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REGISTERED NUMBER: 02969354 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023

FOR

CHANGES HAIRDESIGN LIMITED

CHANGES HAIRDESIGN LIMITED (REGISTERED NUMBER: 02969354)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CHANGES HAIRDESIGN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTORS: J J McBreen
Mrs M McBreen





SECRETARY: J J McBreen





REGISTERED OFFICE: 6 Granville Square
Willen
Milton Keynes
Buckinghamshire
MK15 9JL





REGISTERED NUMBER: 02969354 (England and Wales)





ACCOUNTANTS: Camfield Chapman Lowe
9 High Street
Woburn Sands
Milton Keynes
Buckinghamshire
MK17 8RF

CHANGES HAIRDESIGN LIMITED (REGISTERED NUMBER: 02969354)

STATEMENT OF FINANCIAL POSITION
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 56,667 70,834
Tangible assets 5 61,547 71,769
118,214 142,603

CURRENT ASSETS
Stocks 28,052 30,381
Debtors 6 45,250 50,871
Cash at bank 186,968 190,442
260,270 271,694
CREDITORS
Amounts falling due within one year 7 307,366 314,913
NET CURRENT LIABILITIES (47,096 ) (43,219 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,118

99,384

CREDITORS
Amounts falling due after more than one
year

8

(15,683

)

(25,041

)

PROVISIONS FOR LIABILITIES (11,631 ) (16,064 )
NET ASSETS 43,804 58,279

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 43,704 58,179
SHAREHOLDERS' FUNDS 43,804 58,279

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 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.

CHANGES HAIRDESIGN LIMITED (REGISTERED NUMBER: 02969354)

STATEMENT OF FINANCIAL POSITION - continued
30TH NOVEMBER 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 Board of Directors and authorised for issue on 27th August 2024 and were signed on its behalf by:




J J McBreen - Director



Mrs M McBreen - Director


CHANGES HAIRDESIGN LIMITED (REGISTERED NUMBER: 02969354)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023

1. STATUTORY INFORMATION

Changes Hairdesign 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over the life of the lease
Plant and machinery - 25% 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 statement of financial position date.

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.

CHANGES HAIRDESIGN LIMITED (REGISTERED NUMBER: 02969354)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st December 2022
and 30th November 2023 283,334
AMORTISATION
At 1st December 2022 212,500
Charge for year 14,167
At 30th November 2023 226,667
NET BOOK VALUE
At 30th November 2023 56,667
At 30th November 2022 70,834

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery Totals
£    £    £    £   
COST
At 1st December 2022 14,615 138,278 32,969 185,862
Additions - - 680 680
At 30th November 2023 14,615 138,278 33,649 186,542
DEPRECIATION
At 1st December 2022 10,772 76,693 26,628 114,093
Charge for year 538 8,622 1,742 10,902
At 30th November 2023 11,310 85,315 28,370 124,995
NET BOOK VALUE
At 30th November 2023 3,305 52,963 5,279 61,547
At 30th November 2022 3,843 61,585 6,341 71,769

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 45,250 50,871

CHANGES HAIRDESIGN LIMITED (REGISTERED NUMBER: 02969354)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 15,507 8,923
Taxation and social security 26,014 28,114
Other creditors 265,845 277,876
307,366 314,913

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 15,683 25,041

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is a balance due to Mr & Mrs McBreen of £248,921 (2022: £257,438).