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Registered number: 09279427
HTN Beauty Ltd
Director's Report and
Unaudited Financial Statements
For The Year Ended 31 October 2023
Director's Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Director's Report 2
Accountants' Report 3
Profit and Loss Account 4
Balance Sheet 5
Statement of Changes in Equity 6
Notes to the Financial Statements 7—9
Page 1
Company Information
Director Miss Jenna Long
Company Number 09279427
Registered Office 9 Cyrils Way
St Albans
Hertfordshire
AL1 2JF
Business 9 Cyrils Way
St Albans
Hertfordshire
AL1 2JF
Accountants Brookman Limited
145/147 Hatfield Road
St. Albans
Hertfordshire
AL1 4JY
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Director's Report
The director presents her report and the financial statements for the year ended 31 October 2023.
Principal Activity
The company's principal activity continues to be that of Hairdressing and other beauty treatment
Directors
The director who held office during the year were as follows:
Miss Jenna Long
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Miss Jenna Long
Director
13 August 2024
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Accountants' Report
Report to the director on the preparation of the unaudited statutory accounts of HTN Beauty Ltd For The Year Ended 31 October 2023
To assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HTN Beauty Ltd which comprise the Profit and Loss Account, the Balance Sheet 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 http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of HTN Beauty Ltd , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of HTN Beauty Ltd and state those matters that we have agreed to state to the director of HTN Beauty Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HTN Beauty Ltd and its director as a body for our work or for this report.
It is your duty to ensure that HTN Beauty 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 or loss of HTN Beauty Ltd . You consider that HTN Beauty 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 HTN Beauty 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 financial statements.
Signed
Brooman Ltd
13 August 2024
145/147 Hatfield Road
St. Albans
Hertfordshire
AL1 4JY
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Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 16,151 65,648
Cost of sales (4,027 ) (9,644 )
GROSS PROFIT 12,124 56,004
Administrative expenses (9,254 ) (20,499 )
OPERATING PROFIT 2,870 35,505
Other interest receivable and similar income 975 1,155
Interest payable and similar charges (3,196 ) (1,720 )
PROFIT BEFORE TAXATION 649 34,940
Tax on Profit (193 ) (6,424 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 456 28,516
The notes on pages 7 to 9 form part of these financial statements.
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Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 431 800
431 800
CURRENT ASSETS
Debtors 4 59,061 49,574
Cash at bank and in hand 139 3,382
59,200 52,956
Creditors: Amounts Falling Due Within One Year 5 (50,358 ) (44,939 )
NET CURRENT ASSETS (LIABILITIES) 8,842 8,017
TOTAL ASSETS LESS CURRENT LIABILITIES 9,273 8,817
Creditors: Amounts Falling Due After More Than One Year 6 (8,267 ) (8,267 )
NET ASSETS 1,006 550
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 906 450
SHAREHOLDERS' FUNDS 1,006 550
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
On behalf of the board
Miss Jenna Long
Director
13 August 2024
The notes on pages 7 to 9 form part of these financial statements.
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Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 November 2021 100 434 534
Profit for the year and total comprehensive income - 28,516 28,516
Dividends paid - (28,500) (28,500)
As at 31 October 2022 and 1 November 2022 100 450 550
Profit for the year and total comprehensive income - 456 456
As at 31 October 2023 100 906 1,006
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33.33% straight line
1.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office 1 1
1 1
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3. Tangible Assets
Computer Equipment
£
Cost
As at 1 November 2022 1,108
As at 31 October 2023 1,108
Depreciation
As at 1 November 2022 308
Provided during the period 369
As at 31 October 2023 677
Net Book Value
As at 31 October 2023 431
As at 1 November 2022 800
4. Debtors
2023 2022
£ £
Due within one year
Other debtors 14,865 12,471
Director's loan account 44,196 37,103
59,061 49,574
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 3,344 3,200
Corporation tax 47,014 41,520
Other taxes and social security - 219
50,358 44,939
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bounceback loan 8,267 8,267
8,267 8,267
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7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Value Number 2023 2022
Allotted, called up and fully paid £ £ £
Ordinary Shares 1.000 100 100 100
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 November 2022 Amounts advanced Amounts repaid Amounts written off As at 31 October 2023
£ £ £ £ £
Miss Jenna Long 37,103 21,831 (14,738 ) - 44,196
The above loan is unsecured, interest free and repayable on demand.
9. Ultimate Controlling Party
The company's ultimate controlling party is Jenna Long by virtue of her ownership of 100% of the issued share capital in the company.
10. General Information
HTN Beauty Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09279427 . The registered office is 9 Cyrils Way, St Albans, Hertfordshire, AL1 2JF.
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