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Registered number: 03620370
Deansgate (T) Hairdressing Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Johnston Wood Roach Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 03620370
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 12,473 -
Tangible Assets 5 7,705 8,881
20,178 8,881
CURRENT ASSETS
Stocks 6 6,857 6,857
Debtors 7 59,339 22,924
Cash at bank and in hand 33,196 51,355
99,392 81,136
Creditors: Amounts Falling Due Within One Year 8 (206,393 ) (178,592 )
NET CURRENT ASSETS (LIABILITIES) (107,001 ) (97,456 )
TOTAL ASSETS LESS CURRENT LIABILITIES (86,823 ) (88,575 )
Creditors: Amounts Falling Due After More Than One Year 9 (8,333 ) (18,449 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (667 ) (546 )
NET LIABILITIES (95,823 ) (107,570 )
CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Profit and Loss Account (96,823 ) (108,570 )
SHAREHOLDERS' FUNDS (95,823) (107,570)
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Trevor Sharpe
Director
13 February 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Deansgate (T) Hairdressing Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03620370 . The registered office is Berkeley House, Amery Street, Alton, Hampshire, GU34 1HN.
The presentation currency of the financial statements is the Pound Sterling (£).
Accounts are rounded to the nearest pound.
The accounts represent the company as an individual entity.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the year end the company had net liabilities of £84,295 (2023: £107,570). The directors confirm that the
company will have the continued support of T&C Sharpe Management Limited for a period of not less than
twelve months from the date the accounts are approved, and on this basis the directors consider that it is
appropriate to use the going concern basis.
2.3. Significant judgements and estimations
The preparation of financial statements requires the use of estimates and assumptions that affect reported
amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the
reporting period. These estimates and assumptions are based on management's best knowledge of the amount,
events or actions. Actual results may differ from those amounts.
Management do not consider there to be any significant judgements or estimates used in the preparation of these
financial statements.
2.4. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Franchise and Legal Fees. They are amortised to profit and loss account over their estimated economic life of 5 years.
2.6. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% straight line
Plant & Machinery 20% reducing balance
Computer Equipment 20% straight line
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 17)
14 17
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 3,250
Additions 14,469
Disposals (3,250 )
As at 31 August 2024 14,469
Amortisation
As at 1 September 2023 3,250
Provided during the period 1,996
Disposals (3,250 )
As at 31 August 2024 1,996
Net Book Value
As at 31 August 2024 12,473
As at 1 September 2023 -
Page 4
Page 5
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 September 2023 213,238 69,154 10,744 293,136
Additions - 639 291 930
As at 31 August 2024 213,238 69,793 11,035 294,066
Depreciation
As at 1 September 2023 213,238 64,635 6,382 284,255
Provided during the period - 796 1,310 2,106
As at 31 August 2024 213,238 65,431 7,692 286,361
Net Book Value
As at 31 August 2024 - 4,362 3,343 7,705
As at 1 September 2023 - 4,519 4,362 8,881
6. Stocks
2024 2023
£ £
Stock 6,857 6,857
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 34,449 1,274
Other debtors 24,890 21,650
59,339 22,924
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,876 37,583
Bank loans and overdrafts 10,000 10,000
Other creditors 98,085 84,554
Taxation and social security 65,432 46,455
206,393 178,592
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 8,333 18,449
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
Page 6