REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
BLEND HAIR LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
BLEND HAIR LIMITED |
BLEND HAIR LIMITED (REGISTERED NUMBER: 13232495) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
Page |
Balance sheet | 1 |
Notes to the financial statements | 2 |
BLEND HAIR LIMITED (REGISTERED NUMBER: 13232495) |
BALANCE SHEET |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Share premium |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
BLEND HAIR LIMITED (REGISTERED NUMBER: 13232495) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
1. | Statutory information |
Blend Hair Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 13232495. The registered office address is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and the business address is 20B Bushmead Drive, Ringwood, Dorset, BH24 2HU. |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts receivable from the retail of hair products. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Computer equipment - 33% on cost |
Stocks |
Stock and Work In Progress are valued at the lower of cost and net realisable value. |
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 taxation |
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. |
Financial instruments |
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
BLEND HAIR LIMITED (REGISTERED NUMBER: 13232495) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
4. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 March 2023 |
Additions |
At 29 February 2024 |
Depreciation |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 17,395 | 36,257 |
Called up share capital not paid |
Prepayments and accrued income |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other loans |
Trade creditors |
VAT | 17,819 | 15,395 |
Accruals and deferred income |
7. | Called up share capital |
Allotted and issued: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 128 | 123 |
On 13 March 2023, 5 Ordinary shares were issued at a premium of £999 per share. |
BLEND HAIR LIMITED (REGISTERED NUMBER: 13232495) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
8. | Director's advances, credits and guarantees |
The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
At the balance sheet date the director, Mr Stelfox, owed the company £17,395. This balance was fully repaid within 9 months of the year end. |
9. | Ultimate controlling party |
The company is controlled by Mr P Singh Sandhu by virtue of his 78% ownership of the issued share capital. |