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Registration number: SC440653

Jeff Buchan Hair & Beauty Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Jeff Buchan Hair & Beauty Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

Accountants' Report

9

 

Jeff Buchan Hair & Beauty Ltd

Company Information

Director

Mr Jeff Valentine Buchan

Registered office

9 Friars Street
Stirling
FK8 1HA

Accountants

EQ Accountants Ltd Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

 

Jeff Buchan Hair & Beauty Ltd

(Registration number: SC440653)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

72,071

74,327

Current assets

 

Stocks

5

250

250

Cash at bank and in hand

 

1,810

2,083

 

2,060

2,333

Creditors: Amounts falling due within one year

6

(48,336)

(50,086)

Net current liabilities

 

(46,276)

(47,753)

Total assets less current liabilities

 

25,795

26,574

Creditors: Amounts falling due after more than one year

6

(13,493)

(15,796)

Provisions for liabilities

(1,473)

(1,562)

Net assets

 

10,829

9,216

Capital and reserves

 

Called up share capital

100

100

Retained earnings

10,729

9,116

Shareholders' funds

 

10,829

9,216

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 May 2025
 

.........................................
Mr Jeff Valentine Buchan
Director

 

Jeff Buchan Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Jeff Buchan Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Straight line at 1%

Plant and machinery

Reducing balance at 20%

Fixtures and fittings

Reducing balance at 25%

Motor vehicles

Reducing balance at 25%

Office equipment

Straight line at 33%

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

 

 

Jeff Buchan Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

3

Employees and Directors

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

 

Jeff Buchan Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Cost or valuation

At 1 April 2024

72,773

6,697

2,279

3,169

13,900

Additions

-

770

-

-

-

At 31 March 2025

72,773

7,467

2,279

3,169

13,900

Depreciation

At 1 April 2024

6,669

6,253

2,085

2,936

6,548

Charge for the year

728

304

39

117

1,838

At 31 March 2025

7,397

6,557

2,124

3,053

8,386

Carrying amount

At 31 March 2025

65,376

910

155

116

5,514

At 31 March 2024

66,104

444

194

233

7,352

Total
£

Cost or valuation

At 1 April 2024

98,818

Additions

770

At 31 March 2025

99,588

Depreciation

At 1 April 2024

24,491

Charge for the year

3,026

At 31 March 2025

27,517

Carrying amount

At 31 March 2025

72,071

At 31 March 2024

74,327

Included within the net book value of land and buildings above is £65,376 (2024 - £66,104) in respect of freehold land and buildings.
 

 

Jeff Buchan Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Stocks

2025
£

2024
£

Other inventories

250

250

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

7

4,459

4,459

Taxation and social security

 

2,542

2,199

Other creditors

 

41,335

43,428

 

48,336

50,086

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

7

13,493

15,796

7

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

13,493

15,796

Current loans and borrowings

2025
£

2024
£

Bank borrowings

4,459

4,459

 

Jeff Buchan Hair & Beauty Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Related party transactions

Creditors include the following amounts which are owed to individuals who were directors of the company during the year:

2025
 £

2024
 £

Mr Jeff Valentine Buchan

39,129

41,463

 

39,129

41,463

The maximum balance outstanding during the year amounted to £41,463.

The directors current account is repayable on demand.

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Jeff Buchan Hair & Beauty Ltd
for the Year Ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Jeff Buchan Hair & Beauty Ltd for the year ended 31 March 2025 as set out on pages 2 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Jeff Buchan Hair & Beauty Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Jeff Buchan Hair & Beauty Ltd and state those matters that we have agreed to state to the Board of Directors of Jeff Buchan Hair & Beauty Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jeff Buchan Hair & Beauty Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Jeff Buchan Hair & Beauty Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Jeff Buchan Hair & Beauty Ltd. You consider that Jeff Buchan Hair & Beauty Ltd 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 accounts of Jeff Buchan Hair & Beauty Ltd. 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 accounts.

......................................

EQ Accountants Ltd
Unit 4B
Gateway Business Park
Beancross Road
Grangemouth
FK3 8WX

26 May 2025