RUSSO HAIRDRESSING LIMITED


Directors	RUSSO, Michele Terence
	RUSSO, Michelle


Registered Address	Excel House
	3 Duke Street
	Bedford
	MK40 3HR


Registered Number	07356924 (England and Wales)

Balance Sheet as at
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		366,851		367,440
			366,851		367,440
Current assets
Stocks	5	350		300
Debtors		-		340
Cash at bank and on hand		-		3,350
		350		3,990
Creditors amounts falling due within one year	6	(37,940)		(33,275)
Net current assets (liabilities)			(37,590)		(29,285)
Total assets less current liabilities			329,261		338,155
Creditors amounts falling due after one year	7		(64,710)		(88,194)
Provisions for liabilities	8		(1,270)		(1,270)
Accruals and deferred income			(1,000)		(1,000)
Net assets			262,281		247,691
Capital and reserves
Called up share capital			200		200
Profit and loss account			262,081		247,491
Shareholders' funds			262,281		247,691

The company was entitled to exemption from audit for this reporting period 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 in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 4 September 2025, and are signed on its behalf by:

RUSSO, Michelle
Director
Registered Company No. 07356924

RUSSO HAIRDRESSING LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Revenue from rendering of services
	Revenue 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.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	No intangible assets

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Fixtures and fittings	20
	Office Equipment	20

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	6		4

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 January 24	25,000	25,000
At 31 December 24	25,000	25,000
Amortisation and impairment
At 01 January 24	25,000	25,000
At 31 December 24	25,000	25,000
Net book value
At 31 December 24	-	-
At 31 December 23	-	-

4.	Tangible fixed assets

	Land & buildings	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 January 24	363,331	8,906	16,345	388,582
Additions	-	-	291	291
At 31 December 24	363,331	8,906	16,636	388,873
Depreciation and impairment
At 01 January 24	-	8,391	12,751	21,142
Charge for year	-	103	777	880
At 31 December 24	-	8,494	13,528	22,022
Net book value
At 31 December 24	363,331	412	3,108	366,851
At 31 December 23	363,331	515	3,594	367,440

5.	Stocks

	2024	2023
	£	£
Other stocks	350	300
Total	350	300

6.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	188	994
Bank borrowings and overdrafts	13,354	6,355
Taxation and social security	24,398	25,926
Total	37,940	33,275


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

7.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	34,210	41,175
Other creditors	30,500	47,019
Total	64,710	88,194

8.	Provisions for liabilities

	2024	2023
	£	£
Net deferred tax liability (asset)	1,270	1,270
Total	1,270	1,270