Andrew Mulvenna Hair Limited - Filleted accounts

Andrew Mulvenna Hair Limited
Registered number:		NI038548
Balance Sheet
as at 31 March 2025
Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		124,566			152,089
Leasehold land & buildings	4		386,733			386,733
Investments	5		6,970			6,970
			518,269			545,792
Current assets
Stocks		16,260			20,979
Debtors	6	175			13,278
Cash at bank and in hand		119,765			126,007
		136,200			160,264
Creditors: amounts falling due within one year	7	(200,258)			(221,201)

Net current liabilities			(64,058)			(60,937)

Total assets less current liabilities			454,211			484,855

Creditors: amounts falling due after more than one year	8		(40,772)			(75,322)

Provisions for liabilities			(16,089)			(19,380)

Net assets			397,350			390,153

Capital and reserves
Called up share capital			2			2
Profit and loss account			397,348			390,151

Shareholder's funds			397,350			390,153

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Mr A Mulvenna
Director
Approved by the board on 18 November 2025

Andrew Mulvenna Hair Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applicable to small entities by section 1A of the standard).

	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 from both the sale of goods and the rendering of services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Expenditure on leasehold premises			over 10 years
	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Investments
	Investments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

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

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					28		27


3	Tangible fixed assets
				Expenditure on leasehold premises		Plant and machinery etc		Total
£					£		£
	Cost
	At 1 April 2024			130,535		320,564		451,099
	Additions			-		8,243		8,243
	Disposals			-		(215,704)		(215,704)
	At 31 March 2025			130,535		113,103		243,638

	Depreciation
	At 1 April 2024			65,298		233,712		299,010
	Charge for the year			13,053		22,713		35,766
	On disposals			-		(215,704)		(215,704)
	At 31 March 2025			78,351		40,721		119,072

	Net book value
	At 31 March 2025			52,184		72,382		124,566
	At 31 March 2024			65,237		86,852		152,089


4	Leasehold land & buildings					2025		2024
£							£
	Historical cost
	At 1 April 2024					386,733		386,733
	At 31 March 2025					386,733		386,733
	Depreciation
	At 1 April 2024					-		-
	At 31 March 2025					-		-

	At 31 March 2025					386,733		386,733

	Business premises at 161/163 Victoria Street, Belfast, BT2 87LA were purchased by the company in July 2017 for use as a hair dressing salon. The premises are held on a long lease for a term of 850 years. The property has been valued at cost. No depreciation has been provided on the property as, in the opinion of the director, this results in a true and fair view.


5	Investments
Other
investments
£
	Cost
	At 1 April 2024					6,970

	At 31 March 2025					6,970


6	Debtors					2025		2024
£							£

	Trade debtors					-		12,490
	Other debtors					175		788
						175		13,278


7	Creditors: amounts falling due within one year					2025		2024
£							£

	Bank loans and overdrafts					42,771		42,745
	Trade creditors					-		5,958
	Corporation tax					59,122		36,262
	Other taxes and social security costs					61,583		67,025
	Other creditors					36,782		69,211
						200,258		221,201


8	Creditors: amounts falling due after one year					2025		2024
£							£

	Bank loans					40,772		75,322


	Loans					2025		2024
£							£
	Creditors include:
	Instalments falling due for payment after more than five years					-		-


	Secured bank loans					64,376		88,900

	Bank loans are secured as follows:-

	- a first legal charge held by Santander Bank over the leasehold property at 161/163 Victoria Street, Belfast, BT2 87LA

	- and a debenture charging all of the assets and undetakings of the company

9	Loans to directors
	Description and conditions

	The director's current account was overdrawn by £147,341 in March 2025. However, the balance on his overdrawn current account was repaid in full by 31 March 2025.

	Loan interest has been charged on the overdrawn balance on the director's current account based on HM Revenue & Customs official rate of interest for beneficial loan arrangements.

	The transactions on the director's current account can be summarised as follows:

B/fwd			Paid		Repaid		C/fwd
£			£		£		£
	Mr A Mulvenna	393		(156,735)		156,750		408

		393		(156,735)		156,750		408


10	Controlling party

	Andrew Mulvenna Hair Limited was under the control of Mr Andrew Mulvenna throughout the current and previous year. Mr Mulvenna is the managing director and controlling shareholder of the company.


11	Other information

	Andrew Mulvenna Hair Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:

	161/163 Victoria Street
	Belfast, BT2 8LA