Registered number: 07970129)

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

2. ACCOUNTING POLICIES - continued
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 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023 8,000
Charge for year 800
At 31 March 2024 8,800
NET BOOK VALUE
At 31 March 2024 11,200
At 31 March 2023 12,000

Escape The Hair Studio Limited (Registered number: 07970129)

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

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 6,699 529 7,228
DEPRECIATION
At 1 April 2023 6,353 176 6,529
Charge for year 86 118 204
At 31 March 2024 6,439 294 6,733
NET BOOK VALUE
At 31 March 2024 260 235 495
At 31 March 2023 346 353 699

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 210 210

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,676 1,072
Taxation and social security 3,668 3,754
Other creditors 16,840 18,371
22,184 23,197

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year - 14,850

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 94 133

Escape The Hair Studio Limited (Registered number: 07970129)

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

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 133
Provided during year (39 )
Balance at 31 March 2024 94

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
60 Ordinary £1 60 60

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss N Y Bickley.