Registered number
SC583411
NB Hairdressing Ltd
Filleted Accounts
31 December 2023
NB Hairdressing Ltd
Registered number: SC583411
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 10,000 12,500
Current assets
Cash at bank and in hand 2,287 3,468
Creditors: amounts falling due within one year 4 (13,854) (2,549)
Net current (liabilities)/assets (11,567) 919
Total assets less current liabilities (1,567) 13,419
Creditors: amounts falling due after more than one year 5 (9,667) (29,851)
Net liabilities (11,234) (16,432)
Capital and reserves
Profit and loss account (11,234) (16,432)
Shareholders' funds (11,234) (16,432)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Magee
Director
Approved by the board on 30 August 2024
NB Hairdressing Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax asset is recognised in respect of a tax loss that can be carried forwards to recover tax due in a future period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 25,000
At 31 December 2023 25,000
Amortisation
At 1 January 2023 12,500
Provided during the year 2,500
At 31 December 2023 15,000
Net book value
At 31 December 2023 10,000
At 31 December 2022 12,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 2,399 1,293
Other taxes and social security costs - 775
Other creditors 11,455 481
13,854 2,549
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,667 13,667
Trade creditors - 16,184
9,667 29,851
6 Other information
NB Hairdressing Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
101A High Street
Kinross
Fife
KY13 8AQ
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