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REGISTERED NUMBER: 13897978 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

PENGUIN HAIR & BEAUTY LTD

PENGUIN HAIR & BEAUTY LTD (REGISTERED NUMBER: 13897978)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

PENGUIN HAIR & BEAUTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Mrs L D L Edginton





REGISTERED OFFICE: 8 Middle Row
Chipping Norton
Oxon
OX7 5NH





REGISTERED NUMBER: 13897978 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT

PENGUIN HAIR & BEAUTY LTD (REGISTERED NUMBER: 13897978)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,180 15,487

CURRENT ASSETS
Stocks 1,039 -
Debtors 5 1,250 1,350
Cash at bank 6,601 4,260
8,890 5,610
CREDITORS
Amounts falling due within one year 6 13,732 19,676
NET CURRENT LIABILITIES (4,842 ) (14,066 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,338

1,421

PROVISIONS FOR LIABILITIES 7 2,393 609
NET ASSETS 3,945 812

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 3,943 810
3,945 812

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PENGUIN HAIR & BEAUTY LTD (REGISTERED NUMBER: 13897978)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2024 and were signed by:





Mrs L D L Edginton - Director


PENGUIN HAIR & BEAUTY LTD (REGISTERED NUMBER: 13897978)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Penguin Hair & Beauty Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENGUIN HAIR & BEAUTY LTD (REGISTERED NUMBER: 13897978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 3,814 12,163 2,890 1,020 19,887
Disposals - (2,002 ) - (170 ) (2,172 )
At 29 February 2024 3,814 10,161 2,890 850 17,715
DEPRECIATION
At 1 March 2023 381 3,041 723 255 4,400
Charge for year 344 1,655 541 138 2,678
Eliminated on disposal - (501 ) - (42 ) (543 )
At 29 February 2024 725 4,195 1,264 351 6,535
NET BOOK VALUE
At 29 February 2024 3,089 5,966 1,626 499 11,180
At 28 February 2023 3,433 9,122 2,167 765 15,487

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 100
Other debtors 1,250 1,250
1,250 1,350

PENGUIN HAIR & BEAUTY LTD (REGISTERED NUMBER: 13897978)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 298 -
Tax 221 -
Social security and other taxes 3,716 (54 )
Other creditors 966 1,172
Directors' current accounts 7,451 17,478
Accrued expenses 1,080 1,080
13,732 19,676

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 2,393 609

Deferred
tax
£   
Balance at 1 March 2023 609
Provided during year 1,784
Balance at 29 February 2024 2,393

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
PENGUIN HAIR & BEAUTY LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Penguin Hair & Beauty Ltd for the year ended 29 February 2024 which comprise the Income Statement, 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/rulebook.

This report is made solely to the director of Penguin Hair & Beauty Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Penguin Hair & Beauty Ltd and state those matters that we have agreed to state to the director of Penguin Hair & Beauty Ltd in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Penguin Hair & Beauty Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Penguin Hair & Beauty Ltd. You consider that Penguin Hair & 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 financial statements of Penguin Hair & 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 statutory financial statements.






Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT


26 November 2024