Caseware UK (AP4) 2023.0.135 2023.0.135 2022-12-312022-12-312022-01-01falseNo description of principal activity1919truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02526355 2022-01-01 2022-12-31 02526355 2021-01-01 2021-12-31 02526355 2022-12-31 02526355 2021-12-31 02526355 c:Director1 2022-01-01 2022-12-31 02526355 d:Buildings d:ShortLeaseholdAssets 2022-01-01 2022-12-31 02526355 d:Buildings d:ShortLeaseholdAssets 2022-12-31 02526355 d:Buildings d:ShortLeaseholdAssets 2021-12-31 02526355 d:FurnitureFittings 2022-01-01 2022-12-31 02526355 d:FurnitureFittings 2022-12-31 02526355 d:FurnitureFittings 2021-12-31 02526355 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02526355 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02526355 d:CurrentFinancialInstruments 2022-12-31 02526355 d:CurrentFinancialInstruments 2021-12-31 02526355 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02526355 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 02526355 d:ShareCapital 2022-12-31 02526355 d:ShareCapital 2021-12-31 02526355 d:OtherMiscellaneousReserve 2022-12-31 02526355 d:OtherMiscellaneousReserve 2021-12-31 02526355 d:RetainedEarningsAccumulatedLosses 2022-12-31 02526355 d:RetainedEarningsAccumulatedLosses 2021-12-31 02526355 c:FRS102 2022-01-01 2022-12-31 02526355 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 02526355 c:FullAccounts 2022-01-01 2022-12-31 02526355 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 02526355 2 2022-01-01 2022-12-31 02526355 e:PoundSterling 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 02526355









ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
REGISTERED NUMBER: 02526355

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible fixed assets
  
8,048
7,028

  
8,048
7,028

Current assets
  

Stocks
  
275,684
291,211

Debtors: amounts falling due within one year
 5 
24,818,596
17,819,501

Cash at bank and in hand
  
258,653
158,899

  
25,352,933
18,269,611

Creditors: amounts falling due within one year
 6 
(26,114,294)
(18,953,492)

Net current liabilities
  
 
 
(761,361)
 
 
(683,881)

Total assets less current liabilities
  
(753,313)
(676,853)

  

Net liabilities
  
(753,313)
(676,853)


Capital and reserves
  

Called up share capital 
  
2
2

Other reserves
  
9,094
9,094

Profit and loss account
  
(762,409)
(685,949)

  
(753,313)
(676,853)


Page 1

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
REGISTERED NUMBER: 02526355
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2022

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 comprehensive income 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: 




C A Howell
Director

Date: 23 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Advanced Hair Studios (International) Limited is a private company limited by shares and incorporated in England. The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The principal activity of the company continued to be that of the provision of hair replacement services and the administration of franchises.

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

The financial statements have been prepared on the going concern basis. The company is
dependent on the shareholders for financial support. As at September 2024, the shareholders have confirmed that they will provide adequate finance to enable the company to continue in operational existence.
Therefore, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Page 3

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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.

Page 4

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Short-term leasehold property
-
10% Straight line
Fixtures and fittings
-
20% / 33% Straight line

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.

 
2.5

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 reporting 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.

 
2.6

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Page 5

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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

Interest income

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


3.


Employees

The average monthly number of employees, including directors, during the year was 19 (2021 - 19).


4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 January 2022
282,017
215,288
497,305


Additions
-
3,497
3,497



At 31 December 2022

282,017
218,785
500,802



Depreciation


At 1 January 2022
282,017
208,260
490,277


Charge for the year on owned assets
-
2,477
2,477



At 31 December 2022

282,017
210,737
492,754



Net book value



At 31 December 2022
-
8,048
8,048



At 31 December 2021
-
7,028
7,028

Page 6

 
ADVANCED HAIR STUDIOS (INTERNATIONAL) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Debtors

2022
2021
£
£


Trade debtors
24,106,981
72,647

Amounts owed by group undertakings
-
17,109,955

Other debtors
703,589
636,135

Prepayments and accrued income
8,026
764

24,818,596
17,819,501



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
2,702,598
2,196,169

Amounts owed to group undertakings
22,370,942
16,170,924

Other taxation and social security
121,441
146,259

Other creditors
896,780
416,781

Accruals and deferred income
22,533
23,359

26,114,294
18,953,492



7.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £44,241 (2021: £40,000). Contributions totaling £3,056 (2021: £3,049) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 7