Acorah Software Products - Accounts Production 16.0.110 false true true 31 July 2023 1 August 2022 false 1 August 2023 31 July 2024 31 July 2024 08594552 Mr Michael Demetris Mr Vassos Kesta iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08594552 2023-07-31 08594552 2024-07-31 08594552 2023-08-01 2024-07-31 08594552 frs-core:CurrentFinancialInstruments 2024-07-31 08594552 frs-core:Non-currentFinancialInstruments 2024-07-31 08594552 frs-core:FurnitureFittings 2024-07-31 08594552 frs-core:FurnitureFittings 2023-08-01 2024-07-31 08594552 frs-core:FurnitureFittings 2023-07-31 08594552 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-07-31 08594552 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-08-01 2024-07-31 08594552 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-07-31 08594552 frs-core:PlantMachinery 2023-08-01 2024-07-31 08594552 frs-core:ShareCapital 2024-07-31 08594552 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 08594552 frs-bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 08594552 frs-bus:FilletedAccounts 2023-08-01 2024-07-31 08594552 frs-bus:SmallEntities 2023-08-01 2024-07-31 08594552 frs-bus:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 08594552 frs-bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 08594552 frs-bus:Director1 2023-08-01 2024-07-31 08594552 frs-bus:Director2 2023-08-01 2024-07-31 08594552 frs-core:CurrentFinancialInstruments 2 2024-07-31 08594552 frs-countries:EnglandWales 2023-08-01 2024-07-31 08594552 2022-07-31 08594552 2023-07-31 08594552 2022-08-01 2023-07-31 08594552 frs-core:CurrentFinancialInstruments 2023-07-31 08594552 frs-core:Non-currentFinancialInstruments 2023-07-31 08594552 frs-core:ShareCapital 2023-07-31 08594552 frs-core:RetainedEarningsAccumulatedLosses 2023-07-31 08594552 frs-core:CurrentFinancialInstruments 1 2023-07-31 08594552 frs-core:CurrentFinancialInstruments 2 2023-07-31
Registered number: 08594552
Hectik Hair Ltd
Financial Statements
For The Year Ended 31 July 2024
C.T. Accountants
63b Brighton Road
South Croydon
Surrey
CR2 6EE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08594552
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,430 10,205
1,430 10,205
CURRENT ASSETS
Stocks 5 1,227 1,609
Debtors 6 435 4,091
Cash at bank and in hand 763 25,659
2,425 31,359
Creditors: Amounts Falling Due Within One Year 7 (83,002 ) (72,229 )
NET CURRENT ASSETS (LIABILITIES) (80,577 ) (40,870 )
TOTAL ASSETS LESS CURRENT LIABILITIES (79,147 ) (30,665 )
Creditors: Amounts Falling Due After More Than One Year 8 (57,887 ) (66,500 )
NET LIABILITIES (137,034 ) (97,165 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (137,134 ) (97,265 )
SHAREHOLDERS' FUNDS (137,034) (97,165)
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For the year ending 31 July 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Demetris
Director
Mr Vassos Kesta
Director
29th October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hectik Hair Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08594552 . The registered office is 35 Market Square, Bromley, BR1 1NF.
2. Accounting Policies
2.1. 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.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form 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.
2.4. 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:
Leasehold Over useful life 20 years
Plant & Machinery 15% reducing balance
Fixtures & Fittings 15% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 7 6
7 6
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4. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 August 2023 12,863 5,259 18,122
Disposals (12,863 ) - (12,863 )
As at 31 July 2024 - 5,259 5,259
Depreciation
As at 1 August 2023 4,340 3,577 7,917
Provided during the period - 252 252
Disposals (4,340 ) - (4,340 )
As at 31 July 2024 - 3,829 3,829
Net Book Value
As at 31 July 2024 - 1,430 1,430
As at 1 August 2023 8,523 1,682 10,205
5. Stocks
2024 2023
£ £
Stock 1,227 1,609
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 435 492
Prepayments and accrued income - 349
Rent deposit - 3,250
435 4,091
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,784 4,854
Bank loans and overdrafts 9,215 9,000
Other taxes and social security 8,944 4,728
VAT 14,770 7,754
Other creditors and accruals 5,048 5,337
Associated companies 2,047 6,850
Directors' loan accounts 37,194 33,706
83,002 72,229
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8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 7,887 16,500
Directors loan account 50,000 50,000
57,887 66,500
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
During the year, the company made payment to Hair Hectik (Bromley) Ltd, a company in which both M Demetirs and V Kesta are directors and shareholders, amounting to £100 (2023: £130). The amount due to Hair Hectik (Bromley) Ltd as at 31st July 2024 was £2,047 (as at 31st July 2023: £2,147).
As at 31st July 2024, amount due to Hair Hectik (Academy) Ltd, a company in which both M Demtris and V Kesta are directors and shareholders, was £NIL (as at 31st July 2023: £4,702).
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