Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31322023-01-01falseNo description of principal activity38truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11114531 2023-01-01 2023-12-31 11114531 2022-01-01 2022-12-31 11114531 2023-12-31 11114531 2022-12-31 11114531 c:Director1 2023-01-01 2023-12-31 11114531 d:FurnitureFittings 2023-01-01 2023-12-31 11114531 d:FurnitureFittings 2023-12-31 11114531 d:FurnitureFittings 2022-12-31 11114531 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11114531 d:Goodwill 2023-01-01 2023-12-31 11114531 d:Goodwill 2023-12-31 11114531 d:Goodwill 2022-12-31 11114531 d:CurrentFinancialInstruments 2023-12-31 11114531 d:CurrentFinancialInstruments 2022-12-31 11114531 d:Non-currentFinancialInstruments 2023-12-31 11114531 d:Non-currentFinancialInstruments 2022-12-31 11114531 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11114531 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11114531 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11114531 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11114531 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 11114531 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 11114531 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 11114531 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 11114531 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 11114531 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 11114531 d:ShareCapital 2023-12-31 11114531 d:ShareCapital 2022-12-31 11114531 d:RetainedEarningsAccumulatedLosses 2023-12-31 11114531 d:RetainedEarningsAccumulatedLosses 2022-12-31 11114531 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11114531 c:OrdinaryShareClass1 2023-12-31 11114531 c:OrdinaryShareClass1 2022-12-31 11114531 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11114531 c:OrdinaryShareClass2 2023-12-31 11114531 c:OrdinaryShareClass2 2022-12-31 11114531 c:FRS102 2023-01-01 2023-12-31 11114531 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11114531 c:FullAccounts 2023-01-01 2023-12-31 11114531 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11114531 2 2023-01-01 2023-12-31 11114531 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11114531 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11114531










ELLIOTTS HAIRDRESSING LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ELLIOTTS HAIRDRESSING LIMITED
REGISTERED NUMBER: 11114531

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
40,147
48,707

Tangible assets
 5 
30,699
37,917

  
70,846
86,624

Current assets
  

Stocks
  
19,500
19,500

Debtors: amounts falling due within one year
 6 
10,112
9,722

Cash at bank and in hand
 7 
7,716
6,916

  
37,328
36,138

Creditors: amounts falling due within one year
 8 
(149,223)
(145,710)

Net current liabilities
  
 
 
(111,895)
 
 
(109,572)

Total assets less current liabilities
  
(41,049)
(22,948)

Creditors: amounts falling due after more than one year
 9 
(34,899)
(39,214)

  

Net liabilities
  
(75,948)
(62,162)


Capital and reserves
  

Called up share capital 
 11 
15
15

Profit and loss account
  
(75,963)
(62,177)

  
(75,948)
(62,162)



 
ELLIOTTS HAIRDRESSING LIMITED
REGISTERED NUMBER: 11114531
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 profit and loss account 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: 




Paul Marshall Elliott
Director

Date: 16 September 2024

The notes on  form part of these financial statements.


 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of the business is the service of hairdressing. Elliotts Hairdressing Limited is incorporated and domiciled in the UK. Its registered office is Belmont House, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG and its principal place of business is Deepwood, Lower Wood Road, Ludlow, Shropshire, SY8 2JQ. The companies registered number is 11114531.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

These accounts have been prepared on a going concern basis on the understanding that the director and financiers will continue to support the company.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.


 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.


 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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
-
Over 10 years

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.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 32 (2022 - 38).


 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
85,600



At 31 December 2023

85,600



Amortisation


At 1 January 2023
36,893


Charge for the year on owned assets
8,560



At 31 December 2023

45,453



Net book value



At 31 December 2023
40,147



At 31 December 2022
48,707




 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
72,177



At 31 December 2023

72,177



Depreciation


At 1 January 2023
34,260


Charge for the year on owned assets
7,218



At 31 December 2023

41,478



Net book value



At 31 December 2023
30,699



At 31 December 2022
37,917


6.


Debtors

2023
2022
£
£


Other debtors
10,112
9,722

10,112
9,722



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,716
6,916

Less: bank overdrafts
(9,839)
(9,627)

(2,123)
(2,711)



 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
9,839
9,627

Bank loans
18,129
29,985

Trade creditors
10,006
9,426

Other taxation and social security
106,755
89,866

Accruals and deferred income
4,494
6,806

149,223
145,710



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,899
39,214

34,899
39,214



 
ELLIOTTS HAIRDRESSING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
18,129
29,985


18,129
29,985

Amounts falling due 1-2 years

Bank loans
5,653
5,310


5,653
5,310

Amounts falling due 2-5 years

Bank loans
19,021
17,990


19,021
17,990

Amounts falling due after more than 5 years

Bank loans
10,225
15,913

10,225
15,913

53,028
69,198



11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10 (2022 - 10) Ordinary A shares of £1.00 each
10
10
5 (2022 - 5) Ordinary B shares of £1.00 each
5
5

15

15