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Company Registration No. 11217390 (England and Wales)
Libertes Hair & Beauty Ltd Unaudited accounts for the year ended 29 February 2024
Libertes Hair & Beauty Ltd Unaudited accounts Contents
Page
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Libertes Hair & Beauty Ltd Company Information for the year ended 29 February 2024
Director
Azra Reana Riaz
Company Number
11217390 (England and Wales)
Registered Office
858-860 Manchester Road Bradford BD5 8DJ
Accountants
JK Business Services Ltd Axwell House 2 Westerton Road Broxburn West Lothian EH52 5AU
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Libertes Hair & Beauty Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
4,400 
5,500 
Tangible assets
25,032 
33,376 
29,432 
38,876 
Current assets
Inventories
8,608 
7,361 
Debtors
- 
2,331 
Cash at bank and in hand
1,256 
2,442 
9,864 
12,134 
Creditors: amounts falling due within one year
(76,218)
(59,326)
Net current liabilities
(66,354)
(47,192)
Total assets less current liabilities
(36,922)
(8,316)
Creditors: amounts falling due after more than one year
(4,019)
(8,100)
Provisions for liabilities
Deferred tax
- 
(1,172)
Net liabilities
(40,941)
(17,588)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(40,942)
(17,589)
Shareholders' funds
(40,941)
(17,588)
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 members have 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 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 and authorised for issue on 14 October 2024 and were signed on its behalf by
Azra Reana Riaz Director Company Registration No. 11217390
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Libertes Hair & Beauty Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Libertes Hair & Beauty Ltd is a private company, limited by shares, registered in England and Wales, registration number 11217390. The registered office is 858-860 Manchester Road, Bradford, BD5 8DJ.
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.
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% Reducing Balance
Intangible fixed assets
Goodwill arising on the acquisition of the business is being written-off on a straight-line basis over its estimated useful life of 10 years.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Libertes Hair & Beauty Ltd Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
11,000 
At 29 February 2024
11,000 
Amortisation
At 1 March 2023
5,500 
Charge for the year
1,100 
At 29 February 2024
6,600 
Net book value
At 29 February 2024
4,400 
At 28 February 2023
5,500 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
46,066 
At 29 February 2024
46,066 
Depreciation
At 1 March 2023
12,690 
Charge for the year
8,344 
At 29 February 2024
21,034 
Net book value
At 29 February 2024
25,032 
At 28 February 2023
33,376 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
- 
2,331 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,600 
3,600 
VAT
2,017 
- 
Taxes and social security
2,350 
1,814 
Other creditors
12,911 
7,171 
Loans from directors
55,340 
45,541 
Accruals
- 
1,200 
76,218 
59,326 
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Libertes Hair & Beauty Ltd Notes to the Accounts for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
4,019 
8,100 
9
Transactions with related parties
During the year the company operated a loan account with its sole director. As shown in Note 6 above, the balance due to the director at the year-end was £55,340 (PY: £45,541). This loan is interest-free and has no set repayment date.
10
Average number of employees
During the year the average number of employees was 5 (2023: 6).
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