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REGISTERED NUMBER: 05895980 (England and Wales)















SOUL HAIRDRESSING LIMITED

Unaudited Financial Statements For The Year Ended 31 December 2023






SOUL HAIRDRESSING LIMITED (REGISTERED NUMBER: 05895980)






Contents of the Financial Statements
For The Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

SOUL HAIRDRESSING LIMITED

Company Information
For The Year Ended 31 December 2023







DIRECTOR: A Davison





SECRETARY:





REGISTERED OFFICE: 7 Monks Park Road
Newcastle Upon Tyne
Tyne and Wear
NE12 8ZF





REGISTERED NUMBER: 05895980 (England and Wales)





ACCOUNTANTS: Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD

SOUL HAIRDRESSING LIMITED (REGISTERED NUMBER: 05895980)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,311 10,628
Tangible assets 5 754 1,094
7,065 11,722

CURRENT ASSETS
Debtors 6 19 6,018
Cash at bank and in hand 20,645 6,554
20,664 12,572
CREDITORS
Amounts falling due within one year 7 32,410 6,546
NET CURRENT (LIABILITIES)/ASSETS (11,746 ) 6,026
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,681

)

17,748

CREDITORS
Amounts falling due after more than one
year

8

-

24,744
NET LIABILITIES (4,681 ) (6,996 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (4,683 ) (6,998 )
SHAREHOLDERS' FUNDS (4,681 ) (6,996 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

SOUL HAIRDRESSING LIMITED (REGISTERED NUMBER: 05895980)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:





A Davison - Director


SOUL HAIRDRESSING LIMITED (REGISTERED NUMBER: 05895980)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Soul Hairdressing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant estimates
There were no estimates made that were significant enough to warrant disclosure.

Turnover
Turnover is stated gross of value added tax - the company is no longer VAT registered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty five years.

Goodwill that was purchased in 2011 is being amortised evenly over its estimated useful life of twenty-five years. The Director is aware that this policy does not fall in-line with recommended accounting standards. In carrying out an impairment review the Director deemed that the carrying value is accurate.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Significant judgements
There were no judgements made that were significant enough to warrant disclosure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

SOUL HAIRDRESSING LIMITED (REGISTERED NUMBER: 05895980)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 20,444
AMORTISATION
At 1 January 2023 9,816
Charge for year 4,317
At 31 December 2023 14,133
NET BOOK VALUE
At 31 December 2023 6,311
At 31 December 2022 10,628

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 515 1,380 5,060 6,955
DEPRECIATION
At 1 January 2023 393 1,286 4,182 5,861
Charge for year 31 19 290 340
At 31 December 2023 424 1,305 4,472 6,201
NET BOOK VALUE
At 31 December 2023 91 75 588 754
At 31 December 2022 122 94 878 1,094

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 6,000
Other debtors 19 18
19 6,018

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 37
Taxation and social security 1,605 (718 )
Other creditors 30,805 7,227
32,410 6,546

SOUL HAIRDRESSING LIMITED (REGISTERED NUMBER: 05895980)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Included in other creditors are amounts owed to the Director, this year he was owed £32,483 (7,735- 2022).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 24,744

Included in other creditors are family loans, this year they were owed £nil (£24,744 -2022).

9. SECURED DEBTS

A bank loan and bank overdraft facility made available to the company are secured by way of a Director's personal guarantee.

10. FINANCIAL INSTRUMENTS

Loans made to the company are valued at the carrying amount which is determined deducting capital repayments and by adding interest calculated using the effective interest method on an actuarial basis.

11. RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities.

SOUL HAIRDRESSING LIMITED

Report of the Accountants to the Director of
Soul Hairdressing Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Sadler Joyce Ltd
Chartered Certified Accountant
18 Norham Road
Whitley Bay
Tyne and Wear
NE26 2SD


6 August 2024