M Cooper (Vanity Hair) Ltd 09165070 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of a hairdressing salon. Digita Accounts Production Advanced 6.30.9574.0 true true 09165070 2023-09-01 2024-08-31 09165070 2024-08-31 09165070 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09165070 core:Goodwill 2024-08-31 09165070 core:FurnitureFittingsToolsEquipment 2024-08-31 09165070 bus:SmallEntities 2023-09-01 2024-08-31 09165070 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09165070 bus:FilletedAccounts 2023-09-01 2024-08-31 09165070 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09165070 bus:RegisteredOffice 2023-09-01 2024-08-31 09165070 bus:Director1 2023-09-01 2024-08-31 09165070 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09165070 core:Goodwill 2023-09-01 2024-08-31 09165070 core:FurnitureFittings 2023-09-01 2024-08-31 09165070 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09165070 countries:England 2023-09-01 2024-08-31 09165070 2023-08-31 09165070 core:Goodwill 2023-08-31 09165070 core:FurnitureFittingsToolsEquipment 2023-08-31 09165070 2022-09-01 2023-08-31 09165070 2023-08-31 09165070 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09165070 core:Goodwill 2023-08-31 09165070 core:FurnitureFittingsToolsEquipment 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 09165070

M Cooper (Vanity Hair) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

M Cooper (Vanity Hair) Ltd

Contents

Company Information

1

Profit and Loss Account and Statement of Retained Earnings

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

M Cooper (Vanity Hair) Ltd

Company Information

Director

Mrs M Cooper

Registered office

35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

Accountants

Brodericks GBC
Chartered Certified Accountants
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

 

M Cooper (Vanity Hair) Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 August 2024

Note

2024
£

2023
£

Turnover

 

80,510

67,924

Cost of sales

 

(18,773)

(16,100)

Gross profit

 

61,737

51,824

Administrative expenses

 

(36,828)

(33,808)

Other operating income

 

500

2,000

Operating profit

 

25,409

20,016

Other interest receivable and similar income

 

26

20

 

26

20

Profit before tax

25,435

20,036

Taxation

 

(5,040)

(4,014)

Profit for the financial year

 

20,395

16,022

Retained earnings brought forward

 

7,292

9,375

Dividends paid

 

(21,000)

(18,105)

Retained earnings carried forward

 

6,687

7,292

 

M Cooper (Vanity Hair) Ltd

(Registration number: 09165070)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

-

1,000

Tangible assets

5

526

619

 

526

1,619

Current assets

 

Stocks

6

732

904

Cash at bank and in hand

 

12,474

10,512

 

13,206

11,416

Creditors: Amounts falling due within one year

7

(6,045)

(4,743)

Net current assets

 

7,161

6,673

Net assets

 

7,687

8,292

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

6,687

7,292

Shareholders' funds

 

7,687

8,292

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 December 2024
 

 

M Cooper (Vanity Hair) Ltd

(Registration number: 09165070)
Balance Sheet as at 31 August 2024

.........................................
Mrs M Cooper
Director

 

M Cooper (Vanity Hair) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
35 Thorne Road
Doncaster
South Yorkshire
DN1 2HD

The principal place of business is:
7 Church Street
Thorne
Doncaster
DN8 5BE

These financial statements were authorised for issue by the director on 24 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

M Cooper (Vanity Hair) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

15% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

M Cooper (Vanity Hair) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

M Cooper (Vanity Hair) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

10,000

10,000

At 31 August 2024

10,000

10,000

Amortisation

At 1 September 2023

9,000

9,000

Amortisation charge

1,000

1,000

At 31 August 2024

10,000

10,000

Carrying amount

At 31 August 2024

-

-

At 31 August 2023

1,000

1,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2023

1,685

1,685

At 31 August 2024

1,685

1,685

Depreciation

At 1 September 2023

1,066

1,066

Charge for the year

93

93

At 31 August 2024

1,159

1,159

Carrying amount

At 31 August 2024

526

526

At 31 August 2023

619

619

 

M Cooper (Vanity Hair) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

6

Stocks

2024
£

2023
£

Other inventories

732

904

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

5,040

4,014

Accruals and deferred income

750

714

Other creditors

255

15

6,045

4,743

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000