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Company No: 07526198 (England and Wales)

HAIR JUNGLE LTD

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

HAIR JUNGLE LTD

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

HAIR JUNGLE LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
HAIR JUNGLE LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 203,859 216,464
203,859 216,464
Current assets
Stocks 13,593 10,594
Debtors 4 44,584 967
Cash at bank and in hand 48,252 63,973
106,429 75,534
Creditors: amounts falling due within one year 5 ( 33,644) ( 18,132)
Net current assets 72,785 57,402
Total assets less current liabilities 276,644 273,866
Creditors: amounts falling due after more than one year 6 ( 27,765) ( 30,923)
Provision for liabilities 7 ( 2,572) ( 3,682)
Net assets 246,307 239,261
Capital and reserves
Called-up share capital 8 129 129
Revaluation reserve 10 3,838 3,838
Profit and loss account 242,340 235,294
Total shareholder's funds 246,307 239,261

For the financial 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.

Director's responsibilities:

The financial statements of Hair Jungle Ltd (registered number: 07526198) were approved and authorised for issue by the Director on 31 July 2025. They were signed on its behalf by:

Emily Piotrowski
Director
HAIR JUNGLE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
HAIR JUNGLE LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hair Jungle Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 192 Plymstock Road Oreston, Plymouth, PL9 7LN, United Kingdom. The principal place of business is 44 Ebrington St, Plymouth, PL4 9AD.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Vehicles 4 years straight line
Fixtures and fittings 10 % reducing balance
Computer equipment 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 4 4

3. Tangible assets

Land and buildings Vehicles Fixtures and fittings Computer equipment Total
£ £ £ £ £
Cost/Valuation
At 01 January 2024 159,500 45,835 28,578 8,459 242,372
Additions 0 0 881 0 881
At 31 December 2024 159,500 45,835 29,459 8,459 243,253
Accumulated depreciation
At 01 January 2024 0 3,820 17,101 4,987 25,908
Charge for the financial year 0 11,459 1,181 846 13,486
At 31 December 2024 0 15,279 18,282 5,833 39,394
Net book value
At 31 December 2024 159,500 30,556 11,177 2,626 203,859
At 31 December 2023 159,500 42,015 11,477 3,472 216,464

Revaluation of tangible assets

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024 2023
£ £
Historical cost 155,662 155,662
Accumulated depreciation (37,359) (34,246)
Carrying value 118,303 121,416

4. Debtors

2024 2023
£ £
Amounts owed by director 36,764 0
Other debtors 7,820 967
44,584 967

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,563 2,096
Amounts owed to director 0 27
Accruals 4,160 3,780
Taxation and social security 20,524 8,172
Obligations under finance leases and hire purchase contracts (secured) 3,159 3,659
Other creditors 1,238 398
33,644 18,132

The security provided is on the asset in which the obligation relates to.

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts (secured) 27,765 30,923

The security provided is on the asset in which the obligation relates to.

7. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 3,682) ( 2,700)
Credited/(charged) to the Statement of Income and Retained Earnings 1,110 ( 982)
At the end of financial year ( 2,572) ( 3,682)

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
10 Ordinary A shares of £ 1.00 each 10 10
10 Ordinary B shares of £ 1.00 each 10 10
10 Ordinary C shares of £ 1.00 each 10 10
99 Ordinary shares of £ 1.00 each 99 99
129 129

9. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed by/(to) directors 36,764 (27)

Advances were made to the directors during the year totalling £42,055, repayments were made totalling £5,450. Interest has been charged at a rate of 2.25% totalling £186.

10. Revaluation reserve

2024 2023
£ £
Revaluation of freehold property 3,838 3,838