BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is to carry on hairdressing and associated treatments. 13 August 2024 3 4 NI610656 2024-01-31 NI610656 2023-01-31 NI610656 2022-01-31 NI610656 2023-02-01 2024-01-31 NI610656 2022-02-01 2023-01-31 NI610656 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI610656 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI610656 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI610656 uk-bus:FullAccounts 2023-02-01 2024-01-31 NI610656 uk-core:ShareCapital 2024-01-31 NI610656 uk-core:ShareCapital 2023-01-31 NI610656 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI610656 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI610656 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI610656 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI610656 uk-bus:FRS102 2023-02-01 2024-01-31 NI610656 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI610656 uk-core:WithinOneYear 2024-01-31 NI610656 uk-core:WithinOneYear 2023-01-31 NI610656 uk-core:WithinOneYear 2024-01-31 NI610656 uk-core:WithinOneYear 2023-01-31 NI610656 uk-core:AfterOneYear 2024-01-31 NI610656 uk-core:AfterOneYear 2023-01-31 NI610656 uk-core:AfterOneYear 2024-01-31 NI610656 uk-core:AfterOneYear 2023-01-31 NI610656 uk-core:BetweenOneTwoYears 2024-01-31 NI610656 uk-core:BetweenOneTwoYears 2023-01-31 NI610656 uk-core:BetweenTwoFiveYears 2024-01-31 NI610656 uk-core:BetweenTwoFiveYears 2023-01-31 NI610656 uk-core:OtherMiscellaneousReserve 2023-01-31 NI610656 uk-core:OtherMiscellaneousReserve 2023-02-01 2024-01-31 NI610656 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 NI610656 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-01-31 NI610656 uk-core:OtherDeferredTax 2024-01-31 NI610656 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-01-31 NI610656 uk-core:OtherMiscellaneousReserve 2024-01-31 NI610656 2023-02-01 2024-01-31 NI610656 uk-bus:Director1 2023-02-01 2024-01-31 NI610656 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI610656
 
 
Solitair Unisex Hair Studio Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 January 2024
Solitair Unisex Hair Studio Ltd
Company Registration Number: NI610656
BALANCE SHEET
as at 31 January 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 2,779 3,705
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Current Assets
Stocks 5 3,458 2,394
Debtors 6 - 4,504
Cash and cash equivalents 36,574 38,407
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40,032 45,305
───────── ─────────
Creditors: amounts falling due within one year 7 (5,884) (6,671)
───────── ─────────
Net Current Assets 34,148 38,634
───────── ─────────
Total Assets less Current Liabilities 36,927 42,339
 
Creditors:
amounts falling due after more than one year 8 (4,950) (9,373)
 
Provisions for liabilities 10 (526) (761)
───────── ─────────
Net Assets 31,451 32,205
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Capital and Reserves
Called up share capital 1 1
Retained earnings 31,450 32,204
───────── ─────────
Equity attributable to owners of the company 31,451 32,205
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges her responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 13 August 2024
           
           
________________________________          
Ms. Anne Conaghan          
Director          
           



Solitair Unisex Hair Studio Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
Solitair Unisex Hair Studio Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 25 Main Street, Plumbridge, Omagh, Co Tyrone, BT79 8AA, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 January 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2024 2023
  Number Number
 
Average No of Employees 3 4
  ═════════ ═════════
       
4. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 February 2023 18,752 18,752
  ───────── ─────────
 
At 31 January 2024 18,752 18,752
  ───────── ─────────
Depreciation
At 1 February 2023 15,047 15,047
Charge for the financial year 926 926
  ───────── ─────────
At 31 January 2024 15,973 15,973
  ───────── ─────────
Net book value
At 31 January 2024 2,779 2,779
  ═════════ ═════════
At 31 January 2023 3,705 3,705
  ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 3,458 2,394
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Taxation  (Note 9) - 4,504
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank loan 3,031 2,955
Trade creditors 233 369
Taxation  (Note 9) 28 134
Other creditors 1,032 1,602
Accruals:
Pension accrual 160 211
Other accruals 1,400 1,400
  ───────── ─────────
  5,884 6,671
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 4,948 7,979
Director's loan accounts 2 1,394
  ───────── ─────────
  4,950 9,373
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 3,031 2,955
Repayable between one and two years 3,109 3,030
Repayable between two and five years 1,839 4,949
  ───────── ─────────
  7,979 10,934
  ═════════ ═════════
 
       
9. Taxation 2024 2023
  £ £
 
Debtors:
PAYE / NI - 4,504
  ═════════ ═════════
Creditors:
Corporation tax - 134
PAYE / NI 28 -
  ───────── ─────────
  28 134
  ═════════ ═════════
           
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 761 - 761 882
Charged to profit and loss (233) (2) (235) (121)
  ───────── ───────── ───────── ─────────
At financial year end 528 (2) 526 761
  ═════════ ═════════ ═════════ ═════════
           
11. Related party transactions
 
At the start of the year Solitair Unisex Hair Studio Ltd owed the director £1,394. During the year, the company borrowed £508 and repaid £1,900 to the director leaving an amount owed to the director of £2 (2023: £1,394) at the year end. This is included in the creditors section of the balance sheet.