1 January 2023 false No description of principal activity Taxfiler 2024.6 04171001business:PrivateLimitedCompanyLtd2023-01-012023-12-31 041710012022-12-31 041710012023-01-012023-12-31 04171001business:AuditExempt-NoAccountantsReport2023-01-012023-12-31 04171001business:FilletedAccounts2023-01-012023-12-31 041710012023-12-31 04171001business:Director12023-01-012023-12-31 04171001business:RegisteredOffice2023-01-012023-12-31 041710012022-12-31 04171001core:WithinOneYear2023-12-31 04171001core:WithinOneYear2022-12-31 04171001core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 04171001core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 04171001core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 04171001core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 04171001core:PreviouslyStatedAmount2023-12-31 04171001core:PreviouslyStatedAmount2022-12-31 04171001business:SmallEntities2023-01-012023-12-31 04171001countries:EnglandWales2023-01-012023-12-31 04171001core:IntangibleAssetsOtherThanGoodwill2022-12-31 04171001core:IntangibleAssetsOtherThanGoodwill2023-12-31 04171001core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 04171001core:ComputerEquipment2022-12-31 04171001core:ComputerEquipment2023-12-31 04171001core:ComputerEquipment2023-01-012023-12-31 04171001business:OrdinaryShareClass12023-01-012023-12-31 04171001business:OrdinaryShareClass12022-01-012022-12-31 04171001business:OrdinaryShareClass22023-01-012023-12-31 04171001business:OrdinaryShareClass22022-01-012022-12-31 04171001business:AllOrdinaryShares2023-01-012023-12-31 04171001business:AllOrdinaryShares2022-01-012022-12-31 041710012022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 04171001 (England and Wales)
Hair Flair Limited Unaudited accounts for the year ended 31 December 2023
Hair Flair Limited Unaudited accounts Contents
Page
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Hair Flair Limited Company Information for the year ended 31 December 2023
Director
Mrs Alexandra Victoria Henrietta Malet
Company Number
04171001 (England and Wales)
Registered Office
c/o AccountsCo 47 Islington Park Street London N1 1QB
Accountants
AccountsCo 47 Islington Park Street London N1 1QB England
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Hair Flair Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
29,188 
42,430 
Tangible assets
- 
241 
29,188 
42,671 
Current assets
Inventories
105,973 
146,676 
Debtors
5,262 
16,216 
Cash at bank and in hand
8,136 
244,600 
119,371 
407,492 
Creditors: amounts falling due within one year
(4,323)
(82,931)
Net current assets
115,048 
324,561 
Net assets
144,236 
367,232 
Capital and reserves
Called up share capital
251 
251 
Profit and loss account
143,985 
366,981 
Shareholders' funds
144,236 
367,232 
For the year ending 31 December 2023 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 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 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 and authorised for issue on 7 October 2024 and were signed on its behalf by
Mrs Alexandra Victoria Henrietta Malet Director Company Registration No. 04171001
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Hair Flair Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Hair Flair Limited is a private company, limited by shares, registered in England and Wales, registration number 04171001. The registered office is c/o AccountsCo, 47 Islington Park Street, London, N1 1QB.
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
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
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: Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. In the previous financial statements, tangible fixed assets were depreciated at 25% per year on a reducing balance basis. The director has reviewed this policy and revised the depreciation policy so that assets are depreciated on a straight-line basis over 3 years. The director believes this represents a better reflection of the assets useful economic life
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably. Intangible assets comprise patents and trademarks. In the previous financial statements these assets were amortised on a straight line basis over 20 years. The director has reviewed the estimated useful economic life of these intangible assets and revised the amortisation policy so that they will be fully amortised by 31 December 2025 or the expiry of the patent if this is earlier. The director believes this represents a better reflection of the assets' useful economic life.
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.
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Hair Flair Limited Notes to the Accounts for the year ended 31 December 2023
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Deferred taxation
Deferred tax has not been provided for because of uncertainty regarding quantum and timing of future profitability.
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 or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
248,303 
At 31 December 2023
248,303 
Amortisation
At 1 January 2023
205,873 
Charge for the year
13,242 
At 31 December 2023
219,115 
Net book value
At 31 December 2023
29,188 
At 31 December 2022
42,430 
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Hair Flair Limited Notes to the Accounts for the year ended 31 December 2023
5
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
14,050 
At 31 December 2023
14,050 
Depreciation
At 1 January 2023
13,809 
Charge for the year
241 
At 31 December 2023
14,050 
Net book value
At 31 December 2023
- 
At 31 December 2022
241 
6
Inventories
2023 
2022 
£ 
£ 
Raw materials
105,973 
146,676 
105,973 
146,676 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
196 
4,620 
Other debtors
5,066 
11,596 
5,262 
16,216 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
180 
73,785 
Taxes and social security
1,486 
4,971 
Other creditors
2,657 
4,175 
4,323 
82,931 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
151 Ordinary of £1 each
151 
151 
100 A Ordinary of £1 each
100 
100 
251 
251 
10
Average number of employees
During the year the average number of employees was 1 (2022: 2).
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