Registered number
08714738
Top Hair Fashion Limited
Filleted Accounts
31 October 2023
Top Hair Fashion Limited
Registered number: 08714738
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,307 1,634
Current assets
Stocks 129,868 143,662
Debtors 4 31,659 21,917
Cash at bank and in hand 47,677 33,150
209,204 198,729
Creditors: amounts falling due within one year 5 (131,335) (127,035)
Net current assets 77,869 71,694
Total assets less current liabilities 79,176 73,328
Creditors: amounts falling due after more than one year 6 (26,108) (35,833)
Net assets 53,068 37,495
Capital and reserves
Called up share capital 100 100
Profit and loss account 52,968 37,395
Shareholders' funds 53,068 37,495
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.
T Y Jung
Director
Approved by the board on 26 July 2024
Top Hair Fashion Limited
Notes to the Accounts
for the year ended 31 October 2023
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 5,890
At 31 October 2023 5,890
Depreciation
At 1 November 2022 4,256
Charge for the year 327
At 31 October 2023 4,583
Net book value
At 31 October 2023 1,307
At 31 October 2022 1,634
4 Debtors 2023 2022
£ £
Trade debtors 28,746 19,004
Other debtors 2,913 2,913
31,659 21,917
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 47,848 47,848
Taxation and social security costs 25,159 20,804
Other creditors 58,328 58,383
131,335 127,035
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,108 35,833
7 Other information
Top Hair Fashion Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit F, 61 Albert
Albert Road North
Reigate
RH2 9EL
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