A B Hair & Beauty Ltd 04861802 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is is the provision of hairdressing and beauty treatments. Digita Accounts Production Advanced 6.30.9574.0 true true 04861802 2023-10-01 2024-09-30 04861802 2024-09-30 04861802 bus:Director1 1 2024-09-30 04861802 bus:OrdinaryShareClass1 2024-09-30 04861802 2 2024-09-30 04861802 core:CurrentFinancialInstruments 2024-09-30 04861802 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 04861802 core:BetweenTwoFiveYears 2024-09-30 04861802 core:WithinOneYear 2024-09-30 04861802 core:ConstructionInProgressAssetsUnderConstruction 2024-09-30 04861802 core:FurnitureFittingsToolsEquipment 2024-09-30 04861802 core:LandBuildings 2024-09-30 04861802 core:OtherPropertyPlantEquipment 2024-09-30 04861802 bus:SmallEntities 2023-10-01 2024-09-30 04861802 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 04861802 bus:FullAccounts 2023-10-01 2024-09-30 04861802 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 04861802 bus:RegisteredOffice 2023-10-01 2024-09-30 04861802 bus:Director1 2023-10-01 2024-09-30 04861802 bus:Director1 1 2023-10-01 2024-09-30 04861802 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 04861802 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 04861802 core:Goodwill 2023-10-01 2024-09-30 04861802 core:Buildings 2023-10-01 2024-09-30 04861802 core:ComputerEquipment 2023-10-01 2024-09-30 04861802 core:ConstructionInProgressAssetsUnderConstruction 2023-10-01 2024-09-30 04861802 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 04861802 core:Land 2023-10-01 2024-09-30 04861802 core:LandBuildings 2023-10-01 2024-09-30 04861802 core:OfficeEquipment 2023-10-01 2024-09-30 04861802 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 04861802 countries:England 2023-10-01 2024-09-30 04861802 2023-09-30 04861802 bus:Director1 1 2023-09-30 04861802 core:ConstructionInProgressAssetsUnderConstruction 2023-09-30 04861802 core:FurnitureFittingsToolsEquipment 2023-09-30 04861802 core:LandBuildings 2023-09-30 04861802 core:OtherPropertyPlantEquipment 2023-09-30 04861802 2022-10-01 2023-09-30 04861802 2023-09-30 04861802 bus:OrdinaryShareClass1 2023-09-30 04861802 2 2023-09-30 04861802 core:CurrentFinancialInstruments 2023-09-30 04861802 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04861802 core:BetweenTwoFiveYears 2023-09-30 04861802 core:WithinOneYear 2023-09-30 04861802 core:ConstructionInProgressAssetsUnderConstruction 2023-09-30 04861802 core:FurnitureFittingsToolsEquipment 2023-09-30 04861802 core:LandBuildings 2023-09-30 04861802 core:OtherPropertyPlantEquipment 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04861802

A B Hair & Beauty Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

image-name
 

A B Hair & Beauty Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

A B Hair & Beauty Ltd

Company Information

Director

A G Barnes

Registered office

Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

Accountants

Viewpoint Accountants Ltd
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

 

A B Hair & Beauty Ltd

(Registration number: 04861802)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

290,179

290,226

Current assets

 

Stocks

6

7,065

9,870

Debtors

7

31,491

27,034

Cash at bank and in hand

 

600,029

578,364

 

638,585

615,268

Creditors: Amounts falling due within one year

8

(212,635)

(190,648)

Net current assets

 

425,950

424,620

Net assets

 

716,129

714,846

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

716,127

714,844

Shareholders' funds

 

716,129

714,846

For the financial year ending 30 September 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 his 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.

Approved and authorised by the director on 7 February 2025
 

.........................................
A G Barnes
Director

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

These financial statements were authorised for issue by the director on 7 February 2025.

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.

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.

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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

Leasehold interest - London

2% straight line

Leasehold improvement - London

10% straight line

Leasehold studio flat - London

Straight line over 45 years

Web design

20% straight line

Computer equipment

25% reducing balance

Furniture, fittings and equipment

15% reducing balance

Amortisation

Asset class

Amortisation method and rate

Goodwill

20% 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Financial instruments

Classification
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. Where shares are issued, any component that creates a financial liability of the company is
presented as a liability in the balance sheet. The corresponding dividends relating to the liability
component are charged as interest expense in the profit and loss account.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 6).

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

9,237

8,032

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Leasehold Improvements London
 £

Other tangible assets
£

Cost or valuation

At 1 October 2023

26,357

27,598

354,105

10,873

Additions

-

11,124

-

-

Disposals

-

(12,674)

-

(10,873)

At 30 September 2024

26,357

26,048

354,105

-

Depreciation

At 1 October 2023

4,090

24,917

89,385

10,315

Charge for the year

586

1,864

6,787

-

Eliminated on disposal

-

(11,298)

-

(10,315)

At 30 September 2024

4,676

15,483

96,172

-

Carrying amount

At 30 September 2024

21,681

10,565

257,933

-

At 30 September 2023

22,267

2,681

264,720

558

Total
£

Cost or valuation

At 1 October 2023

418,933

Additions

11,124

Disposals

(23,547)

At 30 September 2024

406,510

Depreciation

At 1 October 2023

128,707

Charge for the year

9,237

Eliminated on disposal

(21,613)

At 30 September 2024

116,331

Carrying amount

At 30 September 2024

290,179

At 30 September 2023

290,226

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Other inventories

7,065

9,870

7

Debtors

Note

2024
£

2023
£

Trade debtors

 

8,086

22,528

Other debtors

 

22,994

2,508

Prepayments

 

411

404

Income tax asset

-

1,594

 

31,491

27,034

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

28,714

32,019

Taxation and social security

9,866

11,281

Accruals and deferred income

14,233

2,338

Other creditors

159,822

145,010

212,635

190,648

 

A B Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

10

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

19,500

-

Later than one year and not later than five years

29,250

-

48,750

-

The amount of non-cancellable operating lease payments recognised as an expense during the year was £9,750 (2023 - £Nil).

11

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Director's loan

(95,040)

19,435

(55,505)

(131,110)