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REGISTERED NUMBER: 10971985 (England and Wales)















Financial Statements for the Year Ended 31 August 2023

for

Pinstone (T2) Hairdressing Limited

Pinstone (T2) Hairdressing Limited (Registered number: 10971985)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pinstone (T2) Hairdressing Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S M Mascolo-Tarbuck
P R Mascolo
P P Mascolo
C F Mascolo





REGISTERED OFFICE: Berkeley House
Amery Street
Alton
Hampshire
GU341HN





REGISTERED NUMBER: 10971985 (England and Wales)





AUDITORS: JWR Audit Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Pinstone (T2) Hairdressing Limited (Registered number: 10971985)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 994

CURRENT ASSETS
Stocks - 1,741
Debtors 5 923 8,679
Cash at bank and in hand 1,101 4,185
2,024 14,605
CREDITORS
Amounts falling due within one year 6 46,684 156,481
NET CURRENT LIABILITIES (44,660 ) (141,876 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(44,660

)

(140,882

)

PROVISIONS FOR LIABILITIES - 75
NET LIABILITIES (44,660 ) (140,957 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (44,760 ) (141,057 )
SHAREHOLDERS' FUNDS (44,660 ) (140,957 )

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 Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





S M Mascolo-Tarbuck - Director


Pinstone (T2) Hairdressing Limited (Registered number: 10971985)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Pinstone (T2) Hairdressing Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

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.

Significant judgements and estimates
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% 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.


Pinstone (T2) Hairdressing Limited (Registered number: 10971985)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Going concern
The company meets its day to day working capital requirements through group funding and Mascolo Limited, the immediate parent company, who also provide on going support for the company in the form of extended supplier credits. The directors consider that it is appropriate to prepare the financial statements on a going concern basis as they expect the company to be able to continue to trade within the facilities made available.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2022 1,290
Disposals (1,290 )
At 31 August 2023 -
DEPRECIATION
At 1 September 2022 296
Charge for year 149
Eliminated on disposal (445 )
At 31 August 2023 -
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 994

Pinstone (T2) Hairdressing Limited (Registered number: 10971985)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Other debtors 923 8,679

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 5,139 (3,055 )
Amounts owed to group undertakings 38,845 122,558
Taxation and social security - 5,122
Other creditors 2,700 31,856
46,684 156,481

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 33,000 37,987
Between one and five years 33,660 73,730
66,660 111,717

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
100 Share capital 1 £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

K S Wood (Senior Statutory Auditor)
for and on behalf of JWR Audit Limited

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mascolo Limited.