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REGISTERED NUMBER: 13498102 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HAIR SYRUP LTD

HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


HAIR SYRUP LTD

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Miss L E Macleod
Mr A J Baskerville





SECRETARY:





REGISTERED OFFICE: Unit 3 Enterprise Building
West Street Car Park
Fishguard
Pembrokeshire
SA65 9NG





REGISTERED NUMBER: 13498102 (England and Wales)





ACCOUNTANTS: L M Griffiths & Co Limited
Chartered Certified Accountants
1&2 Merlins Court
Winch Lane
Haverfordwest
Pembrokeshire
SA61 1SB

HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,200 9,600
Property, plant and equipment 5 24,265 13,418
31,465 23,018

CURRENT ASSETS
Inventory 274,625 45,056
Debtors 6 174,554 59,622
Cash at bank 548,279 541,492
997,458 646,170
CREDITORS
Amounts falling due within one year 7 (769,403 ) (223,134 )
NET CURRENT ASSETS 228,055 423,036
TOTAL ASSETS LESS CURRENT
LIABILITIES

259,520

446,054

CAPITAL AND RESERVES
Called up share capital 2 1
Retained earnings 259,518 446,053
259,520 446,054

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)

STATEMENT OF FINANCIAL POSITION - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:





Miss L E Macleod - Director


HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Hair Syrup Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on reducing balance
Computer equipment - 20% on cost

Inventory
Inventory are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 12,000
AMORTISATION
At 1 April 2023 2,400
Charge for year 2,400
At 31 March 2024 4,800
NET BOOK VALUE
At 31 March 2024 7,200
At 31 March 2023 9,600

HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,580 6,290 6,902 16,772
Additions 3,852 8,542 5,145 17,539
Disposals (134 ) - - (134 )
At 31 March 2024 7,298 14,832 12,047 34,177
DEPRECIATION
At 1 April 2023 716 1,258 1,380 3,354
Charge for year 1,460 2,715 2,410 6,585
Eliminated on disposal (27 ) - - (27 )
At 31 March 2024 2,149 3,973 3,790 9,912
NET BOOK VALUE
At 31 March 2024 5,149 10,859 8,257 24,265
At 31 March 2023 2,864 5,032 5,522 13,418

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 163,773 17,949
Other debtors 10,781 41,673
174,554 59,622

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 103,177 15,208
Taxation and social security 633,146 192,353
Other creditors 33,080 15,573
769,403 223,134

HAIR SYRUP LTD (REGISTERED NUMBER: 13498102)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Miss L E Macleod
Balance outstanding at start of year (10,258 ) (61 )
Amounts advanced 3,670 -
Amounts repaid - (10,197 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (6,588 ) (10,258 )