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REGISTERED NUMBER: 06741790 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 October 2024

for

Carmelo Alessi Hairdressing Limited

Carmelo Alessi Hairdressing Limited (Registered number: 06741790)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Carmelo Alessi Hairdressing Limited

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: C Alessi
R Alessi





REGISTERED OFFICE: 13 Market Square
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BE





REGISTERED NUMBER: 06741790 (England and Wales)





ACCOUNTANTS: Connolly Accountants & Business Advisors Ltd
Chartered Certified Accountants
The Stable Yard
25-33 Vicarage Road
Stony Stratford
Milton Keynes
Buckinghamshire
MK11 1BN

Carmelo Alessi Hairdressing Limited (Registered number: 06741790)

Balance Sheet
31 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,638 11,528

CURRENT ASSETS
Stocks 9,000 9,000
Debtors 5 635 1,611
Cash at bank and in hand 158,493 135,922
168,128 146,533
CREDITORS
Amounts falling due within one year 6 43,213 30,516
NET CURRENT ASSETS 124,915 116,017
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,553

127,545

PROVISIONS FOR LIABILITIES 1,764 2,190
NET ASSETS 131,789 125,355

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 131,689 125,255
SHAREHOLDERS' FUNDS 131,789 125,355

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Carmelo Alessi Hairdressing Limited (Registered number: 06741790)

Balance Sheet - continued
31 OCTOBER 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 Board of Directors and authorised for issue on 16 January 2025 and were signed on its behalf by:





C Alessi - Director


Carmelo Alessi Hairdressing Limited (Registered number: 06741790)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Carmelo Alessi 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.

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.
Plant & machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Carmelo Alessi Hairdressing Limited (Registered number: 06741790)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provision of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is a contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from related companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised costs, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.


Carmelo Alessi Hairdressing Limited (Registered number: 06741790)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant & and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 November 2023 83 7,863 30,991 332 39,269
Additions - - - 1,466 1,466
At 31 October 2024 83 7,863 30,991 1,798 40,735
DEPRECIATION
At 1 November 2023 83 4,628 22,831 199 27,741
Charge for year - 1,767 2,040 549 4,356
At 31 October 2024 83 6,395 24,871 748 32,097
NET BOOK VALUE
At 31 October 2024 - 1,468 6,120 1,050 8,638
At 31 October 2023 - 3,235 8,160 133 11,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 635 1,611

Carmelo Alessi Hairdressing Limited (Registered number: 06741790)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 4,450 5,796
Taxation and social security 30,282 23,771
Other creditors 8,481 949
43,213 30,516

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 12,000 12,000
Between one and five years 1,000 13,000
13,000 25,000

8. PENSION COMMITMENTS

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. The assets of the scheme are held separately from those of the company in an independently administered fund.
Contributions totalling £415 (2023: £428) were payable to the fund at the balance sheet date and are included in other creditors.