Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 10372018 Dr R R Reddy iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10372018 2022-12-31 10372018 2023-12-31 10372018 2023-01-01 2023-12-31 10372018 frs-core:CurrentFinancialInstruments 2023-12-31 10372018 frs-core:Non-currentFinancialInstruments 2023-12-31 10372018 frs-core:ComputerEquipment 2023-12-31 10372018 frs-core:ComputerEquipment 2023-01-01 2023-12-31 10372018 frs-core:ComputerEquipment 2022-12-31 10372018 frs-core:FurnitureFittings 2023-12-31 10372018 frs-core:FurnitureFittings 2023-01-01 2023-12-31 10372018 frs-core:FurnitureFittings 2022-12-31 10372018 frs-core:MotorVehicles 2023-12-31 10372018 frs-core:MotorVehicles 2023-01-01 2023-12-31 10372018 frs-core:MotorVehicles 2022-12-31 10372018 frs-core:PlantMachinery 2023-12-31 10372018 frs-core:PlantMachinery 2023-01-01 2023-12-31 10372018 frs-core:PlantMachinery 2022-12-31 10372018 frs-core:SharePremium 2023-12-31 10372018 frs-core:ShareCapital 2023-12-31 10372018 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 10372018 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10372018 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 10372018 frs-bus:SmallEntities 2023-01-01 2023-12-31 10372018 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10372018 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 10372018 frs-core:ProvisionsDeferredTax 2023-12-31 10372018 frs-core:CostValuation 2022-12-31 10372018 frs-core:AdditionsToInvestments 2023-12-31 10372018 frs-core:DisposalsRepaymentsInvestments 2023-12-31 10372018 frs-core:CostValuation 2023-12-31 10372018 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 10372018 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments 2023-12-31 10372018 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 10372018 frs-core:ListedExchangeTraded 2023-12-31 10372018 frs-core:ListedExchangeTraded 2022-12-31 10372018 frs-core:CostValuation frs-core:ListedExchangeTraded 2022-12-31 10372018 frs-core:AdditionsToInvestments frs-core:ListedExchangeTraded 2023-12-31 10372018 frs-core:DisposalsRepaymentsInvestments frs-core:ListedExchangeTraded 2023-12-31 10372018 frs-core:CostValuation frs-core:ListedExchangeTraded 2023-12-31 10372018 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2022-12-31 10372018 frs-core:ImpairmentReversalProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 10372018 frs-core:ProvisionsForImpairmentInvestments frs-core:ListedExchangeTraded 2023-12-31 10372018 frs-bus:Director1 2023-01-01 2023-12-31 10372018 frs-bus:Director1 2022-12-31 10372018 frs-bus:Director1 2023-12-31 10372018 frs-core:CurrentFinancialInstruments 4 2023-12-31 10372018 frs-countries:EnglandWales 2023-01-01 2023-12-31 10372018 2021-12-31 10372018 2022-12-31 10372018 2022-01-01 2022-12-31 10372018 frs-core:CurrentFinancialInstruments 2022-12-31 10372018 frs-core:Non-currentFinancialInstruments 2022-12-31 10372018 frs-core:SharePremium 2022-12-31 10372018 frs-core:ShareCapital 2022-12-31 10372018 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 10372018 frs-core:ProvisionsDeferredTax 2022-12-31 10372018 frs-core:CurrentFinancialInstruments 4 2022-12-31
Registered number: 10372018
Restorehairclinics Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Goldwyns London LLP
Unaudited Financial Statements
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 10372018
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 212,612 86,692
Investments 4 2,159,700 2,617,961
2,372,312 2,704,653
CURRENT ASSETS
Debtors 5 3,597,168 2,139,058
Cash at bank and in hand 127,065 637,549
3,724,233 2,776,607
Creditors: Amounts Falling Due Within One Year 6 (966,653 ) (1,218,987 )
NET CURRENT ASSETS (LIABILITIES) 2,757,580 1,557,620
TOTAL ASSETS LESS CURRENT LIABILITIES 5,129,892 4,262,273
Creditors: Amounts Falling Due After More Than One Year 7 (13,500 ) (109,645 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (16,025 ) (16,472 )
NET ASSETS 5,100,367 4,136,156
CAPITAL AND RESERVES
Called up share capital 9 1 1
Share premium account 999 999
Income Statement 5,099,367 4,135,156
SHAREHOLDERS' FUNDS 5,100,367 4,136,156
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For the year ending 31 December 2023 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 his 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 Income Statement.
On behalf of the board
Dr R R Reddy
Director
11/12/2024
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.

The principle accounting policies adopted are set below.
1.2. Going Concern Disclosure
The director has considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The Director has also pledged his financial support to assist with this if required. On this basis, the director will continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Plant & Machinery 33% Straight Line
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
Computer Equipment 33% Straight Line
Investments - Other
Investments entered into by the company being for high value watches purchased individually for eventual resale, are initially measured at cost. These items are not subject to depreciation or impairment review but rather revalued individually every three years so as to record their fair value in the accounts. 
On revaluation, If the individual assets' carrying amount is increased, the increase is recognised in other comprehensive income and accumulated in equity. However, this increase shall firtsly be recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss.
The decrease of an individual asset carrying amount as a result of a revaluation shall be recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity, in respect of that asset. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments - Listed
Investments in listed and unlisted company shares whose market value can be reliably determined are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. For unlisted investments where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
1.5. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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1.6. 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 statement of financial position date.

Deferred Tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7. Pensions
The company operates a defined pension contribution scheme and also makes contributions towards the director's personal pension scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
1.8. Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.

The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Accrued Expenditure

The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 5 4
5 4
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3. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 January 2023 35,753 78,182 14,089 6,960 134,984
Additions 27,152 153,701 18,996 2,698 202,547
As at 31 December 2023 62,905 231,883 33,085 9,658 337,531
Depreciation
As at 1 January 2023 20,028 19,546 2,593 6,125 48,292
Provided during the period 17,235 53,084 4,574 1,734 76,627
As at 31 December 2023 37,263 72,630 7,167 7,859 124,919
Net Book Value
As at 31 December 2023 25,642 159,253 25,918 1,799 212,612
As at 1 January 2023 15,725 58,636 11,496 835 86,692
4. Investments
Listed Other Total
£ £ £
Cost
As at 1 January 2023 1,330,100 1,321,315 2,651,415
Additions - 533,840 533,840
Disposals (1,007,267 ) - (1,007,267 )
As at 31 December 2023 322,833 1,855,155 2,177,988
Provision
As at 1 January 2023 33,454 - 33,454
Reversal of past impairments (15,166 ) - (15,166 )
As at 31 December 2023 18,288 - 18,288
Net Book Value
As at 31 December 2023 304,545 1,855,155 2,159,700
As at 1 January 2023 1,296,646 1,321,315 2,617,961
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 299,300 -
Prepayments and accrued income 2,499 -
Other debtors 2,942,980 1,640,140
Pension liability overpaid 139 416
Director's loan account 352,250 498,502
3,597,168 2,139,058
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6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 325,736 195,575
Corporation tax 290,306 479,904
Other taxes and social security 8,631 2,200
Other creditors - 908
Amounts owed to connected undertakings 340,000 535,000
Accruals and deferred income 1,980 5,400
966,653 1,218,987
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 13,500 109,645
13,500 109,645
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Deferred Tax 16,025 16,472
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
The nominal value per share is £0.01. As at the year-end, there are 100 Ordinary shares in issue.
10. Pension Commitments
The company operates a defined contribution pension scheme for directors and staff. The assets of the scheme are held separately from those of the company in an independently administered fund. At the statement of financial position date, overpaid contributions to the fund amounted to £139 and have been recorded in debtors.
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Dr Raghu Reddy 498,503 509,329 (655,582 ) - 352,250
The above outstanding amounts are to be repaid within nine months of the the year-end.
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12. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 1,000 2,000
1,000 2,000
13. Related Party Transactions
As at the year-end, the directors' loan account balance of Dr R R Reddy (the sole director and shareholder of the company) is £352,273. This amount is a current asset, of which interest is charged at a rate of 2.25% per annum on any overdrawn balance in the year that is above £10,000. This outstanding amount will be repaid to the company within nine months of the year-end.
As at the year-end, the company owed Cosmesis Global Limited, a company related via common control and directorship, £340,000. This amount is a current liability, interest free and repayable on demand.
14. General Information
Restorehairclinics Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10372018 . The registered office is 2nd Floor 107 Harley Street, London, W1G 6AL.
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