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COMPANY REGISTRATION NUMBER: 08644331
Andrea Kirkham Hairdressing Limited
Filleted Unaudited Financial Statements
31 August 2024
Andrea Kirkham Hairdressing Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
3,836
3,506
Current assets
Stocks
680
600
Debtors
7
1,232
17,830
Cash at bank and in hand
20,548
5,915
--------
--------
22,460
24,345
Creditors: amounts falling due within one year
8
7,702
8,371
--------
--------
Net current assets
14,758
15,974
--------
--------
Total assets less current liabilities
18,594
19,480
Creditors: amounts falling due after more than one year
9
8,767
10,608
--------
--------
Net assets
9,827
8,872
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
9,727
8,772
-------
-------
Shareholders funds
9,827
8,872
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Andrea Kirkham Hairdressing Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
Miss A M Kirkham
Director
Company registration number: 08644331
Andrea Kirkham Hairdressing Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 Ruabon Road, Wrexham, LL13 7PB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents amounts charged during the year for providing hair and beauty treatments.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
straightline over three years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where 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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings. Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
8,500
-------
Amortisation
At 1 September 2023 and 31 August 2024
8,500
-------
Carrying amount
At 31 August 2024
-------
At 31 August 2023
-------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 September 2023
2,439
8,378
10,817
Additions
2,288
2,288
Disposals
( 552)
( 1,408)
( 1,960)
-------
-------
--------
At 31 August 2024
1,887
9,258
11,145
-------
-------
--------
Depreciation
At 1 September 2023
1,493
5,818
7,311
Charge for the year
203
1,088
1,291
Disposals
( 417)
( 876)
( 1,293)
-------
-------
--------
At 31 August 2024
1,279
6,030
7,309
-------
-------
--------
Carrying amount
At 31 August 2024
608
3,228
3,836
-------
-------
--------
At 31 August 2023
946
2,560
3,506
-------
-------
--------
7. Debtors
2024
2023
£
£
Trade debtors
874
664
Other debtors
358
17,166
-------
--------
1,232
17,830
-------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,450
3,450
Trade creditors
31
Social security and other taxes
2,710
3,669
Other creditors
1,511
1,252
-------
-------
7,702
8,371
-------
-------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
8,767
10,608
-------
--------
10. Director's advances, credits and guarantees
The director operated a loan account with the company, the opening balance of which was £17,166 over drawn, movement of £17,356 and the closing balance of which was £190 in credit.
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed.