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Registered number: 11139583
Hairstory Products UK Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 December 2024
McKenzies ATS Ltd
Contents
Page
Abridged Balance Sheet 1
Notes to the Abridged Financial Statements 2—3
Page 1
Abridged Balance Sheet
Registered number: 11139583
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 200,562 329,812
Debtors 91,707 91,705
Cash at bank and in hand 273,334 494,333
565,603 915,850
Creditors: Amounts Falling Due Within One Year (783,589 ) (1,011,268 )
NET CURRENT ASSETS (LIABILITIES) (217,986 ) (95,418 )
TOTAL ASSETS LESS CURRENT LIABILITIES (217,986 ) (95,418 )
NET LIABILITIES (217,986 ) (95,418 )
CAPITAL AND RESERVES
Called up share capital 100 100
Profit and Loss Account (218,086 ) (95,518 )
SHAREHOLDERS' FUNDS (217,986) (95,418)
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 member has 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.
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.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
E Halliwell
Director
29th September 2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Abridged Financial Statements
1. General Information
Hairstory Products Uk Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The parent company will continue supporting the company financially by way of a non-interest bearing loan and expects that the company will be profitable and reduce the shareholder funds deficit in the short to medium term.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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. 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.
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
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.
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Page 3
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Related Party Transactions
Hair Ventures Llc - the parent company, incorporated in the USA. During the year the parent company recharged group expenses to the company of £1,054,590 (2023 - £1,224,131). The balance owed to Hair Ventures Llc at the balance sheet date is £521,613 (2023 - £859,748).
5. Ultimate Controlling Party
The controlling party is Hair Ventures LLC.
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