Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.6No description of principal activity2023-01-01false7falsetruefalse 09882149 2023-01-01 2023-12-31 09882149 2022-01-01 2022-12-31 09882149 2023-12-31 09882149 2022-12-31 09882149 c:Director1 2023-01-01 2023-12-31 09882149 c:RegisteredOffice 2023-01-01 2023-12-31 09882149 d:Buildings d:LongLeaseholdAssets 2023-12-31 09882149 d:Buildings d:LongLeaseholdAssets 2022-12-31 09882149 d:FurnitureFittings 2023-01-01 2023-12-31 09882149 d:ComputerEquipment 2023-01-01 2023-12-31 09882149 d:ComputerEquipment 2023-12-31 09882149 d:ComputerEquipment 2022-12-31 09882149 d:CurrentFinancialInstruments 2023-12-31 09882149 d:CurrentFinancialInstruments 2022-12-31 09882149 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09882149 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09882149 d:ShareCapital 2023-12-31 09882149 d:ShareCapital 2022-12-31 09882149 d:RetainedEarningsAccumulatedLosses 2023-12-31 09882149 d:RetainedEarningsAccumulatedLosses 2022-12-31 09882149 c:FRS102 2023-01-01 2023-12-31 09882149 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09882149 c:FullAccounts 2023-01-01 2023-12-31 09882149 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09882149 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 09882149







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


HAIR SCIENCE UNITED KINGDOM LIMITED






































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HAIR SCIENCE UNITED KINGDOM LIMITED
 


 
COMPANY INFORMATION


Director
Dr C G Gho 




Registered number
09882149



Registered office
57 Beauchamp Place

London

SW3 1NZ




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


HAIR SCIENCE UNITED KINGDOM LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 5


 


HAIR SCIENCE UNITED KINGDOM LIMITED
REGISTERED NUMBER:09882149



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
111,759
41,642

Cash at bank and in hand
  
14,155
4,116

  
125,914
45,758

Creditors: amounts falling due within one year
 6 
(1,063,925)
(795,868)

Net current liabilities
  
 
 
(938,011)
 
 
(750,110)

Total assets less current liabilities
  
(938,011)
(750,110)

  

Net liabilities
  
(938,011)
(750,110)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(938,111)
(750,210)

  
(938,011)
(750,110)


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Dr C G Gho
Director
Date: 30 August 2024

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 


HAIR SCIENCE UNITED KINGDOM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hair Science United Kingdom Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and principal place of business is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company and rounded to
the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

  
2.2

Going concern

At the balance sheet date, the company had a deficit of net current liabilities of £938,011 (2022: £750,110). Due to the ongoing support of Prostem Hair B.v., its parent company, and other associated companies to enable the company to meet creditors as they fall due, the financial statements have been prepared on a going concern basis.

  
2.3

Foreign currency translation

Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Income and Retained Earnings except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of Income and Retained Earnings within 'other operating income'.

 
2.4

Turnover

Turnover is generated from the provision of hair stem cell transplantation. It is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Page 2

 


HAIR SCIENCE UNITED KINGDOM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Computer equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 


HAIR SCIENCE UNITED KINGDOM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 6).


4.


Tangible fixed assets





Long-term leasehold property
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
28,220
11,518
39,738



At 31 December 2023

28,220
11,518
39,738



Depreciation


At 1 January 2023
28,220
11,518
39,738



At 31 December 2023

28,220
11,518
39,738



Net book value



At 31 December 2023
-
-
-



At 31 December 2022
-
-
-


5.


Debtors

2023
2022
£
£


Trade debtors
49,924
32,000

Amounts owed by group undertakings
100
100

Other debtors
5,000
5,437

Prepayments and accrued income
56,735
4,105

111,759
41,642


Page 4

 


HAIR SCIENCE UNITED KINGDOM LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
43,719
32,119

Amounts owed to group undertakings
807,603
711,250

Other creditors
129,231
1,259

Accruals and deferred income
83,372
51,240

1,063,925
795,868



7.


Parent company

The immediate and ultimate parent undertaking is Prostem Hair B.v., a company incorporated in The Netherlands. The company's registered office and principal place of business is Jeruzalemweg 2, 6222 NG Masstricht, Netherlands.

 
Page 5