IRIS Accounts Production v24.2.0.383 06785471 director 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh067854712022-12-31067854712023-12-31067854712023-01-012023-12-31067854712021-12-31067854712022-01-012022-12-31067854712022-12-3106785471ns15:EnglandWales2023-01-012023-12-3106785471ns14:PoundSterling2023-01-012023-12-3106785471ns10:Director12023-01-012023-12-3106785471ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106785471ns10:SmallEntities2023-01-012023-12-3106785471ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106785471ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106785471ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106785471ns10:FullAccounts2023-01-012023-12-3106785471ns10:RegisteredOffice2023-01-012023-12-3106785471ns5:CurrentFinancialInstruments2023-12-3106785471ns5:CurrentFinancialInstruments2022-12-3106785471ns5:Non-currentFinancialInstruments2023-12-3106785471ns5:Non-currentFinancialInstruments2022-12-3106785471ns5:ShareCapital2023-12-3106785471ns5:ShareCapital2022-12-3106785471ns5:RetainedEarningsAccumulatedLosses2023-12-3106785471ns5:RetainedEarningsAccumulatedLosses2022-12-3106785471ns5:LeaseholdImprovements2023-01-012023-12-3106785471ns5:FurnitureFittings2023-01-012023-12-3106785471ns5:ComputerEquipment2023-01-012023-12-3106785471ns5:LeaseholdImprovements2022-12-3106785471ns5:FurnitureFittings2022-12-3106785471ns5:ComputerEquipment2022-12-3106785471ns5:LeaseholdImprovements2023-12-3106785471ns5:FurnitureFittings2023-12-3106785471ns5:ComputerEquipment2023-12-3106785471ns5:LeaseholdImprovements2022-12-3106785471ns5:FurnitureFittings2022-12-3106785471ns5:ComputerEquipment2022-12-3106785471ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3106785471ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3106785471ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3106785471ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3106785471ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3106785471ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3106785471ns5:WithinOneYear2023-12-3106785471ns5:WithinOneYear2022-12-3106785471ns5:Secured2023-12-3106785471ns5:Secured2022-12-3106785471ns10:Director22023-01-012023-12-3106785471ns10:Director222022-12-3106785471ns10:Director222021-12-3106785471ns10:Director222023-01-012023-12-3106785471ns10:Director222022-01-012022-12-3106785471ns10:Director222023-12-3106785471ns10:Director222022-12-31067854711ns10:Director12022-12-31067854711ns10:Director12021-12-31067854711ns10:Director12023-01-012023-12-31067854711ns10:Director12022-01-012022-12-31067854711ns10:Director12023-12-31067854711ns10:Director12022-12-31
REGISTERED NUMBER: 06785471 (England and Wales)






















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FABRIQ HAIR LIMITED

FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FABRIQ HAIR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: J Barnett





REGISTERED OFFICE: Unit 8G
Old Hall Farmyard
Little Wymondley
Hertfordshire
SG4 7BL





REGISTERED NUMBER: 06785471 (England and Wales)





ACCOUNTANTS: GKP (Ampthill) Limited
Chartered Accountants
3 Doolittle Yard
Froghall Road
Ampthill
Bedfordshire
MK45 2NW

FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,235 20,319

CURRENT ASSETS
Stocks 262,232 295,549
Debtors 5 141,563 228,879
Cash at bank 5,622 4,414
409,417 528,842
CREDITORS
Amounts falling due within one year 6 306,246 324,799
NET CURRENT ASSETS 103,171 204,043
TOTAL ASSETS LESS CURRENT
LIABILITIES

113,406

224,362

CREDITORS
Amounts falling due after more than one
year

7

(74,003

)

(173,706

)

PROVISIONS FOR LIABILITIES - (2,626 )
NET ASSETS 39,403 48,030

CAPITAL AND RESERVES
Called up share capital 1,300 1,300
Retained earnings 38,103 46,730
SHAREHOLDERS' FUNDS 39,403 48,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

BALANCE SHEET - continued
31 DECEMBER 2023


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 director and authorised for issue on 2 August 2024 and were signed by:





J Barnett - Director


FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Fabriq Hair Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 5 years
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

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.

Grant income
Grant income is recognised on the accruals model. Where there are no future performance related conditions, income is recognised when the grants are received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 46,491 9,054 25,502 81,047
Additions - - 1,142 1,142
At 31 December 2023 46,491 9,054 26,644 82,189
DEPRECIATION
At 1 January 2023 37,089 7,150 16,489 60,728
Charge for year 8,910 285 2,031 11,226
At 31 December 2023 45,999 7,435 18,520 71,954
NET BOOK VALUE
At 31 December 2023 492 1,619 8,124 10,235
At 31 December 2022 9,402 1,904 9,013 20,319

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 61,638 137,568
Other debtors 72,676 25,906
Directors' current accounts - 23,012
Tax - 25,934
Prepayments 7,249 16,459
141,563 228,879

FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,570 43,552
Other loans 112,185 74,795
Trade creditors 90,646 146,491
Tax 19,756 -
Social security and other taxes 11,153 3,437
VAT 22,600 36,823
Other creditors - 13,176
Directors' current accounts 389 -
Accrued expenses 5,947 6,525
306,246 324,799

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 24,000 24,000
Bank loans - 2-5 years 12,000 36,000
Other loans - 1-2 years 38,003 83,692
Other loans - 2-5 years - 30,014
74,003 173,706

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year - 12,100

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 60,000 84,000

Lloyds Bank PLC holds a fixed and floating charge over the undertaking and all property of the company.

FABRIQ HAIR LIMITED (REGISTERED NUMBER: 06785471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
J Hubbard
Balance outstanding at start of year 19,445 15,823
Amounts advanced - 19,445
Amounts repaid (19,445 ) (15,823 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 19,445

J Barnett
Balance outstanding at start of year 3,567 -
Amounts advanced - 3,567
Amounts repaid (3,567 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 3,567

There are no terms relating to repayment or interest.