Registered number
06893658
Sculptors Hair Company Limited
Filleted Accounts
31 March 2024
Sculptors Hair Company Limited
Registered number: 06893658
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 154,685 155,106
Current assets
Stocks 4,000 5,000
Debtors 5 - 163
Cash at bank and in hand 54,897 44,634
58,897 49,797
Creditors: amounts falling due within one year 6 (69,936) (82,262)
Net current liabilities (11,039) (32,465)
Net assets 143,646 122,641
Capital and reserves
Called up share capital 2 2
Profit and loss account 143,644 122,639
Shareholders' funds 143,646 122,641
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 members have 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.
………………………………
G Stanco
Director
Approved by the board on 9 October 2024
Sculptors Hair Company Limited
Notes to the Accounts
for the year ended 31 March 2024
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 (as applied to small entities by section 1A of the standard).
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
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 50,000
At 31 March 2024 50,000
Amortisation
At 1 April 2023 50,000
At 31 March 2024 50,000
Net book value
At 31 March 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 153,422 41,077 194,499
At 31 March 2024 153,422 41,077 194,499
Depreciation
At 1 April 2023 - 39,393 39,393
Charge for the year - 421 421
At 31 March 2024 - 39,814 39,814
Net book value
At 31 March 2024 153,422 1,263 154,685
At 31 March 2023 153,422 1,684 155,106
5 Debtors 2024 2023
£ £
Other debtors - 163
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts - 15,965
Trade creditors 5,802 9,496
Directors Account 22,267 19,369
Taxation and social security costs 40,233 36,667
Other creditors 1,634 765
69,936 82,262
7 Other information
Sculptors Hair Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
1B Exchange Parade
Lake Street
Leighton Buzzard
Bedfordshire
LU7 1TR
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