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REGISTERED NUMBER: 11496084 (England and Wales)















Report of the Director and

Financial Statements for the Year Ended 31 August 2024

for

Prides Hairdressing Formby Ltd

Prides Hairdressing Formby Ltd (Registered number: 11496084)






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




Page

Company Information 1

Report of the Director 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


Prides Hairdressing Formby Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mrs J Travers





REGISTERED OFFICE: 35 Chapel Lane
Formby
Liverpool
L37 4DL





REGISTERED NUMBER: 11496084 (England and Wales)





ACCOUNTANTS: M P Greaves Limited
Chartered Certified Accountants
74 Marmot Road
Liverpool
Merseyside
L37 6GB

Prides Hairdressing Formby Ltd (Registered number: 11496084)

Report of the Director
for the Year Ended 31 August 2024

The director presents her report with the financial statements of the company for the year ended 31 August 2024.

DIRECTOR
Mrs J Travers held office during the whole of the period from 1 September 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mrs J Travers - Director


14 May 2025

Prides Hairdressing Formby Ltd (Registered number: 11496084)

Income Statement
for the Year Ended 31 August 2024

31.8.24 31.8.23
Notes £    £   

TURNOVER 180,869 158,889

Cost of sales 18,145 16,183
GROSS PROFIT 162,724 142,706

Administrative expenses 147,207 127,575
OPERATING PROFIT 4 15,517 15,131

Interest receivable and similar income 90 46
15,607 15,177

Interest payable and similar expenses 2,172 2,720
PROFIT BEFORE TAXATION 13,435 12,457

Tax on profit 3,930 4,458
PROFIT FOR THE FINANCIAL YEAR 9,505 7,999

Prides Hairdressing Formby Ltd (Registered number: 11496084)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 - 11,233
Tangible assets 6 4,853 868
4,853 12,101

CURRENT ASSETS
Stocks 8,250 8,250
Debtors 7 17,838 18,991
Cash at bank and in hand 11,557 11,462
37,645 38,703
CREDITORS
Amounts falling due within one year 8 23,979 21,776
NET CURRENT ASSETS 13,666 16,927
TOTAL ASSETS LESS CURRENT
LIABILITIES

18,519

29,028

CREDITORS
Amounts falling due after more than one
year

9

18,412

28,926
NET ASSETS 107 102

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 2
107 102

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 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.

Prides Hairdressing Formby Ltd (Registered number: 11496084)

Balance Sheet - continued
31 August 2024


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 14 May 2025 and were signed by:





Mrs J Travers - Director


Prides Hairdressing Formby Ltd (Registered number: 11496084)

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

1. STATUTORY INFORMATION

Prides Hairdressing Formby Ltd 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, 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.

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 - 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.

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.

Prides Hairdressing Formby Ltd (Registered number: 11496084)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.8.24 31.8.23
£    £   
Depreciation - owned assets 1,617 290
Goodwill amortisation 11,233 11,232

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 56,161
AMORTISATION
At 1 September 2023 44,928
Charge for year 11,233
At 31 August 2024 56,161
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 11,233

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023 1,855
Additions 5,602
At 31 August 2024 7,457
DEPRECIATION
At 1 September 2023 987
Charge for year 1,617
At 31 August 2024 2,604
NET BOOK VALUE
At 31 August 2024 4,853
At 31 August 2023 868

Prides Hairdressing Formby Ltd (Registered number: 11496084)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 17,838 18,991

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,001 9,452
Trade creditors (1 ) (1 )
Taxation and social security 12,904 11,250
Other creditors 1,075 1,075
23,979 21,776

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 18,412 28,926

10. 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
£    £   
Mrs J Travers
Balance outstanding at start of year 18,991 9,558
Amounts advanced 17,838 18,991
Amounts repaid (18,991 ) (9,558 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,838 18,991