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REGISTERED NUMBER: 05694462 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

Milton Keynes (T) Hairdressing Limited

Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Milton Keynes (T) Hairdressing Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: R Woodcock





REGISTERED OFFICE: Berkeley House
Amery Street
Alton
Hampshire
GU34 1HN





REGISTERED NUMBER: 05694462 (England and Wales)





ACCOUNTANTS: Styles & Associates Limited
Berkeley House
Amery Street
Alton
Hampshire
GU34 1HN

Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,938 4,341
Tangible assets 5 24,486 15,676
26,424 20,017

CURRENT ASSETS
Stocks 8,846 8,450
Debtors 6 30,617 34,891
Cash at bank and in hand 218,876 164,384
258,339 207,725
CREDITORS
Amounts falling due within one year 7 127,780 109,537
NET CURRENT ASSETS 130,559 98,188
TOTAL ASSETS LESS CURRENT
LIABILITIES

156,983

118,205

CREDITORS
Amounts falling due after more than one year 8 (8,093 ) (18,095 )

PROVISIONS FOR LIABILITIES (2,147 ) -
NET ASSETS 146,743 100,110

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 146,643 100,010
SHAREHOLDERS' FUNDS 146,743 100,110

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)

Balance Sheet - continued
31 August 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 director and authorised for issue on 5 March 2025 and were signed by:





R Woodcock - Director


Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)

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

1. STATUTORY INFORMATION

Milton Keynes (T) Hairdressing 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.

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

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.

Significant judgements and estimates
In preparing the financial statements in accordance with FRS 102, management is required to make judgements, estimates, and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income, and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise Costs are being amortised evenly over their estimated useful life of five years.

Leasehold Cost are being amortised evenly over their estimated useful life of five years.

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 - 20% on reducing balance and 10% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Franchise Leasehold
Goodwill Costs Cost Totals
£    £    £    £   
COST
At 1 September 2023
and 31 August 2024 5,500 8,600 3,419 17,519
AMORTISATION
At 1 September 2023 5,500 5,447 2,231 13,178
Amortisation for year - 1,720 683 2,403
At 31 August 2024 5,500 7,167 2,914 15,581
NET BOOK VALUE
At 31 August 2024 - 1,433 505 1,938
At 31 August 2023 - 3,153 1,188 4,341

Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2023 97,443 7,680 105,123
Additions 11,346 749 12,095
At 31 August 2024 108,789 8,429 117,218
DEPRECIATION
At 1 September 2023 81,893 7,554 89,447
Charge for year 3,056 229 3,285
At 31 August 2024 84,949 7,783 92,732
NET BOOK VALUE
At 31 August 2024 23,840 646 24,486
At 31 August 2023 15,550 126 15,676

6. DEBTORS
31.8.24 31.8.23
£    £   
Amounts falling due within one year:
Trade debtors 253 -
Amounts owed by group undertakings - 5,433
Other debtors 9,801 8,895
10,054 14,328

Amounts falling due after more than one year:
Other debtors 20,563 20,563

Aggregate amounts 30,617 34,891

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 17,819 12,880
Amounts owed to group undertakings - 9,568
Taxation and social security 66,492 47,953
Other creditors 33,469 29,136
127,780 109,537

Milton Keynes (T) Hairdressing Limited (Registered number: 05694462)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 8,093 18,095

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.24 31.8.23
£    £   
Within one year 40,500 50,000
Between one and five years - 40,500
40,500 90,500

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 18,093 28,095

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
100 Ordinary £1 100 100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £976 to the director (2023: £624).

13. ULTIMATE CONTROLLING PARTY

The controlling party is R Woodcock.