Hair By Imad Ltd
Registered number: 09912463
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,820 3,760
Current assets
Debtors 4 47,013 100
Cash at bank and in hand 10,170 157,127
57,183 157,227
Creditors: amounts falling due within one year 5 (39,932) (152,267)
Net current assets 17,251 4,960
Net assets 20,071 8,720
Capital and reserves
Called up share capital 100 100
Profit and loss account 19,971 8,620
Shareholder's funds 20,071 8,720
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 member has 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.
Imad Khalil Guli
Director
Approved by the board on 17 September 2024
Hair By Imad Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 21,589
At 31 December 2023 21,589
Depreciation
At 1 January 2023 17,829
Charge for the year 940
At 31 December 2023 18,769
Net book value
At 31 December 2023 2,820
At 31 December 2022 3,760
4 Debtors 2023 2022
£ £
Other debtors 46,913 -
Other debtors 100 100
47,013 100
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,750 19,670
Net wage 2,106 2,292
Corporation tax 14,415 14,760
Other taxes and social security costs 5,661 302
Other creditors - 115,243
39,932 152,267
6 Other information
Hair By Imad Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 City Point
Friars Alley
Lichfield
West Midlands
WS13 6QB
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