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Company Registration No. 14170240 (England and Wales)
THE COLLECTIVE HAIR SALON LIMITED Unaudited accounts for the year ended 30 June 2024
THE COLLECTIVE HAIR SALON LIMITED Unaudited accounts Contents
Page
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THE COLLECTIVE HAIR SALON LIMITED Company Information for the year ended 30 June 2024
Directors
MELISSA PELLING MAX PELLING CHRISTOPHER DAVID GRAHAM
Company Number
14170240 (England and Wales)
Registered Office
UNIT 3 HOLME DRIVE SUDBROOKE LINCOLN LINCOLNSHIRE LN2 2QL ENGLAND
Accountants
CALCUL8 LIMITED 57 HIGH STREET SAXILBY LINCOLN LINCOLNSHIRE LN1 2HA
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THE COLLECTIVE HAIR SALON LIMITED Statement of financial position as at 30 June 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
34,576 
38,898 
Tangible assets
20,562 
22,623 
55,138 
61,521 
Current assets
Inventories
2,500 
5,000 
Cash at bank and in hand
11,406 
18,294 
13,906 
23,294 
Creditors: amounts falling due within one year
(12,878)
(10,056)
Net current assets
1,028 
13,238 
Total assets less current liabilities
56,166 
74,759 
Creditors: amounts falling due after more than one year
(39,781)
(55,220)
Provisions for liabilities
Deferred tax
(278)
- 
Net assets
16,107 
19,539 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
16,097 
19,529 
Shareholders' funds
16,107 
19,539 
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by
MELISSA PELLING Director Company Registration No. 14170240
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THE COLLECTIVE HAIR SALON LIMITED Notes to the Accounts for the year ended 30 June 2024
1
Statutory information
THE COLLECTIVE HAIR SALON LIMITED is a private company, limited by shares, registered in England and Wales, registration number 14170240. The registered office is UNIT 3 HOLME DRIVE, SUDBROOKE, LINCOLN, LINCOLNSHIRE, LN2 2QL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 30 June 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 14 June 2022. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is being written off over 10 years which is the term of the lease.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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THE COLLECTIVE HAIR SALON LIMITED Notes to the Accounts for the year ended 30 June 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2023
43,220 
At 30 June 2024
43,220 
Amortisation
At 1 July 2023
4,322 
Charge for the year
4,322 
At 30 June 2024
8,644 
Net book value
At 30 June 2024
34,576 
At 30 June 2023
38,898 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 July 2023
25,049 
Additions
1,789 
At 30 June 2024
26,838 
Depreciation
At 1 July 2023
2,426 
Charge for the year
3,850 
At 30 June 2024
6,276 
Net book value
At 30 June 2024
20,562 
At 30 June 2023
22,623 
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THE COLLECTIVE HAIR SALON LIMITED Notes to the Accounts for the year ended 30 June 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
410 
336 
Taxes and social security
4,068 
3,139 
Loans from directors
8,400 
6,581 
12,878 
10,056 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Loans from directors
39,781 
55,220 
8
Average number of employees
During the year the average number of employees was 2 (2023: 1).
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