GENESIS HAIR STUDIO LIMITED

Company Registration Number:
04544325 (England and Wales)

Unaudited abridged accounts for the year ended 30 November 2023

Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

GENESIS HAIR STUDIO LIMITED

Contents of the Financial Statements

for the Period Ended 30 November 2023

Balance sheet
Notes

GENESIS HAIR STUDIO LIMITED

Balance sheet

As at 30 November 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 1,922 2,306
Total fixed assets: 1,922 2,306
Current assets
Stocks: 3,350 1,850
Debtors:   5,424 1,457
Cash at bank and in hand: 26,040 35,524
Total current assets: 34,814 38,831
Creditors: amounts falling due within one year: 4 (15,682) (16,311)
Net current assets (liabilities): 19,132 22,520
Total assets less current liabilities: 21,054 24,826
Creditors: amounts falling due after more than one year: 5 (20,420) (24,132)
Provision for liabilities: (320) (385)
Total net assets (liabilities): 314 309
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 214 209
Shareholders funds: 314 309

The notes form part of these financial statements

GENESIS HAIR STUDIO LIMITED

Balance sheet statements

For the year ending 30 November 2023 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 20 August 2024
and signed on behalf of the board by:

Name: L D BOSE
Status: Director

The notes form part of these financial statements

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

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 represents the value of services carried out during the year up to the balance sheet date in the course of its principal activity.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Equipment, Fixtures and Fittings - 25% reducing balance basis

Intangible fixed assets and amortisation policy

Intangible fixed assets being goodwill is amortised at a rate of 20% calculated to write-off the asset on a straight line basis over its useful economic life.

Valuation and information policy

Stock is valued at the lower of cost and net realisable value.

Other accounting policies

Taxation:Taxation represents the sum of tax currently payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company’s accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Debtors and Creditors Receivable/Payable Within One Year:Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.Loans:Loans and other financing arrangements are initially recognised at the transaction price including any associated costs. Interest is charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at the constant rate on the carrying amount.

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

2. Employees

2023 2022
Average number of employees during the period 6 6

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

3. Tangible Assets

Total
Cost £
At 01 December 2022 35,153
Additions 196
At 30 November 2023 35,349
Depreciation
At 01 December 2022 32,847
Charge for year 580
At 30 November 2023 33,427
Net book value
At 30 November 2023 1,922
At 30 November 2022 2,306

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

4. Creditors: amounts falling due within one year note

There are no secured creditors.

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

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

There are no secured creditors.

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

6. Financial commitments

The Company and its Directors L D Bose and P A Bose have entered into a new lease of the company's business premises for a period of 2 years expiring on 30 June 2025 but with a break date on 30 June 2024.The minimum non cancellable commitment payable under the lease is £6,417 (2022: £6,416) within the next year.

GENESIS HAIR STUDIO LIMITED

Notes to the Financial Statements

for the Period Ended 30 November 2023

7. Loans to directors

Name of director receiving advance or credit: Mrs L D Bose and P A Bose Esq
Description of the loan: Short Term Loan Advance. The Loan was repaid in full on 20 August 2024.
£
Balance at 01 December 2022 519
Advances or credits made: 4,737
Balance at 30 November 2023 5,256