Acorah Software Products - Accounts Production 16.4.675 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 05011668 Mrs Karly Flitton Ms Abby Whittaker Mrs Theresa Whittaker Mr John Whittaker Mrs Theresa Whittaker iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05011668 2023-08-31 05011668 2024-08-31 05011668 2023-09-01 2024-08-31 05011668 frs-core:CurrentFinancialInstruments 2024-08-31 05011668 frs-core:Non-currentFinancialInstruments 2024-08-31 05011668 frs-core:FurnitureFittings 2024-08-31 05011668 frs-core:FurnitureFittings 2023-09-01 2024-08-31 05011668 frs-core:FurnitureFittings 2023-08-31 05011668 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-08-31 05011668 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 05011668 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-08-31 05011668 frs-core:PlantMachinery 2024-08-31 05011668 frs-core:PlantMachinery 2023-09-01 2024-08-31 05011668 frs-core:PlantMachinery 2023-08-31 05011668 frs-core:ShareCapital 2024-08-31 05011668 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 05011668 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05011668 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 05011668 frs-bus:SmallEntities 2023-09-01 2024-08-31 05011668 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 05011668 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05011668 frs-bus:Director1 2023-09-01 2024-08-31 05011668 frs-bus:Director2 2023-09-01 2024-08-31 05011668 frs-bus:Director3 2023-09-01 2024-08-31 05011668 frs-bus:Director4 2023-09-01 2024-08-31 05011668 frs-bus:CompanySecretary1 2023-09-01 2024-08-31 05011668 frs-countries:EnglandWales 2023-09-01 2024-08-31 05011668 2022-08-31 05011668 2023-08-31 05011668 2022-09-01 2023-08-31 05011668 frs-core:CurrentFinancialInstruments 2023-08-31 05011668 frs-core:Non-currentFinancialInstruments 2023-08-31 05011668 frs-core:ShareCapital 2023-08-31 05011668 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 05011668
Hair Academy South West Limited
Unaudited Financial Statements
For The Year Ended 31 August 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05011668
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 498,264 504,826
Investment Properties 5 393,633 393,633
891,897 898,459
CURRENT ASSETS
Stocks 6 19,500 12,094
Debtors 7 11,989 31,851
Cash at bank and in hand 50,233 11,335
81,722 55,280
Creditors: Amounts Falling Due Within One Year 8 (276,168 ) (216,676 )
NET CURRENT ASSETS (LIABILITIES) (194,446 ) (161,396 )
TOTAL ASSETS LESS CURRENT LIABILITIES 697,451 737,063
Creditors: Amounts Falling Due After More Than One Year 9 (22,631 ) (25,139 )
NET ASSETS 674,820 711,924
CAPITAL AND RESERVES
Called up share capital 10 20 20
Profit and Loss Account 674,800 711,904
SHAREHOLDERS' FUNDS 674,820 711,924
Page 1
Page 2
For the year ending 31 August 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 directors acknowledge their 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
Mrs Karly Flitton
Director
Ms Abby Whittaker
Director
8 August 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
Hair Academy South West Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05011668 . The registered office is 120 East Reach, Taunton, Somerset, TA1 3HL.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Freehold 2% straight line
Plant & Machinery 20% reducing balance
Fixtures & Fittings 10% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. 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.
2.6. 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.
...CONTINUED
Page 3
Page 4
2.6. Taxation - continued
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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2023: 18)
24 18
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 September 2023 666,362 353,329 80,113 1,099,804
Additions - - 5,239 5,239
Disposals (9,725 ) - - (9,725 )
As at 31 August 2024 656,637 353,329 85,352 1,095,318
Depreciation
As at 1 September 2023 183,394 331,471 80,113 594,978
Provided during the period (1 ) 4,373 524 4,896
Disposals (2,820 ) - - (2,820 )
As at 31 August 2024 180,573 335,844 80,637 597,054
Net Book Value
As at 31 August 2024 476,064 17,485 4,715 498,264
As at 1 September 2023 482,968 21,858 - 504,826
5. Investment Property
2024
£
Fair Value
As at 1 September 2023 and 31 August 2024 393,633
6. Stocks
2024 2023
£ £
Stock 19,500 12,094
Page 4
Page 5
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,573 16,748
Other debtors 9,416 15,103
11,989 31,851
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 9,217 22,732
Other creditors 239,862 174,150
Taxation and social security 27,089 19,794
276,168 216,676
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors 22,631 25,139
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 20 20
Page 5