Gents Quarter Barber Shop Ltd 14614116 false 2023-01-24 2024-01-31 2024-01-31 The principal activity of the company is that of a barber shop. Digita Accounts Production Advanced 6.30.9574.0 true true 14614116 2023-01-24 2024-01-31 14614116 2024-01-31 14614116 bus:OrdinaryShareClass1 2024-01-31 14614116 core:CurrentFinancialInstruments 2024-01-31 14614116 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 14614116 core:Goodwill 2024-01-31 14614116 core:FurnitureFittingsToolsEquipment 2024-01-31 14614116 bus:SmallEntities 2023-01-24 2024-01-31 14614116 bus:AuditExemptWithAccountantsReport 2023-01-24 2024-01-31 14614116 bus:FilletedAccounts 2023-01-24 2024-01-31 14614116 bus:SmallCompaniesRegimeForAccounts 2023-01-24 2024-01-31 14614116 bus:RegisteredOffice 2023-01-24 2024-01-31 14614116 bus:Director1 2023-01-24 2024-01-31 14614116 bus:Director2 2023-01-24 2024-01-31 14614116 bus:OrdinaryShareClass1 2023-01-24 2024-01-31 14614116 bus:PrivateLimitedCompanyLtd 2023-01-24 2024-01-31 14614116 core:Goodwill 2023-01-24 2024-01-31 14614116 core:FurnitureFittingsToolsEquipment 2023-01-24 2024-01-31 14614116 countries:England 2023-01-24 2024-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14614116

Gents Quarter Barber Shop Ltd

Unaudited Filleted Financial Statements

for the Period from 24 January 2023 to 31 January 2024

 

Gents Quarter Barber Shop Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Gents Quarter Barber Shop Ltd

Company Information

Directors

Mr Oliver Nigel Giffen

Mrs Claire Joanne Giffen

Registered office

C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

Accountants

Smith Butler
Accountants & Business Advisors
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX

 

Gents Quarter Barber Shop Ltd

(Registration number: 14614116)
Balance Sheet as at 31 January 2024

Note

2024
£

Fixed assets

 

Intangible assets

4

1,461

Tangible assets

5

783

 

2,244

Current assets

 

Debtors

6

8,259

Cash at bank and in hand

 

228

 

8,487

Creditors: Amounts falling due within one year

7

(9,818)

Net current liabilities

 

(1,331)

Net assets

 

913

Capital and reserves

 

Called up share capital

8

100

Retained earnings

813

Shareholders' funds

 

913

 

Gents Quarter Barber Shop Ltd

(Registration number: 14614116)
Balance Sheet as at 31 January 2024

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 June 2024 and signed on its behalf by:
 

.........................................
Mr Oliver Nigel Giffen
Director

.........................................
Mrs Claire Joanne Giffen
Director

 

Gents Quarter Barber Shop Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Smith Butler,
Sapper Jordan Rossi Park
Otley Road
Baildon
West Yorkshire
BD17 7AX
United Kingdom

These financial statements were authorised for issue by the Board on 3 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gents Quarter Barber Shop Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Gents Quarter Barber Shop Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

 

Gents Quarter Barber Shop Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

1,700

1,700

At 31 January 2024

1,700

1,700

Amortisation

Amortisation charge

239

239

At 31 January 2024

239

239

Carrying amount

At 31 January 2024

1,461

1,461

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,080

1,080

At 31 January 2024

1,080

1,080

Depreciation

Charge for the period

297

297

At 31 January 2024

297

297

Carrying amount

At 31 January 2024

783

783

6

Debtors

Current

2024
£

Other debtors

8,259

 

8,259

 

Gents Quarter Barber Shop Ltd

Notes to the Unaudited Financial Statements for the Period from 24 January 2023 to 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

191

Taxation and social security

9,903

Other creditors

(276)

9,818

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares of £1 each

100

100