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Registration number: 06386387

Corner House Beauty & Hair Ltd

Filleted Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Corner House Beauty & Hair Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Corner House Beauty & Hair Ltd

(Registration number: 06386387)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,250

7,000

Tangible assets

5

35,465

41,752

 

40,715

48,752

Current assets

 

Stocks

21,070

21,230

Debtors

6

97,086

131,782

Cash at bank and in hand

 

6,883

8,810

 

125,039

161,822

Creditors: Amounts falling due within one year

7

(114,619)

(131,044)

Net current assets

 

10,420

30,778

Total assets less current liabilities

 

51,135

79,530

Creditors: Amounts falling due after more than one year

7

(40,728)

(74,365)

Provisions for liabilities

(4,245)

(5,000)

Net assets

 

6,162

165

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

6,062

65

Shareholders' funds

 

6,162

165

 

Corner House Beauty & Hair Ltd

(Registration number: 06386387)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 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 her 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 24 June 2025
 


Mrs C Ash
Director

   
 

Corner House Beauty & Hair Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
23 College Yard
Brigg
North Lincolnshire
DN20 8JL

Registration number: 06386387

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

 

Corner House Beauty & Hair Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

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

Equipment

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Corner House Beauty & Hair Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 12 (2023 - 13).

 

Corner House Beauty & Hair Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

35,000

35,000

At 30 September 2024

35,000

35,000

Amortisation

At 1 October 2023

28,000

28,000

Amortisation charge

1,750

1,750

At 30 September 2024

29,750

29,750

Carrying amount

At 30 September 2024

5,250

5,250

At 30 September 2023

7,000

7,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

155,885

155,885

At 30 September 2024

155,885

155,885

Depreciation

At 1 October 2023

114,133

114,133

Charge for the year

6,287

6,287

At 30 September 2024

120,420

120,420

Carrying amount

At 30 September 2024

35,465

35,465

At 30 September 2023

41,752

41,752

 

Corner House Beauty & Hair Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

2024
£

2023
£

Other debtors

97,086

131,782

Total current trade and other debtors

97,086

131,782

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

33,637

31,397

Trade payables

 

17,492

25,383

Amounts due to related parties

10

157

-

Social security and other taxes

 

38,719

50,573

Other payables

 

24,614

23,691

 

114,619

131,044

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

40,728

74,365

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,637

31,397

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

40,728

74,365

 

Corner House Beauty & Hair Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Related party transactions

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mrs C Ash

Directors loan account. Interest is not charged on this balance.

958

8,215

(9,330)

(157)

Mr W Ash

Directors loan account. Interest is not charged on this balance.

93,500

-

(27,000)

66,500

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Mrs C Ash

Directors loan account. Interest is not charged on this balance.

6,209

8,150

(13,401)

958

Mr W Ash

Directors loan account. Interest is not charged on this balance.

105,000

-

(11,500)

93,500