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Company Registration No. 01434821 (England and Wales)
Hair Professional Limited Unaudited accounts for the year ended 31 March 2024
Hair Professional Limited Unaudited accounts Contents
Page
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Hair Professional Limited Company Information for the year ended 31 March 2024
Directors
Mrs A J Mitchell Mr P Powell
Company Number
01434821 (England and Wales)
Registered Office
86 KING STREET MAIDSTONE KENT ME14 1BH
Accountants
Crittendens Accountants Featherstone House High Street Rochester Kent ME1 1DQ
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Hair Professional Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
750 
1,000 
Tangible assets
2,676 
3,568 
3,426 
4,568 
Current assets
Inventories
19,379 
18,211 
Debtors
635 
990 
Cash at bank and in hand
70,629 
71,001 
90,643 
90,202 
Creditors: amounts falling due within one year
(19,217)
(23,529)
Net current assets
71,426 
66,673 
Total assets less current liabilities
74,852 
71,241 
Creditors: amounts falling due after more than one year
- 
(9,304)
Net assets
74,852 
61,937 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
74,752 
61,837 
Shareholders' funds
74,852 
61,937 
For the year ending 31 March 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 11 July 2024 and were signed on its behalf by
Mrs A J Mitchell Director Company Registration No. 01434821
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Hair Professional Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Hair Professional Limited is a private company, limited by shares, registered in England and Wales, registration number 01434821. The registered office is 86 KING STREET, MAIDSTONE, KENT, ME14 1BH.
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.
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:
Plant & machinery
25% per annum on the reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
5,000 
At 31 March 2024
5,000 
Amortisation
At 1 April 2023
4,000 
Charge for the year
250 
At 31 March 2024
4,250 
Net book value
At 31 March 2024
750 
At 31 March 2023
1,000 
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Hair Professional Limited Notes to the Accounts for the year ended 31 March 2024
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2023
2,679 
3,340 
6,019 
At 31 March 2024
2,679 
3,340 
6,019 
Depreciation
At 1 April 2023
1,413 
1,038 
2,451 
Charge for the year
316 
576 
892 
At 31 March 2024
1,729 
1,614 
3,343 
Net book value
At 31 March 2024
950 
1,726 
2,676 
At 31 March 2023
1,266 
2,302 
3,568 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
488 
- 
Accrued income and prepayments
147 
990 
635 
990 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
- 
3,978 
VAT
7,884 
8,175 
Trade creditors
1,562 
1,583 
Taxes and social security
5,804 
6,186 
Other creditors
334 
155 
Loans from directors
862 
836 
Accruals
1,840 
1,750 
Deferred income
931 
866 
19,217 
23,529 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
9,304 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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Hair Professional Limited Notes to the Accounts for the year ended 31 March 2024
10
Average number of employees
During the year the average number of employees was 7 (2023: 8).
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