Caseware UK (AP4) 2023.0.135 2023.0.135 The principal activity of the company is retail of hair products.12023-05-01false1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10133689 2023-05-01 2024-04-30 10133689 2022-05-01 2023-04-30 10133689 2024-04-30 10133689 2023-04-30 10133689 c:Director1 2023-05-01 2024-04-30 10133689 d:OfficeEquipment 2023-05-01 2024-04-30 10133689 d:OfficeEquipment 2024-04-30 10133689 d:OfficeEquipment 2023-04-30 10133689 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10133689 d:ComputerEquipment 2023-05-01 2024-04-30 10133689 d:ComputerEquipment 2024-04-30 10133689 d:ComputerEquipment 2023-04-30 10133689 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10133689 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10133689 d:PatentsTrademarksLicencesConcessionsSimilar 2023-05-01 2024-04-30 10133689 d:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 10133689 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 10133689 d:CurrentFinancialInstruments 2024-04-30 10133689 d:CurrentFinancialInstruments 2023-04-30 10133689 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10133689 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10133689 d:ShareCapital 2024-04-30 10133689 d:ShareCapital 2023-04-30 10133689 d:RetainedEarningsAccumulatedLosses 2024-04-30 10133689 d:RetainedEarningsAccumulatedLosses 2023-04-30 10133689 c:FRS102 2023-05-01 2024-04-30 10133689 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10133689 c:FullAccounts 2023-05-01 2024-04-30 10133689 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10133689 2 2023-05-01 2024-04-30 10133689 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-05-01 2024-04-30 10133689 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 10133689










Younghair AB Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 April 2024

 
Younghair AB Ltd
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Younghair AB Ltd for the year ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Younghair AB Ltd for the year ended 30 April 2024 which comprise  the 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 the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Younghair AB Ltd in accordance with the terms of our engagement letter dated 26 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of Younghair AB Ltd and state those matters that we have agreed to state to the director of Younghair AB Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Younghair AB Ltd and its director for our work or for this report. 

It is your duty to ensure that Younghair AB Ltd 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 Younghair AB Ltd. You consider that Younghair AB Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Younghair AB Ltd. 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.

  



Kreston Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL
30 January 2025
Page 1

 
Younghair AB Ltd
Registered number: 10133689

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
22,192
27,477

Tangible assets
 5 
-
93

  
22,192
27,570

Current assets
  

Stocks
 6 
195,298
135,847

Debtors: amounts falling due within one year
 7 
118,682
125,099

Bank and cash balances
  
34,606
23,758

  
348,586
284,704

Creditors: amounts falling due within one year
 8 
(73,280)
(82,536)

Net current assets
  
 
 
275,306
 
 
202,168

Total assets less current liabilities
  
297,498
229,738

  

Net assets
  
297,498
229,738


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
297,497
229,737

  
297,498
229,738


Page 2

 
Younghair AB Ltd
Registered number: 10133689

Balance sheet (continued)
As at 30 April 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr G A Young
Director
Date: 29 January 2025

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
Younghair AB Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales. The address of the registered office is: 20-22 Wenlock Road, London, England, N1 7GU.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding value added tax. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation.

 The estimated useful lives range as follows:

Patents and trademarks
-
10 years straight-line

Page 4

 
Younghair AB Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
3 years straight-line
Computer equipment
-
3 years straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

 
2.7

Debtors

Short-term debtors are measured at transaction price.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
Younghair AB Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

4.


Intangible assets




Patents and trademarks

£



Cost


At 1 May 2023
52,796



At 30 April 2024

52,796



Amortisation


At 1 May 2023
25,319


Charge for the year 
5,285



At 30 April 2024

30,604



Net book value



At 30 April 2024
22,192



At 30 April 2023
27,477




5.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
128
832
960



At 30 April 2024

128
832
960



Depreciation


At 1 May 2023
128
739
867


Charge for the year on owned assets
-
93
93



At 30 April 2024

128
832
960



Net book value



At 30 April 2024
-
-
-



At 30 April 2023
-
93
93

Page 6

 
Younghair AB Ltd
 

 
Notes to the financial statements
For the year ended 30 April 2024

6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
195,298
135,847

195,298
135,847



7.


Debtors

2024
2023
£
£


Trade debtors
6,467
62,089

Amounts owed by related party
31,386
31,386

Other debtors
80,482
31,291

Prepayments
347
333

118,682
125,099



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
84
84

Other loans
20,000
-

Trade creditors
10,000
33,092

Director's loan account
22,642
27,659

Other taxation and social security
18,354
19,651

Accruals
2,200
2,050

73,280
82,536



9.


Related party transactions

Da Dude AB
(A company under common control)
During the year Da Dude AB provided marketing management and design consultancy services to Younghair AB Limited amounting to £Nil (2023: £176,683), at normal market value. At the balance sheet date, the amount due from Da Dude AB was £31,386 (2023: £31,386).
Mr G A Young
(Director)
During the year the director provided the company with an interest free unsecured loan. At the balance sheet date the amount due to the director was £22,642 (2023: £27,659).


Page 7