Registered number
08257684
Creations Hairdressing Limited
Unaudited Filleted Accounts
31 December 2023
Creations Hairdressing Limited
Registered number: 08257684
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 15,646 16,688
Current assets
Stocks 3,780 3,780
Debtors 5 4,625 6,712
Cash at bank and in hand 27,630 30,320
36,035 40,812
Creditors: amounts falling due within one year 6 (67,693) (68,383)
Net current liabilities (31,658) (27,571)
Total assets less current liabilities (16,012) (10,883)
Creditors: amounts falling due after more than one year 7 (7,926) (13,031)
Provisions for liabilities (2,727) (2,871)
Net liabilities (26,665) (26,785)
Capital and reserves
Called up share capital 2 2
Profit and loss account (26,667) (26,787)
Shareholders' funds (26,665) (26,785)
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.
P Sansone
P Sansone
Director
Approved by the board on 2 July 2024
Creations Hairdressing Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 10% reducing balance
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 21 20
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 20,000
At 31 December 2023 20,000
Amortisation
At 1 January 2023 20,000
At 31 December 2023 20,000
Net book value
At 31 December 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2023 31,433 453 31,886
Additions 697 - 697
At 31 December 2023 32,130 453 32,583
Depreciation
At 1 January 2023 14,745 453 15,198
Charge for the year 1,739 - 1,739
At 31 December 2023 16,484 453 16,937
Net book value
At 31 December 2023 15,646 - 15,646
At 31 December 2022 16,688 - 16,688
5 Debtors 2023 2022
£ £
Other debtors 4,625 6,712
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,052 5,478
Trade creditors 16,579 32,334
Taxation and social security costs 19,917 20,296
Other creditors 26,145 10,275
67,693 68,383
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 7,926 13,031
8 Other information
Creations Hairdressing Limited is a private company limited by shares and incorporated in England. Its registered office is:
47 Katherine Drive
Dunstable
Bedfordshire
LU5 4NP
Creations Hairdressing Limited 08257684 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 P Sansone No description of principal activity 08257684 2022-01-01 2022-12-31 08257684 core:WithinOneYear 2022-12-31 08257684 core:AfterOneYear 2022-12-31 08257684 core:ShareCapital 2022-12-31 08257684 core:RetainedEarningsAccumulatedLosses 2022-12-31 08257684 2023-01-01 2023-12-31 08257684 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08257684 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08257684 bus:Director40 2023-01-01 2023-12-31 08257684 1 2023-01-01 2023-12-31 08257684 2 2023-01-01 2023-12-31 08257684 core:LandBuildings 2023-01-01 2023-12-31 08257684 core:PlantMachinery 2023-01-01 2023-12-31 08257684 countries:England 2023-01-01 2023-12-31 08257684 bus:FRS102 2023-01-01 2023-12-31 08257684 bus:FilletedAccounts 2023-01-01 2023-12-31 08257684 2023-12-31 08257684 core:WithinOneYear 2023-12-31 08257684 core:AfterOneYear 2023-12-31 08257684 core:ShareCapital 2023-12-31 08257684 core:RetainedEarningsAccumulatedLosses 2023-12-31 08257684 core:Goodwill 2023-12-31 08257684 core:LandBuildings 2023-12-31 08257684 core:PlantMachinery 2023-12-31 08257684 2022-12-31 08257684 core:Goodwill 2022-12-31 08257684 core:LandBuildings 2022-12-31 08257684 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure