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REGISTERED NUMBER: 06468315 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Melanie Giles Hairdressing Limited

Melanie Giles Hairdressing Limited (Registered number: 06468315)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Melanie Giles Hairdressing Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mrs M Calver





SECRETARY: T Calver





REGISTERED OFFICE: 59 Walcot Street
Bath
United Kingdom
BA1 5BN





REGISTERED NUMBER: 06468315 (England and Wales)





ACCOUNTANTS: SO Accounting Limited
Chartered Accountants
2 Harris Close
Frome
Somerset
BA11 5JY

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,388,593 1,414,430
Investment property 5 390,000 350,000
1,778,593 1,764,430

CURRENT ASSETS
Stocks 35,000 31,350
Debtors 6 10,047 7,817
Cash at bank 3,671 9,431
48,718 48,598
CREDITORS
Amounts falling due within one year 7 486,257 392,364
NET CURRENT LIABILITIES (437,539 ) (343,766 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,341,054

1,420,664

CREDITORS
Amounts falling due after more than
one year

8

(505,278

)

(565,423

)

PROVISIONS FOR LIABILITIES 11 (1,892 ) (2,424 )
NET ASSETS 833,884 852,817

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Balance Sheet - continued
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 833,784 852,717
SHAREHOLDERS' FUNDS 833,884 852,817

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

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

The director acknowledges her 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.

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 12 April 2024 and were signed by:





Mrs M Calver - Director


Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Melanie Giles Hairdressing 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 as modified by the revaluation of certain assets.

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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on cost
Freehold property improvements - 10% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 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 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.

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 36 (2023 - 44 ) .

4. TANGIBLE FIXED ASSETS
Freehold
Freehold property Plant and
property improvements machinery
£    £    £   
COST
At 1 February 2023
and 31 January 2024 1,357,681 289,328 47,681
DEPRECIATION
At 1 February 2023 40,730 216,987 45,164
Charge for year 13,577 7,234 503
At 31 January 2024 54,307 224,221 45,667
NET BOOK VALUE
At 31 January 2024 1,303,374 65,107 2,014
At 31 January 2023 1,316,951 72,341 2,517

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 205,994 27,361 1,928,045
DEPRECIATION
At 1 February 2023 186,837 23,897 513,615
Charge for year 3,831 692 25,837
At 31 January 2024 190,668 24,589 539,452
NET BOOK VALUE
At 31 January 2024 15,326 2,772 1,388,593
At 31 January 2023 19,157 3,464 1,414,430

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 350,000
Revaluations 40,000
At 31 January 2024 390,000
NET BOOK VALUE
At 31 January 2024 390,000
At 31 January 2023 350,000

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2021 350,000
Valuation in 2024 40,000
390,000

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 2,800 -
Other debtors 7,247 7,817
10,047 7,817

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts (see note 9)
139,335

143,253
Trade creditors 24,921 31,779
Amounts owed to group undertakings 32,411 20,209
Taxation and social security 99,721 115,118
Other creditors 189,869 82,005
486,257 392,364

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans (see note 9) 505,278 565,423

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 134,862 138,732

9. LOANS

An analysis of the maturity of loans is given below:

31.1.24 31.1.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 67,803 46,485
Bank loans 71,532 96,768
Other loans 101,700 13,000
241,035 156,253

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. LOANS - continued
31.1.24 31.1.23
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 56,381 69,788

Amounts falling due between two and five years:
Bank loans - 2-5 years 314,035 356,903

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 134,862 138,732

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank overdrafts 67,803 46,485
Bank loans 576,810 662,191
644,613 708,676

There are fixed and floating charges over the properties included in fixed assets.

In addition there is a debenture of fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.

11. PROVISIONS FOR LIABILITIES
31.1.24 31.1.23
£    £   
Deferred tax 1,892 2,424

Deferred
tax
£   
Balance at 1 February 2023 2,424
Credit to Income Statement during year (532 )
Balance at 31 January 2024 1,892

Melanie Giles Hairdressing Limited (Registered number: 06468315)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 31.1.23
value: £    £   
100 Ordinary 1 100 100

13. RELATED PARTY DISCLOSURES

The following amounts were owed by the company to related parties as at 31st January 2024;

Mr & Mrs Calver £66,700
Mr Giles £35,000

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs M Calver.