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REGISTERED NUMBER: 05198559 (England and Wales)















Kingston (T2) Hairdressing Limited

Unaudited Financial Statements

for the Year Ended 31 August 2024






Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Contents of the Financial Statements
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Kingston (T2) Hairdressing Limited

Company Information
for the year ended 31 August 2024







Director: C Campbell





Registered office: Berkeley House
Amery Street
Alton
Hampshire
GU34 1HN





Registered number: 05198559 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Balance Sheet
31 August 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 7,423 9,767
Tangible assets 5 16,493 21,570
23,916 31,337

Current assets
Stocks 13,215 9,215
Debtors 6 17,427 20,746
Cash at bank and in hand 48,492 22,272
79,134 52,233
Creditors
Amounts falling due within one year 7 67,918 47,359
Net current assets 11,216 4,874
Total assets less current liabilities 35,132 36,211

Creditors
Amounts falling due after more than one
year

8

(11,755

)

(21,755

)

Provisions for liabilities (3,251 ) (3,376 )
Net assets 20,126 11,080

Capital and reserves
Called up share capital 10 60,000 60,000
Retained earnings (39,874 ) (48,920 )
Shareholders' funds 20,126 11,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Balance Sheet - continued
31 August 2024


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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2025 and were signed by:





C Campbell - Director


Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Notes to the Financial Statements
for the year ended 31 August 2024


1. Statutory information

Kingston (T2) Hairdressing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:


Franchise costs Five years straight line

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings (leasehold)20% straight line per annum
Fixtures, fittings and equipment 20% straight line per annum and 33.33%
straight line per annum


Stocks
Stocks are stated at the lower of cost and estimated selling price and based on the director's estimate.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.


Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


2. Accounting policies - continued
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax
The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted. A deferred tax asset is only recognised when recoverability is considered more likely than not.

Leases
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Hence, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand three months or less.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 10 ) .

4. Intangible fixed assets
Goodwill Franchise Totals
£ £ £
Cost
At 1 September 2023
and 31 August 2024 9,334 16,027 25,361
Amortisation
At 1 September 2023 9,334 6,260 15,594
Amortisation for year - 2,344 2,344
At 31 August 2024 9,334 8,604 17,938
Net book value
At 31 August 2024 - 7,423 7,423
At 31 August 2023 - 9,767 9,767

Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


5. Tangible fixed assets
Fixtures
Long and
leasehold fittings Totals
£ £ £
Cost
At 1 September 2023
and 31 August 2024 19,182 121,468 140,650
Depreciation
At 1 September 2023 6,459 112,621 119,080
Charge for year 2,925 2,152 5,077
At 31 August 2024 9,384 114,773 124,157
Net book value
At 31 August 2024 9,798 6,695 16,493
At 31 August 2023 12,723 8,847 21,570

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 1,731 5,873
Other debtors 15,696 14,873
17,427 20,746

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors (22,081 ) (31,607 )
Taxation and social security 33,431 27,766
Other creditors 46,568 41,200
67,918 47,359

Included in creditors are bank loans secured by fixed an floating charges.

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 11,755 21,755

Included in creditors are bank loans secured by fixed an floating charges.

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 50,000 50,000
Between one and five years 66,667 116,667
116,667 166,667

Kingston (T2) Hairdressing Limited (Registered number: 05198559)

Notes to the Financial Statements - continued
for the year ended 31 August 2024


10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
60,000 Ordinary shares 1 60,000 60,000