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Registered number: 07182077
Renegade Hair Studio Limited
Financial Statements
For the Period 1 May 2023 to 31 July 2024
Trevelyan & Company Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07182077
31 July 2024 30 April 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 10,588 6,767
10,588 6,767
CURRENT ASSETS
Stocks 5 4,000 4,000
Debtors 6 30,971 33,048
Cash at bank and in hand 10,534 15,380
45,505 52,428
Creditors: Amounts Falling Due Within One Year 7 (32,470 ) (28,366 )
NET CURRENT ASSETS (LIABILITIES) 13,035 24,062
TOTAL ASSETS LESS CURRENT LIABILITIES 23,623 30,829
Creditors: Amounts Falling Due After More Than One Year 8 (31,455 ) (30,119 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (2,012 ) (1,286 )
NET LIABILITIES (9,844 ) (576 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (9,944 ) (676 )
SHAREHOLDERS' FUNDS (9,844) (576)
Page 1
Page 2
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alistair Dixon
Director
29/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Renegade Hair Studio Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07182077 . The registered office is 56 Lidgett Lane Gledhow, Leeds, West Yorkshire, LS8 1PL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25% on NBV
Computer Equipment 25% on Cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 5 (2023: 5)
5 5
Page 3
Page 4
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 May 2023 66,097 6,383 72,480
Additions 6,441 300 6,741
As at 31 July 2024 72,538 6,683 79,221
Depreciation
As at 1 May 2023 60,651 5,062 65,713
Provided during the period 2,405 515 2,920
As at 31 July 2024 63,056 5,577 68,633
Net Book Value
As at 31 July 2024 9,482 1,106 10,588
As at 1 May 2023 5,446 1,321 6,767
5. Stocks
31 July 2024 30 April 2023
£ £
Stock 4,000 4,000
6. Debtors
31 July 2024 30 April 2023
£ £
Due within one year
Prepayments and accrued income 6,851 6,565
Other debtors 5,950 5,216
Other debtors - card merchant - 1,898
Director's loan account 18,170 19,369
30,971 33,048
7. Creditors: Amounts Falling Due Within One Year
31 July 2024 30 April 2023
£ £
Trade creditors 5,913 2,509
Bank loans and overdrafts 5,250 4,440
Corporation tax 1,815 2,748
Other taxes and social security 10,118 8,114
VAT 3,915 5,889
Net wages 3,802 3,076
Other creditors 97 90
Accruals and deferred income 1,560 1,500
32,470 28,366
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8. Creditors: Amounts Falling Due After More Than One Year
31 July 2024 30 April 2023
£ £
Bank loans 23,683 29,747
Other Loans 7,772 372
31,455 30,119
9. Share Capital
31 July 2024 30 April 2023
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 31 July 2024
£ £ £ £ £
Mr Alistair Dixon 19,368 - 1,198 - 18,170
The above loan is unsecured and repayable on demand. Interest is charged at 2.5%.
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