Acorah Software Products - Accounts Production 16.0.110 false true 28 February 2023 1 March 2022 false 1 March 2023 29 February 2024 29 February 2024 05716349 Mrs Sarah Middleton Sarah Middleton true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05716349 2023-02-28 05716349 2024-02-29 05716349 2023-03-01 2024-02-29 05716349 frs-core:CurrentFinancialInstruments 2024-02-29 05716349 frs-core:Non-currentFinancialInstruments 2024-02-29 05716349 frs-core:ComputerEquipment 2024-02-29 05716349 frs-core:ComputerEquipment 2023-03-01 2024-02-29 05716349 frs-core:ComputerEquipment 2023-02-28 05716349 frs-core:NetGoodwill 2024-02-29 05716349 frs-core:NetGoodwill 2023-03-01 2024-02-29 05716349 frs-core:NetGoodwill 2023-02-28 05716349 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-02-29 05716349 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05716349 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-02-28 05716349 frs-core:PlantMachinery 2024-02-29 05716349 frs-core:PlantMachinery 2023-03-01 2024-02-29 05716349 frs-core:PlantMachinery 2023-02-28 05716349 frs-core:ShareCapital 2024-02-29 05716349 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 05716349 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05716349 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 05716349 frs-bus:SmallEntities 2023-03-01 2024-02-29 05716349 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05716349 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05716349 1 2023-03-01 2024-02-29 05716349 frs-bus:Director1 2023-03-01 2024-02-29 05716349 frs-countries:EnglandWales 2023-03-01 2024-02-29 05716349 2022-02-28 05716349 2023-02-28 05716349 2022-03-01 2023-02-28 05716349 frs-core:CurrentFinancialInstruments 2023-02-28 05716349 frs-core:Non-currentFinancialInstruments 2023-02-28 05716349 frs-core:ShareCapital 2023-02-28 05716349 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 05716349
Precision Hair Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
C T B Book Keeping Limited
29 Looe Street
The Barbican
Plymouth
PL4 0EA
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05716349
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 47,563 48,062
47,563 48,062
CURRENT ASSETS
Stocks 6 5,776 5,371
Debtors 7 3,927 4,633
Cash at bank and in hand 14,165 14,039
23,868 24,043
Creditors: Amounts Falling Due Within One Year 8 (4,566 ) (2,529 )
NET CURRENT ASSETS (LIABILITIES) 19,302 21,514
TOTAL ASSETS LESS CURRENT LIABILITIES 66,865 69,576
Creditors: Amounts Falling Due After More Than One Year 9 (10,984 ) (12,707 )
NET ASSETS 55,881 56,869
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 55,880 56,868
SHAREHOLDERS' FUNDS 55,881 56,869
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For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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
Mrs Sarah Middleton
Director
18/10/2024
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
Precision Hair Limited Registered number 05716349 is a limited by shares company incorporated in England & Wales. The Registered Office is 29 Looe Street, The Barbican, Plymouth, PL4 0EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of ten years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. 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:
Freehold Infinite
Plant & Machinery 20% Reducing Balance
Computer Equipment 20% 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. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 4 4
5 5
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4. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 12,000
As at 29 February 2024 12,000
Amortisation
As at 1 March 2023 12,000
As at 29 February 2024 12,000
Net Book Value
As at 29 February 2024 -
As at 1 March 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2023 45,567 23,171 742 69,480
As at 29 February 2024 45,567 23,171 742 69,480
Depreciation
As at 1 March 2023 - 20,871 547 21,418
Provided during the period - 460 39 499
As at 29 February 2024 - 21,331 586 21,917
Net Book Value
As at 29 February 2024 45,567 1,840 156 47,563
As at 1 March 2023 45,567 2,300 195 48,062
6. Stocks
2024 2023
£ £
Stock 5,776 5,371
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,927 4,633
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 176 95
Corporation tax 2,267 604
VAT 2,123 1,830
4,566 2,529
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 10,695 12,362
Directors loan account 289 345
10,984 12,707
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Dividends paid to directors
12. Dividends
2024 2023
£ £
On equity shares:
Final dividend paid 7,250 3,300
13. Ultimate Controlling Party
The company's ultimate controlling party is Sarah Middleton by virtue of his ownership of 100% of the issued share capital in the company.
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