Registered number
07298867
Vizion Hair Design Ltd
Un-audited Filleted Accounts
30 June 2024
Vizion Hair Design Ltd
Registered number: 07298867
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,475 4,514
Current assets
Stocks 1,357 1,345
Debtors 4 9,328 9,350
Cash at bank and in hand 9,451 10,252
20,136 20,947
Creditors: amounts falling due within one year 5 (14,776) (14,722)
Net current assets 5,360 6,225
Total assets less current liabilities 9,835 10,739
Creditors: amounts falling due after more than one year 6 (4,300) (8,600)
Provisions for liabilities (850) (858)
Net assets 4,685 1,281
Capital and reserves
Called up share capital 1 1
Profit and loss account 4,684 1,280
Shareholders' funds 4,685 1,281
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs K Moon
Director
Approved by the board on 7 February 2025
Vizion Hair Design Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance method
Fixtures and fittings 20% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Going Concern
The director has given consideration to the continuing operations of the company and this has given rise to no material uncertainties regarding going concern. As a result, the accounts have been prepared under the going concern basis of accounting.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 13,214
Additions 1,080
At 30 June 2024 14,294
Depreciation
At 1 July 2023 8,700
Charge for the year 1,119
At 30 June 2024 9,819
Net book value
At 30 June 2024 4,475
At 30 June 2023 4,514
4 Debtors 2024 2023
£ £
Other debtors 9,328 9,350
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,300 4,300
Trade creditors 699 1,461
Taxation and social security costs 6,084 5,397
Other creditors 3,693 3,564
14,776 14,722
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,300 8,600
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mrs K Moon
Director's loan account 9,209 10,541 (10,422) 9,328
9,209 10,541 (10,422) 9,328
The balance of £9,328 (2023: £9,209) is included in other debtors. The maximum overdrawn loan balance during the year was £16,387 with interest being charged at the official rate. The director's loan was repaid in full in February 2025.
8 Controlling party
The company is under the control of Mrs K Moon.
9 Other information
Vizion Hair Design Ltd is a private company limited by shares and incorporated in England. Its registered office is:
11 White Post
Stratton-On-The-Fosse
Radstock
BA3 4QA
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