Registered number
08997614
Jennifer Effie's Hair Solutions Ltd
Filleted Accounts
30 April 2024
Jennifer Effie's Hair Solutions Ltd
Registered number: 08997614
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,743 17,924
Current assets
Stocks 42,000 37,400
Debtors 4 13,125 13,125
Cash at bank and in hand 43,799 47,629
98,924 98,154
Creditors: amounts falling due within one year 5 (45,919) (38,855)
Net current assets 53,005 59,299
Total assets less current liabilities 68,748 77,223
Creditors: amounts falling due after more than one year 6 (44,971) (59,254)
Net assets 23,777 17,969
Capital and reserves
Called up share capital 100 100
Profit and loss account 23,677 17,869
Shareholder's funds 23,777 17,969
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Florence Effie Nyarku
Director
Approved by the board on 27 March 2025
Jennifer Effie's Hair Solutions Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 11,250 3,281 8,209 22,740
At 30 April 2024 11,250 3,281 8,209 22,740
Depreciation
At 1 May 2023 - 2,764 2,052 4,816
Charge for the year - 129 2,052 2,181
At 30 April 2024 - 2,893 4,104 6,997
Net book value
At 30 April 2024 11,250 388 4,105 15,743
At 30 April 2023 11,250 517 6,157 17,924
4 Debtors 2024 2023
£ £
Rent repayment 13,125 13,125
5 Creditors: amounts falling due within one year 2024 2023
£ £
Creditcards 2,451 21,691
Director's current account - (19,352)
Taxation and social security costs 31,854 28,325
Pensions - 1,140
Other creditors 11,614 7,051
45,919 38,855
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 44,971 59,254
7 Other information
Jennifer Effie's Hair Solutions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
34 Gorringe Park Avenue
Mitcham
Surrey
CR4 2DG
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