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Registration number: 07073586

Cicero's Hair Company Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Cicero's Hair Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Cicero's Hair Company Limited

Company Information

Directors

Mr Guiseppe Christopher Cicero

Mrs Nikki Carole Reynolds

Company secretary

Mrs Nikki Carole Reynolds

Registered office

1 Sea Road
Littlehampton
West Sussex
BN16 1JN

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Cicero's Hair Company Limited

(Registration number: 07073586)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

773

1,030

Current assets

 

Debtors

5

17,855

26,139

Cash at bank and in hand

 

4,424

2,131

 

22,279

28,270

Creditors: Amounts falling due within one year

6

(15,225)

(16,061)

Net current assets

 

7,054

12,209

Total assets less current liabilities

 

7,827

13,239

Creditors: Amounts falling due after more than one year

6

(7,511)

(9,500)

Provisions for liabilities

(147)

(196)

Net assets

 

169

3,543

Capital and reserves

 

Called up share capital

100

100

Retained earnings

69

3,443

Shareholders' funds

 

169

3,543

 

Cicero's Hair Company Limited

(Registration number: 07073586)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 


Mr Guiseppe Christopher Cicero
Director


Mrs Nikki Carole Reynolds
Company secretary and director

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Sea Road
Littlehampton
West Sussex
BN16 1JN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments

Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.
 

3

Staff numbers

The average number of persons employed by the company (excluding directors) during the year, was 3 (2022 - 1).

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 December 2022

4,815

4,815

At 30 November 2023

4,815

4,815

Depreciation

At 1 December 2022

3,785

3,785

Charge for the year

257

257

At 30 November 2023

4,042

4,042

Carrying amount

At 30 November 2023

773

773

At 30 November 2022

1,030

1,030

5

Debtors

Current

2023
£

2022
£

Other debtors

17,855

26,139

 

17,855

26,139

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

3,800

3,800

Taxation and social security

 

5,363

9,418

Accruals and deferred income

 

5,326

2,506

Other creditors

 

736

337

 

15,225

16,061

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

7,511

9,500

7

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

11,200

11,200

Later than one year and not later than five years

22,400

33,600

33,600

44,800

The amount of non-cancellable operating lease payments recognised as an expense during the year was £11,200 (2022 - £11,200).

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Related party transactions

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr Guiseppe Christopher Cicero

11,218

15,137

(19,017)

7,338

Mrs Nikki Carole Reynolds

11,588

14,613

(19,017)

7,183

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr Guiseppe Christopher Cicero

7,729

11,801

(8,312)

11,218

Mrs Nikki Carole Reynolds

7,529

14,220

(10,162)

11,588

 

Cicero's Hair Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

7,511

9,500

Current loans and borrowings

2023
£

2022
£

Bank borrowings

3,800

3,800