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REGISTERED NUMBER: SC199553 (Scotland)















Unaudited Financial Statements for the Year Ended 31 August 2024

for

The Academy of Hairdressing Excellence
Limited

The Academy of Hairdressing Excellence
Limited (Registered number: SC199553)






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


The Academy of Hairdressing Excellence
Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: T McGovern





SECRETARY:





REGISTERED OFFICE: 12 Carron Place
East Kilbride
Lanarkshire
G75 0YL





REGISTERED NUMBER: SC199553 (Scotland)





ACCOUNTANTS: Glen Drummond Financial Accountants
12 Carron Place
East Kilbride
Lanarkshire
G75 0YL

The Academy of Hairdressing Excellence
Limited (Registered number: SC199553)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 800 800
Tangible assets 5 5,507 1,695
6,307 2,495

CURRENT ASSETS
Stocks 2,380 2,380
Debtors 6 75,597 67,434
Cash in hand 3,048 519
81,025 70,333
CREDITORS
Amounts falling due within one year 7 68,199 50,816
NET CURRENT ASSETS 12,826 19,517
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,133

22,012

CREDITORS
Amounts falling due after more than one
year

8

19,031

21,907
NET ASSETS 102 105

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2 5
SHAREHOLDERS' FUNDS 102 105

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.

The Academy of Hairdressing Excellence
Limited (Registered number: SC199553)

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 1 May 2025 and were signed by:





T McGovern - Director


The Academy of Hairdressing Excellence
Limited (Registered number: SC199553)

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

1. STATUTORY INFORMATION

The Academy of Hairdressing Excellence Limited is a private company, limited by shares , registered in Scotland. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 50% on reducing balance and 25% on reducing balance

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

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 10 (2023 - 11 ) .

The Academy of Hairdressing Excellence
Limited (Registered number: SC199553)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 800
NET BOOK VALUE
At 31 August 2024 800
At 31 August 2023 800

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 9,385
Additions 5,842
Disposals (391 )
At 31 August 2024 14,836
DEPRECIATION
At 1 September 2023 7,690
Charge for year 2,030
Eliminated on disposal (391 )
At 31 August 2024 9,329
NET BOOK VALUE
At 31 August 2024 5,507
At 31 August 2023 1,695

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 150 -
Other debtors 19,593 18,610
Directors' current accounts 55,854 48,824
75,597 67,434

The Academy of Hairdressing Excellence
Limited (Registered number: SC199553)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 11,041 6,214
Trade creditors 5,547 1,251
Tax 37,223 28,903
Social security and other taxes 736 2,020
VAT 10,486 5,817
Other creditors 477 560
Accrued expenses 2,689 6,051
68,199 50,816

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 2-5 years 19,031 21,907

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.8.24 31.8.23
£    £   
T McGovern
Balance outstanding at start of year 48,824 40,568
Amounts advanced 7,029 8,256
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,853 48,824