Company Registration No. 05777953 (England and Wales)
THE HAIR STUDIO (THURSTON) LIMITED
Unaudited accounts
for the year ended 31 March 2024
THE HAIR STUDIO (THURSTON) LIMITED
Unaudited accounts
Contents
THE HAIR STUDIO (THURSTON) LIMITED
Company Information
for the year ended 31 March 2024
Company Number
05777953 (England and Wales)
Registered Office
14 HELDHAW ROAD
BURY ST EDMUNDS
SUFFOLK
IP32 7ER
Accountants
ABBEYGATE ACCOUNTANCY LTD
UNIT 27 STATION HILL
THURSTON
BURY ST. EDMUNDS
ENGLAND
IP31 3QU
THE HAIR STUDIO (THURSTON) LIMITED
Statement of financial position
as at 31 March 2024
Tangible assets
8,981
11,975
Cash at bank and in hand
22,519
32,759
Creditors: amounts falling due within one year
(36,660)
(31,607)
Net current assets
25,185
28,890
Total assets less current liabilities
34,166
40,865
Creditors: amounts falling due after more than one year
(33,674)
(49,249)
Net assets/(liabilities)
492
(8,384)
Called up share capital
100
100
Profit and loss account
392
(8,484)
Shareholders' funds
492
(8,384)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 July 2024 and were signed on its behalf by
Alison Mccready
Director
Company Registration No. 05777953
THE HAIR STUDIO (THURSTON) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
THE HAIR STUDIO (THURSTON) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05777953. The registered office is 14 HELDHAW ROAD, BURY ST EDMUNDS, SUFFOLK, IP32 7ER.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
THE HAIR STUDIO (THURSTON) LIMITED
Notes to the Accounts
for the year ended 31 March 2024
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Tangible fixed assets
Plant & machinery
Amounts falling due within one year
Accrued income and prepayments
-
1,875
Other debtors
36,826
25,363
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
2,694
2,062
Taxes and social security
26,964
20,299
7
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
22,454
33,054
8
Average number of employees
During the year the average number of employees was 5 (2023: 7).