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REGISTERED NUMBER: 09729095 (England and Wales)















LUSH WIGS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024






LUSH WIGS LTD (REGISTERED NUMBER: 09729095)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LUSH WIGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2024







DIRECTORS: J R Harris
E L Harris





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 09729095 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

BALANCE SHEET
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 934 1,130

CURRENT ASSETS
Stocks 6,000 6,000
Debtors 5 68,074 68,002
Cash at bank and in hand 3,203 4,404
77,277 78,406
CREDITORS
Amounts falling due within one year 6 52,193 53,642
NET CURRENT ASSETS 25,084 24,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,018

25,894

CREDITORS
Amounts falling due after more than one
year

7

(20,899

)

(23,314

)

PROVISIONS FOR LIABILITIES (192 ) (215 )
NET ASSETS 4,927 2,365

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

BALANCE SHEET - continued
31ST AUGUST 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 4,925 2,363
SHAREHOLDERS' FUNDS 4,927 2,365

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 13th December 2024 and were signed on its behalf by:





J R Harris - Director


LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2024

1. STATUTORY INFORMATION

Lush Wigs Ltd 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

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st September 2023 12,430
Additions 708
At 31st August 2024 13,138
DEPRECIATION
At 1st September 2023 11,300
Charge for year 904
At 31st August 2024 12,204
NET BOOK VALUE
At 31st August 2024 934
At 31st August 2023 1,130

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 95 23
Other debtors 650 650
745 673

Amounts falling due after more than one year:
Cocopomme intercompany loan 67,329 67,329

Aggregate amounts 68,074 68,002

LUSH WIGS LTD (REGISTERED NUMBER: 09729095)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,179 4,800
Trade creditors 4,288 2,818
Corporation Tax 432 10,507
Social security and other taxes - 161
VAT 8,131 10,717
Directors' current accounts 27,341 21,367
Accruals and deferred income 3,822 3,272
52,193 53,642

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 4,800 4,800
Bank loans - 2-5 years 16,099 18,514
20,899 23,314

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
50 Ordinary A £0.01 1 1
50 Ordinary B £0.01 1 1
2 2

9. RELATED PARTY DISCLOSURES

The company had an outstanding directors loan creditor at the year end due to J R Harris of £27,341 (2023 - £21,368).

10. GOING CONCERN

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis preparing its financial statements.