Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mr G J Drew 02/05/2007 Mrs J M H Drew 21/12/2008 22 August 2024 The principal activity of the Company during the financial year was that of a wig distributor. 01361898 2023-12-31 01361898 bus:Director1 2023-12-31 01361898 bus:Director2 2023-12-31 01361898 2022-12-31 01361898 core:CurrentFinancialInstruments 2023-12-31 01361898 core:CurrentFinancialInstruments 2022-12-31 01361898 core:Non-currentFinancialInstruments 2023-12-31 01361898 core:Non-currentFinancialInstruments 2022-12-31 01361898 core:ShareCapital 2023-12-31 01361898 core:ShareCapital 2022-12-31 01361898 core:RetainedEarningsAccumulatedLosses 2023-12-31 01361898 core:RetainedEarningsAccumulatedLosses 2022-12-31 01361898 core:LandBuildings 2022-12-31 01361898 core:FurnitureFittings 2022-12-31 01361898 core:OfficeEquipment 2022-12-31 01361898 core:LandBuildings 2023-12-31 01361898 core:FurnitureFittings 2023-12-31 01361898 core:OfficeEquipment 2023-12-31 01361898 bus:OrdinaryShareClass1 2023-12-31 01361898 2023-01-01 2023-12-31 01361898 bus:FilletedAccounts 2023-01-01 2023-12-31 01361898 bus:SmallEntities 2023-01-01 2023-12-31 01361898 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 01361898 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01361898 bus:Director1 2023-01-01 2023-12-31 01361898 bus:Director2 2023-01-01 2023-12-31 01361898 core:LandBuildings 2023-01-01 2023-12-31 01361898 core:FurnitureFittings 2023-01-01 2023-12-31 01361898 core:OfficeEquipment 2023-01-01 2023-12-31 01361898 2022-01-01 2022-12-31 01361898 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01361898 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 01361898 (England and Wales)

STYLES A-HEAD LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

STYLES A-HEAD LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

STYLES A-HEAD LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
STYLES A-HEAD LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 39,735 41,756
39,735 41,756
Current assets
Stocks 143,300 180,000
Debtors 4 4,289 0
Cash at bank and in hand 29,292 43,861
176,881 223,861
Creditors: amounts falling due within one year 5 ( 182,101) ( 136,502)
Net current (liabilities)/assets (5,220) 87,359
Total assets less current liabilities 34,515 129,115
Creditors: amounts falling due after more than one year 6 0 ( 46,647)
Provision for liabilities 6,683 1,429
Net assets 41,198 83,897
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 41,098 83,797
Total shareholders' funds 41,198 83,897

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Styles A-Head Limited (registered number: 01361898) were approved and authorised for issue by the Board of Directors on 22 August 2024. They were signed on its behalf by:

Mr G J Drew
Director
STYLES A-HEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
STYLES A-HEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Styles A-Head Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 36 Feeder Road, Bristol, Avon, BS2 0SE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

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 and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

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 financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less 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. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as follows:

Land and buildings 2 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 3

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 January 2023 76,985 14,250 29,915 121,150
At 31 December 2023 76,985 14,250 29,915 121,150
Accumulated depreciation
At 01 January 2023 37,580 13,195 28,619 79,394
Charge for the financial year 1,540 157 324 2,021
At 31 December 2023 39,120 13,352 28,943 81,415
Net book value
At 31 December 2023 37,865 898 972 39,735
At 31 December 2022 39,405 1,055 1,296 41,756

4. Debtors

2023 2022
£ £
Prepayments 3,728 0
VAT recoverable 561 0
4,289 0

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,735 1,307
Amounts owed to directors 176,652 129,892
Accruals 3,250 2,500
Other taxation and social security 208 761
Other creditors 256 2,042
182,101 136,502

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 0 46,647

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 238 305

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Director's Loan Account 176,752 129,892

There were dividends declared in the year of £25,000 (2022: £23,000), these dividends were unpaid at year end and are included in the directors loan account.