2023-03-012024-02-292024-02-29false08877998STEFFENS HAIR 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STEFFENS HAIR LIMITED

Registered Number
08877998
(England and Wales)

Unaudited Financial Statements for the Year ended
29 February 2024

STEFFENS HAIR LIMITED
Company Information
for the year from 1 March 2023 to 29 February 2024

Director

KING, Peta Jayne

Registered Address

Unit 11 Broadgate House
Westlode Street
Spalding
PE11 2AF

Place of Business

2A Sheep Market

Spalding

PE11 1BH


Registered Number

08877998 (England and Wales)
STEFFENS HAIR LIMITED
Balance Sheet as at
29 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,3587,948
6,3587,948
Current assets
Stocks43,1403,306
Debtors4,178-
Cash at bank and on hand3,2121,235
10,5304,541
Creditors amounts falling due within one year5(88,175)(68,260)
Net current assets (liabilities)(77,645)(63,719)
Total assets less current liabilities(71,287)(55,771)
Net assets(71,287)(55,771)
Capital and reserves
Called up share capital11
Profit and loss account(71,288)(55,772)
Shareholders' funds(71,287)(55,771)
The financial statements were approved and authorised for issue by the Director on 24 May 2024, and are signed on its behalf by:
KING, Peta Jayne
Director
Registered Company No. 08877998
STEFFENS HAIR LIMITED
Notes to the Financial Statements
for the year ended 29 February 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Office Equipment20
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year66
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 March 237,9942,47610,470
At 29 February 247,9942,47610,470
Depreciation and impairment
At 01 March 231,9196032,522
Charge for year1,2163741,590
At 29 February 243,1359774,112
Net book value
At 29 February 244,8591,4996,358
At 28 February 236,0751,8737,948
4.Stocks

2024

2023

££
Finished goods3,1403,306
Total3,1403,306
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,6022,003
Taxation and social security-156
Other creditors85,07264,601
Accrued liabilities and deferred income1,5011,500
Total88,17568,260
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.