Barnets Hairco Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08884661

Barnets Hairco Limited

Filleted Unaudited Financial Statements

31 January 2025

Barnets Hairco Limited

Financial Statements

Year ended 31 January 2025

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Barnets Hairco Limited

Statement of Financial Position

31 January 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6	18,549	18,820
Investments	7	567,034	567,034
		---------	---------
		585,583	585,854

Current assets

Debtors	8	2,761	–
Cash at bank and in hand		73,063	1,488
		--------	-------
		75,824	1,488

Creditors: amounts falling due within one year	9	94,203		130,262
		--------		---------
Net current liabilities			18,379	128,774
			---------	---------
Total assets less current liabilities			567,204	457,080

Provisions	646	697
	---------	---------
Net assets	566,558	456,383
	---------	---------

Barnets Hairco Limited

Statement of Financial Position (continued)

31 January 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	2	2
Profit and loss account	566,556	456,381
	---------	---------
Shareholders funds	566,558	456,383
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 7 October 2025 , and are signed on behalf of the board by:

Miss E L Cataldo

Director

Company registration number: 08884661

Barnets Hairco Limited

Notes to the Financial Statements

Year ended 31 January 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 40 Kimbolton Road, Bedford, MK40 2NR.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Deferred taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Over 2 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	20% reducing balance
Computer equipment	-	30% reducing balance

Investments

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 6 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 February 2024 and 31 January 2025	10,000
	--------
Amortisation
At 1 February 2024 and 31 January 2025	10,000
	--------
Carrying amount
At 31 January 2025	–
	--------
At 31 January 2024	–
	--------

6. Tangible assets

	Long leasehold property	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 February 2024	15,152	9,840	6,543	31,535
Additions	–	762	–	762
	--------	--------	-------	--------
At 31 January 2025	15,152	10,602	6,543	32,297
	--------	--------	-------	--------
Depreciation
At 1 February 2024	–	8,784	3,931	12,715
Charge for the year	–	249	784	1,033
	--------	--------	-------	--------
At 31 January 2025	–	9,033	4,715	13,748
	--------	--------	-------	--------
Carrying amount
At 31 January 2025	15,152	1,569	1,828	18,549
	--------	--------	-------	--------
At 31 January 2024	15,152	1,056	2,612	18,820
	--------	--------	-------	--------

7. Investments

	Investment property
	£
Cost
At 1 February 2024 and 31 January 2025	567,034
	---------
Impairment
At 1 February 2024 and 31 January 2025	–
	---------

Carrying amount
At 31 January 2025	567,034
	---------
At 31 January 2024	567,034
	---------

The directors do not consider the market value of the investment property to be materially different to the value shown in the accounts.

8. Debtors

	2025	2024
	£	£
Trade debtors	2,761	–
	-------	----

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,523	6,604
Corporation tax	51,711	53,631
Social security and other taxes	32,492	31,325
Other creditors	6,477	38,702
	--------	---------
	94,203	130,262
	--------	---------