Company registration number 12197917 (England and Wales)
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
45,000
45,000
Tangible assets
4
12,170
14,410
57,170
59,410
Current assets
Cash at bank and in hand
62,830
40,762
Creditors: amounts falling due within one year
5
(51,976)
(42,414)
Net current assets/(liabilities)
10,854
(1,652)
Total assets less current liabilities
68,024
57,758
Creditors: amounts falling due after more than one year
6
(27,349)
(32,723)
Provisions for liabilities
(3,042)
-
0
Net assets
37,633
25,035
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
37,433
24,835
Total equity
37,633
25,035
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 June 2025 and are signed on its behalf by:
Mr K Townsend
Director
Company registration number 12197917 (England and Wales)
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Inspirations Hair & Beauty Boutique Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 54-56 Felpham Road, Felpham, West Sussex, England, PO22 7NZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The Directors have considered the possible effects on the company of the impacts of the worldwide pandemic caused by the coronavirus (Covid-19). On review of the period following this year-end, the Directors have a reasonable expectation that it has adequate resources to continue in operational existence for the foreseeable future, and for this reason will continue to adopt the going concern basis in the preparation of its Financial Statements.

1.3
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Intangible fixed assets - 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.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% on reducing balance
Fixtures and fittings
15% on reducing balance
Computers
25% on reducing balance
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases
As lessee

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

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
7
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
45,000
Amortisation and impairment
At 1 October 2023 and 30 September 2024
-
0
Carrying amount
At 30 September 2024
45,000
At 30 September 2023
45,000
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 October 2023 and 30 September 2024
994
25,991
947
27,932
Depreciation and impairment
At 1 October 2023
574
12,368
580
13,522
Depreciation charged in the year
105
2,043
92
2,240
At 30 September 2024
679
14,411
672
15,762
Carrying amount
At 30 September 2024
315
11,580
275
12,170
At 30 September 2023
420
13,623
367
14,410
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
5,451
5,314
Trade creditors
2,442
483
Corporation tax
4,663
3,317
Other taxation and social security
7,068
6,655
Other creditors
32,352
26,645
51,976
42,414
INSPIRATIONS HAIR & BEAUTY BOUTIQUE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
27,349
32,723
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