Flawless Hair Limited 05994067 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of hairdressers Digita Accounts Production Advanced 6.30.9574.0 true true 05994067 2022-12-01 2023-11-30 05994067 2023-11-30 05994067 bus:OrdinaryShareClass1 2023-11-30 05994067 core:CurrentFinancialInstruments 2023-11-30 05994067 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 05994067 core:Non-currentFinancialInstruments 2023-11-30 05994067 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 05994067 core:FurnitureFittings 2023-11-30 05994067 core:OfficeEquipment 2023-11-30 05994067 bus:SmallEntities 2022-12-01 2023-11-30 05994067 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05994067 bus:FullAccounts 2022-12-01 2023-11-30 05994067 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 05994067 bus:RegisteredOffice 2022-12-01 2023-11-30 05994067 bus:CompanySecretaryDirector1 2022-12-01 2023-11-30 05994067 bus:Director2 2022-12-01 2023-11-30 05994067 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 05994067 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05994067 core:FurnitureFittings 2022-12-01 2023-11-30 05994067 core:OfficeEquipment 2022-12-01 2023-11-30 05994067 countries:EnglandWales 2022-12-01 2023-11-30 05994067 2022-11-30 05994067 core:FurnitureFittings 2022-11-30 05994067 core:OfficeEquipment 2022-11-30 05994067 2021-12-01 2022-11-30 05994067 2022-11-30 05994067 bus:OrdinaryShareClass1 2022-11-30 05994067 core:CurrentFinancialInstruments 2022-11-30 05994067 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 05994067 core:Non-currentFinancialInstruments 2022-11-30 05994067 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 05994067 core:FurnitureFittings 2022-11-30 05994067 core:OfficeEquipment 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05994067

Flawless Hair Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Flawless Hair Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Flawless Hair Limited

Company Information

Directors

Mr A C Sullivan

Mrs Z J Sullivan

Company secretary

Mr A C Sullivan

Registered office

1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

Accountants

Phillip Bates and Co Limited
Chartered Accountants
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA

 

Flawless Hair Limited

(Registration number: 05994067)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

681

755

Current assets

 

Stocks

5

2,800

2,800

Debtors

6

3,219

2,960

Cash at bank and in hand

 

4,407

3,904

 

10,426

9,664

Creditors: Amounts falling due within one year

7

(59,450)

(48,586)

Net current liabilities

 

(49,024)

(38,922)

Total assets less current liabilities

 

(48,343)

(38,167)

Creditors: Amounts falling due after more than one year

7

(10,741)

(16,250)

Net liabilities

 

(59,084)

(54,417)

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

(59,086)

(54,419)

Shareholders' deficit

 

(59,084)

(54,417)

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:
 

 

Flawless Hair Limited

(Registration number: 05994067)
Balance Sheet as at 30 November 2023

.........................................
Mr A C Sullivan
Company secretary and director

.........................................
Mrs Z J Sullivan
Director

 

Flawless Hair 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 - 3 Chester Road
Neston
Cheshire
CH64 9PA
England

These financial statements were authorised for issue by the Board on 30 August 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current 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.

 

Flawless Hair Limited

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

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

Fixtures and fittings

25% straight line

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Flawless Hair Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Flawless Hair Limited

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

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 December 2022

3,862

895

4,757

At 30 November 2023

3,862

895

4,757

Depreciation

At 1 December 2022

3,854

148

4,002

Charge for the year

-

74

74

At 30 November 2023

3,854

222

4,076

Carrying amount

At 30 November 2023

8

673

681

At 30 November 2022

8

747

755

5

Stocks

2023
£

2022
£

Other inventories

2,800

2,800

6

Debtors

Current

2023
£

2022
£

Trade debtors

273

1,560

Prepayments

491

-

Other debtors

2,455

1,400

 

3,219

2,960

 

Flawless Hair Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

18,747

13,319

Trade creditors

 

14,757

12,809

Taxation and social security

 

6,646

9,266

Accruals and deferred income

 

2,935

2,200

Other creditors

 

16,365

10,992

 

59,450

48,586

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £13,005 (2022 - £7,077).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

10,741

16,250

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £10,741 (2022 - £16,250).

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

Flawless Hair Limited

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

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

10,741

16,250

2023
£

2022
£

Current loans and borrowings

Bank borrowings

13,005

7,077

Other borrowings

5,742

6,242

18,747

13,319