SUYO HAIRDRESSING LIMITED

Company Registration Number:
08868161 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

SUYO HAIRDRESSING LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

SUYO HAIRDRESSING LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Fixed assets
Intangible assets: 3 7,723 17,723
Tangible assets: 4 3,780 4,862
Total fixed assets: 11,503 22,585
Current assets
Stocks: 14,908 11,003
Debtors: 5 31,478 28,690
Total current assets: 46,386 39,693
Creditors: amounts falling due within one year: 6 (159,410) (129,519)
Net current assets (liabilities): (113,024) (89,826)
Total assets less current liabilities: (101,521) (67,241)
Creditors: amounts falling due after more than one year: 7 (36,786) (43,050)
Total net assets (liabilities): (138,307) (110,291)
Capital and reserves
Called up share capital: 100 100
Other reserves: 11 11
Profit and loss account: (138,418) (110,402)
Shareholders funds: (138,307) (110,291)

The notes form part of these financial statements

SUYO HAIRDRESSING LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 05 August 2024
and signed on behalf of the board by:

Name: S Shaikh
Status: Director

The notes form part of these financial statements

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 20-33% straight line. Computer equipment 33% straight line.

Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life which is ten years.

Other accounting policies

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 24 25

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Intangible Assets

Total
Cost £
At 01 April 2023 99,624
At 31 March 2024 99,624
Amortisation
At 01 April 2023 81,901
Charge for year 10,000
At 31 March 2024 91,901
Net book value
At 31 March 2024 7,723
At 31 March 2023 17,723

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Tangible Assets

Total
Cost £
At 01 April 2023 68,807
Additions 1,382
At 31 March 2024 70,189
Depreciation
At 01 April 2023 63,945
Charge for year 2,464
At 31 March 2024 66,409
Net book value
At 31 March 2024 3,780
At 31 March 2023 4,862

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Creditors: amounts falling due within one year note

2024 2023Bank account overdraft 7,136 2,912Trade creditors 33,538 39,716Accruals 42,500 21,539Bank loans 6,007 27,098Due to group companies 18,338 18,338Other taxation and social security 50,582 18,433Other creditors 1,309 1,483159,410 129,519

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

7. Creditors: amounts falling due after more than one year note

2024 2023Deferred tax 945 1,215Bank loansDue in 1-2 years 6,155 6,005Due in 2-5 years 19,413 18,935Due in > 5 years 10,273 16,89536,786 43,050

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

8. Financial commitments

At the year end the company had obligations under non-cancellable operating leases as follows:2024 2023Due within 1 year 46,721 56,065Due in 1-2 years - 46,721Due in 2-5 years - -Due in > 5 years - -46,721 102,786

SUYO HAIRDRESSING LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

9. Related party transactions

The company has taken advantage of the exemption under the terms of Financial Reporting Standard 102 ‘The Financial Reporting Standards applicable in the UK and Republic of Ireland’ not to disclose related party transactions with wholly owned subsidiaries within the group.