1 March 2023 false Taxfiler 2024.7.1 09987528business:PrivateLimitedCompanyLtd2023-03-012024-02-29 099875282023-02-28 099875282023-03-012024-02-29 09987528business:AuditExemptWithAccountantsReport2023-03-012024-02-29 09987528business:FilletedAccounts2023-03-012024-02-29 099875282024-02-29 09987528business:Director12023-03-012024-02-29 09987528business:RegisteredOffice2023-03-012024-02-29 099875282023-02-28 09987528core:WithinOneYear2024-02-29 09987528core:WithinOneYear2023-02-28 09987528core:AfterOneYear2024-02-29 09987528core:AfterOneYear2023-02-28 09987528core:ShareCapitalcore:PreviouslyStatedAmount2024-02-29 09987528core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 09987528core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-02-29 09987528core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 09987528core:PreviouslyStatedAmount2024-02-29 09987528core:PreviouslyStatedAmount2023-02-28 09987528business:SmallEntities2023-03-012024-02-29 09987528countries:EnglandWales2023-03-012024-02-29 09987528core:FurnitureFittings2023-03-012024-02-29 09987528core:Goodwill2023-02-28 09987528core:Goodwill2024-02-29 09987528core:FurnitureFittings2023-02-28 09987528core:FurnitureFittings2024-02-29 099875282022-03-012023-02-28 iso4217:GBP xbrli:pure
Company Registration No. 09987528 (England and Wales)
W2 Barbershop Ltd. Unaudited accounts for the year ended 29 February 2024
W2 Barbershop Ltd. Unaudited accounts Contents
Page
- 2 -
W2 Barbershop Ltd. Company Information for the year ended 29 February 2024
Director
Richard Iain Wyatt
Company Number
09987528 (England and Wales)
Registered Office
21 Hyde Park Road Leeds LS6 1PY England
- 3 -
W2 Barbershop Ltd. Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,482 
1,852 
Current assets
Inventories
- 
525 
Debtors
- 
203 
Cash at bank and in hand
1,203 
11,364 
1,203 
12,092 
Creditors: amounts falling due within one year
(350)
(12,569)
Net current assets/(liabilities)
853 
(477)
Total assets less current liabilities
2,335 
1,375 
Creditors: amounts falling due after more than one year
(11,950)
(15,865)
Net liabilities
(9,615)
(14,490)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(9,616)
(14,491)
Shareholders' funds
(9,615)
(14,490)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2024 and were signed on its behalf by
Richard Iain Wyatt Director Company Registration No. 09987528
- 4 -
W2 Barbershop Ltd. Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
W2 Barbershop Ltd. is a private company, limited by shares, registered in England and Wales, registration number 09987528. The registered office is 21 Hyde Park Road, Leeds, LS6 1PY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% diminishing balance method.
Government grants Covid 19
Government grants in relation to job retention scheme are credited to profit and loss account , whereas those in relation to expenditure are charged to profit and loss. Also, local council grants are received in terms of Covid-19 pandemic are credit to profit and loss account under other operating expenses, whereas all fixed cost against these are debited in the profit and loss account too.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Trading activities are
hair stylist
- 5 -
W2 Barbershop Ltd. Notes to the Accounts for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 March 2023
20,000 
At 29 February 2024
20,000 
Amortisation
At 1 March 2023
20,000 
At 29 February 2024
20,000 
Net book value
At 29 February 2024
- 
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 March 2023
7,963 
At 29 February 2024
7,963 
Depreciation
At 1 March 2023
6,111 
Charge for the year
370 
At 29 February 2024
6,481 
Net book value
At 29 February 2024
1,482 
At 28 February 2023
1,852 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
- 
203 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,354 
784 
Loans from directors
(2,054)
6,285 
Accruals
1,050 
- 
Deferred income
- 
5,500 
350 
12,569 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
11,950 
15,865 
- 6 -
W2 Barbershop Ltd. Notes to the Accounts for the year ended 29 February 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 2).
- 7 -