Company Registration No. 04171001 (England and Wales)
Hair Flair Limited
Unaudited accounts
for the year ended 31 December 2024
Hair Flair Limited
Unaudited accounts
Contents
Hair Flair Limited
Company Information
for the year ended 31 December 2024
Director
Mrs Alexandra Victoria Henrietta Malet
Company Number
04171001 (England and Wales)
Registered Office
c/o AccountsCo
47 Islington Park Street
London
N1 1QB
Accountants
AccountsCo
47 Islington Park Street
London
N1 1QB
England
Hair Flair Limited
Statement of financial position
as at 31 December 2024
Intangible assets
-
29,188
Cash at bank and in hand
1,332
8,136
Creditors: amounts falling due within one year
(378)
(4,323)
Net current assets
4,806
115,048
Called up share capital
251
251
Profit and loss account
4,555
143,985
Shareholders' funds
4,806
144,236
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 July 2025 and were signed on its behalf by
Mrs Alexandra Victoria Henrietta Malet
Director
Company Registration No. 04171001
Hair Flair Limited
Notes to the Accounts
for the year ended 31 December 2024
Hair Flair Limited is a private company, limited by shares, registered in England and Wales, registration number 04171001. The registered office is c/o AccountsCo, 47 Islington Park Street, London, N1 1QB. The company is in the process of being wound up.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared on a winding-up (non-going concern) basis. Accordingly, the assets have been measured at their estimated recoverable amounts, and all liabilities, including provisions, have been classified as current, as they are expected to be settled within the short term.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives (3 years).
Tangible assets previously held by the company was fully depreciated in prior years. As the company is in the process of liquidation, and due to the age and condition of the assets, all remaining computer assets have been scrapped during the year. No residual value has been recognised, and the carrying value of these assets is now nil.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost or value of the asset can be measured reliably.
Intangible assets primarily consist of patents and trademarks. In the current accounting period, an impairment review was conducted, and an impairment loss was recognised due to the company’s planned closure within the next 12 months. As a result, the carrying amounts of the affected intangible assets were adjusted to reflect their recoverable amounts, considering the company will cease operations.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Hair Flair Limited
Notes to the Accounts
for the year ended 31 December 2024
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
As a result of the planned cessation of the business within the next 12 months, stock has been fully impaired. An impairment charge of £105,973 has been recognised to reduce the carrying value of stock to its estimated recoverable amount of nil.
Deferred tax has not been provided for because of uncertainty regarding quantum and timing of future profitability.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Intangible fixed assets
Other
At 31 December 2024
248,303
Charge for the year
13,006
Other increase/(decrease)
16,182
At 31 December 2024
248,303
At 31 December 2023
29,188
Hair Flair Limited
Notes to the Accounts
for the year ended 31 December 2024
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Tangible fixed assets
Computer equipment
Amounts falling due within one year
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
56
1,486
Allotted, called up and fully paid:
151 Ordinary of £1 each
151
151
100 A Ordinary of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).