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Registered Number: 07589553
England and Wales

 

 

 

NXS HAIR (UK) LTD


Abridged Accounts
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Report to the director on the preparation of the unaudited statutory accounts of NXS Hair (UK) Ltd for the year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NXS Hair (UK) Ltd for the year ended 30 April 2023 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at  https://www.accaglobal.com/gb/en/about-us/regulation/rulebook.html. This report is made solely to the Board of Directors of NXS Hair (UK) Ltd, as a body, in accordance with the terms of our engagement letter dated 07 February 2022. Our work has been undertaken solely to prepare for your approval the accounts of NXS Hair (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of NXS Hair (UK) Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NXS Hair (UK) Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NXS Hair (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of NXS Hair (UK) Ltd. You consider that NXS Hair (UK) Ltd is exempt from the statutory audit requirement for the year.     
We have not been instructed to carry out an audit or a review of the accounts of NXS Hair (UK) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts 30 April 2023.



....................................................

VF Accountants

34 Beclands Road
London
SW17 9TJ
10 October 2024
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 10,776    1,897 
10,776    1,897 
Current assets      
Stocks 86,516    71,531 
Debtors 22,345    20,984 
Cash at bank and in hand 53,095    46,931 
161,956    139,446 
Creditors: amount falling due within one year (131,051)   (100,248)
Net current assets 30,905    39,198 
 
Total assets less current liabilities 41,681    41,095 
Creditors: amount falling due after more than one year (25,923)   (33,682)
Net assets 15,758    7,413 
 

Capital and reserves
     
Called up share capital 4 1    1 
Profit and loss account 15,757    7,412 
Shareholders' funds 15,758    7,413 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 10 October 2024 and were signed by:


-------------------------------
Mr Johhny Yip
Director
2
General Information
NXS Hair (UK) Ltd is a private company, limited by shares, registered in England and Wales, registration number 07589553, registration address 81 Grosvenor Gardens, Woodford Green, London, IG80BD.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Plant and Machinery 25% Straight Line
Fixtures and Fittings 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 May 2022 7,006      532    7,538 
Additions 1,083    10,404    100    11,587 
Disposals      
At 30 April 2023 8,089    10,404    632    19,125 
Depreciation
At 01 May 2022 5,233      408    5,641 
Charge for year 1,110    1,538    60    2,708 
On disposals      
At 30 April 2023 6,343    1,538    468    8,349 
Net book values
Closing balance as at 30 April 2023 1,746    8,866    164    10,776 
Opening balance as at 01 May 2022 1,773      124    1,897 


4.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
1 Class A share of £1.00 each  
 

3