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Unaudited Financial Statements for the Year Ended 31 December 2023

for

Charlie Taylor Hair Design Limited

Charlie Taylor Hair Design Limited (Registered number: SC104115)






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


Charlie Taylor Hair Design Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A J D Taylor
Mrs C Taylor





REGISTERED OFFICE: 20/22 South Methven Street
Perth
PH1 5NU





REGISTERED NUMBER: SC104115 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Charlie Taylor Hair Design Limited (Registered number: SC104115)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 432,148 433,409

CURRENT ASSETS
Stocks 36,070 39,960
Debtors 5 - 1,922
Cash at bank and in hand 108,827 177,567
144,897 219,449
CREDITORS
Amounts falling due within one year 6 74,856 115,176
NET CURRENT ASSETS 70,041 104,273
TOTAL ASSETS LESS CURRENT
LIABILITIES

502,189

537,682

PROVISIONS FOR LIABILITIES 780 705
NET ASSETS 501,409 536,977

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Revaluation reserve 8 200,431 200,431
Retained earnings 299,978 335,546
SHAREHOLDERS' FUNDS 501,409 536,977

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 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.

Charlie Taylor Hair Design Limited (Registered number: SC104115)

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 Board of Directors and authorised for issue on 23 May 2024 and were signed on its behalf by:





A J D Taylor - Director


Charlie Taylor Hair Design Limited (Registered number: SC104115)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Charlie Taylor Hair Design Limited is a private company, limited by shares , registered in Scotland. 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 each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 15% 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.

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.

Charlie Taylor Hair Design Limited (Registered number: SC104115)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 425,000 98,402 523,402
DEPRECIATION
At 1 January 2023 - 89,993 89,993
Charge for year - 1,261 1,261
At 31 December 2023 - 91,254 91,254
NET BOOK VALUE
At 31 December 2023 425,000 7,148 432,148
At 31 December 2022 425,000 8,409 433,409

Cost or valuation at 31 December 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2012 200,431 - 200,431
Cost 224,569 98,402 322,971
425,000 98,402 523,402

The property was revalued in March 2012 by Graham & Sibbald, Chartered Surveyors at a value of £425,000. The historical cost of the properties was £224,569.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 1,922

Charlie Taylor Hair Design Limited (Registered number: SC104115)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 7,516 11,076
Taxation and social security 19,008 26,327
Other creditors 48,332 77,773
74,856 115,176

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000

8. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 200,431

9. RELATED PARTY DISCLOSURES

Mr and Mrs Taylor have a controlling interest in Charlie Taylor Hair & Beauty Limited (SC563734). The company was due to pay £13,871 (2022 -£171) as at 31st December 2023 as disclosed under other creditors.