REGISTERED NUMBER: |
LYNN WALKER'S CUTTING COMPANY LIMITED |
Unaudited Financial Statements For The Year Ended 30 June 2024 |
REGISTERED NUMBER: |
LYNN WALKER'S CUTTING COMPANY LIMITED |
Unaudited Financial Statements For The Year Ended 30 June 2024 |
LYNN WALKER'S CUTTING COMPANY LIMITED (REGISTERED NUMBER: 04583735) |
Contents of the Financial Statements |
For The Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 7 |
LYNN WALKER'S CUTTING COMPANY LIMITED |
Company Information |
For The Year Ended 30 June 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountant |
18 Norham Road |
Whitley Bay |
Tyne and Wear |
NE26 2SD |
LYNN WALKER'S CUTTING COMPANY LIMITED (REGISTERED NUMBER: 04583735) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
PROVISIONS FOR LIABILITIES | 8 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The director acknowledges her 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. |
LYNN WALKER'S CUTTING COMPANY LIMITED (REGISTERED NUMBER: 04583735) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
LYNN WALKER'S CUTTING COMPANY LIMITED (REGISTERED NUMBER: 04583735) |
Notes to the Financial Statements |
For The Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Lynn Walker's Cutting Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements |
There were no judgements made that were significant enough to warrant disclosure. |
Turnover |
Turnover represents income from the sale of hair-dressing services provided to clients visiting the salon and excludes VAT as the business is not registered. |
Goodwill |
Goodwill is not written off. In the opinion of the director the goodwill is not subject to any diminution in value. |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Computer equipment | - |
Stocks |
Stock consists of hair dressing products, and are valued at actual cost. Net realisable value exceeds the value of these products. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
LYNN WALKER'S CUTTING COMPANY LIMITED (REGISTERED NUMBER: 04583735) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Significant estimates |
There were no estimates made that were significant enough to warrant disclosure. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Other debtors relate solely to prepayments. |
LYNN WALKER'S CUTTING COMPANY LIMITED (REGISTERED NUMBER: 04583735) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
Included in other creditors are amounts owed to the Director, this year she was owed £8,464 (£10,162 - 2023). |
8. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 297 | 373 |
Deferred |
tax |
£ |
Balance at 1 July 2023 |
Provided during year | ( |
) |
Balance at 30 June 2024 |
9. | RELATED PARTY DISCLOSURES |
No transactions with related parties were undertaken that required disclosure under FRS 102 section 1A small entities. |
LYNN WALKER'S CUTTING COMPANY LIMITED |
Report of the Accountants to the Director of |
Lynn Walker's Cutting Company Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 June 2024 set out on pages three to eleven and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Chartered Certified Accountant |
18 Norham Road |
Whitley Bay |
Tyne and Wear |
NE26 2SD |