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REGISTERED NUMBER: SC418092 (Scotland)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Ryde Hairdressing Limited

Ryde Hairdressing Limited (Registered number: SC418092)






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 Accountants' Report 7

Ryde Hairdressing Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mrs Jennifer Morrison





REGISTERED OFFICE: 413 Clarkston Road
Glasgow
G44 3LL





REGISTERED NUMBER: SC418092 (Scotland)





ACCOUNTANTS: WALLACE BARRON
CHARTERED ACCOUNTANTS
15 Sandpiper Road
Lochwinnoch
PA12 4NB

Ryde Hairdressing Limited (Registered number: SC418092)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 26,760 3,493

CURRENT ASSETS
Stocks 1,650 1,529
Debtors 5 8,821 6,062
Cash at bank and in hand 3,865 18,467
14,336 26,058
CREDITORS
Amounts falling due within one year 6 11,331 8,638
NET CURRENT ASSETS 3,005 17,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,765

20,913

CREDITORS
Amounts falling due after more than one year 7 52,159 46,629
NET LIABILITIES (22,394 ) (25,716 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (22,494 ) (25,816 )
SHAREHOLDERS' FUNDS (22,394 ) (25,716 )

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.

Ryde Hairdressing Limited (Registered number: SC418092)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





Mrs Jennifer Morrison - Director


Ryde Hairdressing Limited (Registered number: SC418092)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Ryde Hairdressing Limited is a private company, limited by shares , registered in Scotland. 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.
Fixtures and fittings - 10% on cost
Computer equipment - 10% on cost

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 Statement of Income and Retained Earnings, 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.

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.

Ryde Hairdressing Limited (Registered number: SC418092)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 55,481 7,989 63,470
Additions 23,910 - 23,910
Disposals (53,035 ) (4,003 ) (57,038 )
At 29 February 2024 26,356 3,986 30,342
DEPRECIATION
At 1 March 2023 53,855 6,122 59,977
Charge for year 244 399 643
Eliminated on disposal (53,035 ) (4,003 ) (57,038 )
At 29 February 2024 1,064 2,518 3,582
NET BOOK VALUE
At 29 February 2024 25,292 1,468 26,760
At 28 February 2023 1,626 1,867 3,493

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
VAT 6,494 1,978
Prepayments and accrued income 2,327 4,084
8,821 6,062

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,293 8,000
Social security and other taxes (2,771 ) (2,703 )
Pension contributions 103 102
Directors' loan accounts 1,912 1,912
Accrued expenses 1,794 1,327
11,331 8,638

Ryde Hairdressing Limited (Registered number: SC418092)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 2-5 years 24,998 25,333
Other loans 27,161 21,296
52,159 46,629

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £100 100 100

9. RELATED PARTY DISCLOSURES

The Director's loan of £1,912 (2023 - £1,912) represents capital loaned to the company by the director less amounts repaid. This loan is interest free and there are no fixed terms of repayment.

Other loans of £27,161 (2023 - £21,296) include capital loaned to the company by close family members less amounts repaid. These loans attract interest at 5% and there are no fixed terms for repayment.

The controlling party is Mrs Jennifer Morrison.

10. GOING CONCERN

The company remains dependent on the ongoing support of the director and close family members, who provided loan capital. The director has confirmed that she and the others concerned have agreed to continue supporting the company for the foreseeable future and, accordingly, the accounts have been prepared on a going concern basis.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Ryde Hairdressing Limited

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 Ryde Hairdressing Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Ryde Hairdressing Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Ryde Hairdressing Limited and state those matters that we have agreed to state to the director of Ryde Hairdressing Limited in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. 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 Ryde Hairdressing Limited 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 Ryde Hairdressing Limited. You consider that Ryde Hairdressing Limited 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 Ryde Hairdressing Limited. 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.






WALLACE BARRON
CHARTERED ACCOUNTANTS
15 Sandpiper Road
Lochwinnoch
PA12 4NB


Date: ............. November 2024