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COMPANY REGISTRATION NUMBER: 10953677
RI RI HAIR LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 January 2024
RI RI HAIR LIMITED
STATEMENT OF FINANCIAL POSITION
31 January 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
440,199
17,813
CURRENT ASSETS
Stocks
165,000
142,192
Debtors
6
4,227
14,040
Cash at bank and in hand
124,735
157,701
---------
---------
293,962
313,933
CREDITORS: amounts falling due within one year
7
( 234,159)
( 87,686)
---------
---------
NET CURRENT ASSETS
59,803
226,247
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
500,002
244,060
CREDITORS: amounts falling due after more than one year
8
( 289,758)
( 33,390)
PROVISIONS
( 1,639)
---------
---------
NET ASSETS
208,605
210,670
---------
---------
CAPITAL AND RESERVES
Called up share capital
10
10
Profit and loss account
208,595
210,660
---------
---------
SHAREHOLDERS FUNDS
208,605
210,670
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
RI RI HAIR LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
M C Pett
Director
Company registration number: 10953677
RI RI HAIR LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jamesmead Long Green, Nazeing, Waltham Abbey, United Kingdom, EN9 2LU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied,exclusive of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 12 (2023: 7 ).
5. TANGIBLE ASSETS
Freehold property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2023
45,729
4,727
50,456
Additions
428,655
1,390
430,045
---------
--------
-------
---------
At 31 January 2024
428,655
45,729
6,117
480,501
---------
--------
-------
---------
Depreciation
At 1 February 2023
29,804
2,839
32,643
Charge for the year
2,858
3,981
820
7,659
---------
--------
-------
---------
At 31 January 2024
2,858
33,785
3,659
40,302
---------
--------
-------
---------
Carrying amount
At 31 January 2024
425,797
11,944
2,458
440,199
---------
--------
-------
---------
At 31 January 2023
15,925
1,888
17,813
---------
--------
-------
---------
6. DEBTORS
2024
2023
£
£
Trade debtors
10,076
Other debtors
4,227
3,964
-------
--------
4,227
14,040
-------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
33,996
Trade creditors
53,551
38,285
Corporation tax
19,035
13,574
Social security and other taxes
68,363
35,332
Other creditors
54,234
75
Other creditors
4,980
420
---------
--------
234,159
87,686
---------
--------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
289,758
33,390
---------
--------