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REGISTERED NUMBER: 06500937 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 March 2024

for

Glitz Hair Design Limited

Glitz Hair Design Limited (Registered number: 06500937)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


Glitz Hair Design Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: P Bentley
H Bentley





REGISTERED OFFICE: Charnwood House
Harcourt Way
Meridian Business Park
Leicestershire
LE19 1WP





REGISTERED NUMBER: 06500937 (England and Wales)





ACCOUNTANTS: The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Glitz Hair Design Limited


The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Glitz Hair Design Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Glitz Hair Design Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Glitz Hair Design Limited and state those matters that we have agreed to state to the Board of Directors of Glitz Hair Design Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Glitz Hair Design Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Glitz Hair Design Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Glitz Hair Design Limited. You consider that Glitz Hair Design Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Glitz Hair Design Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Rowleys Partnership Ltd
Chartered Accountants
Charnwood House
Harcourt Way
Meridian Business Park
Leicester
Leicestershire
LE19 1WP


27 March 2025

Glitz Hair Design Limited (Registered number: 06500937)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,329 12,769

CURRENT ASSETS
Stocks 8,000 5,000
Debtors 5 - 16,253
Cash at bank and in hand 51 1,614
8,051 22,867
CREDITORS
Amounts falling due within one year 6 76,322 52,514
NET CURRENT LIABILITIES (68,271 ) (29,647 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(57,942

)

(16,878

)

CREDITORS
Amounts falling due after more than
one year

7

(4,200

)

(12,221

)

PROVISIONS FOR LIABILITIES (1,963 ) (3,224 )
NET LIABILITIES (64,105 ) (32,323 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (64,205 ) (32,423 )
SHAREHOLDERS' FUNDS (64,105 ) (32,323 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Glitz Hair Design Limited (Registered number: 06500937)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





H Bentley - Director


Glitz Hair Design Limited (Registered number: 06500937)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Glitz Hair Design 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

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.
Fixtures and fittings - 15% reducing balance
Computer equipment - 25% reducing balance

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.

Glitz Hair Design Limited (Registered number: 06500937)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 49,966 23,378 73,344
DEPRECIATION
At 1 April 2023 42,433 18,142 60,575
Charge for year 1,129 1,311 2,440
At 31 March 2024 43,562 19,453 63,015
NET BOOK VALUE
At 31 March 2024 6,404 3,925 10,329
At 31 March 2023 7,533 5,236 12,769

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Directors' current accounts - 16,253

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 8,943 9,590
Trade creditors 10,139 3,294
Corporation tax 13,281 15,591
Social security and other taxes 423 231
VAT 21,953 19,216
Other creditors 236 1,332
Net wages 3,628 -
Directors' current accounts 14,096 -
Accruals and deferred income 3,623 3,260
76,322 52,514

Glitz Hair Design Limited (Registered number: 06500937)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 4,200 7,200
Bank loans - 2-5 years - 600
Hire purchase contracts - 4,421
4,200 12,221

8. SECURED DEBTS

The bank overdraft is secured by personal guarantee from the directors.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
P Bentley
Balance outstanding at start of year 16,253 12,295
Amounts advanced 70,016 77,555
Amounts repaid (86,269 ) (73,597 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 16,253

11. GOING CONCERN

The company is considered to be a going concern as it will continue to be supported by its directors.

12. ILLEGAL DIVIDENDS

During the year, under Section 830 of the Companies Act 2006 excess dividends were paid inadvertently. The directors do not intend to take any further dividends until reserves are adequate for them to do so.