31 March 2020 v2025.79.1 limited_company_frs_102_section_1a_v1_1_3 companies_houseSoftwarefalsetruetruetrueNo description of principal activity0falsetruexbrli:purexbrli:sharesiso4217:GBP104103102020-03-312021-03-30104103102021-03-30104103102020-03-3010410310core:WithinOneYear2021-03-3010410310core:WithinOneYear2020-03-3010410310core:AfterOneYear2021-03-3010410310core:AfterOneYear2020-03-3010410310core:ShareCapital2021-03-3010410310core:ShareCapital2020-03-3010410310core:SharePremium2021-03-3010410310core:SharePremium2020-03-3010410310core:RetainedEarningsAccumulatedLosses2021-03-3010410310core:RetainedEarningsAccumulatedLosses2020-03-3010410310bus:Director12020-03-312021-03-3010410310bus:Director22020-03-312021-03-3010410310bus:RegisteredOffice2020-03-312021-03-30104103102019-04-012020-03-3010410310core:CostValuation2020-03-3110410310core:CostValuation2021-03-301041031012020-03-312021-03-3010410310countries:EnglandWales2020-03-312021-03-3010410310bus:AuditExemptWithAccountantsReport2020-03-312021-03-3010410310bus:PrivateLimitedCompanyLtd2020-03-312021-03-3010410310bus:SmallEntities2020-03-312021-03-3010410310bus:FullAccounts2020-03-312021-03-30
Company registration number:
10410310
Rush Hair Group Limited
Unaudited Filleted Financial Statements for the year ended
30 March 2021
Rush Hair Group Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Rush Hair Group Limited
Year ended
30 March 2021
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Rush Hair Group Limited
for the year ended
30 March 2021
which comprise the income statement, statement of financial position, statement of changes in equity and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Rush Hair Group Limited
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Rush Hair Group Limited
and state those matters that I have agreed to state to the Board of Directors of
Rush Hair Group Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​tf-163-jan-24.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Rush Hair Group Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Rush Hair Group Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and loss of
Rush Hair Group Limited
. You consider that
Rush Hair Group Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Rush Hair Group Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Gregory and Co Ltd
49 Bassett Avenue
Southampton
Hampshire
SO16 7DU
United Kingdom
Rush Hair Group Limited
Statement of Financial Position
30 March 2021
20212020
Note££
Fixed assets    
Investments 5
6,000,000
 
6,000,000
 
Current assets    
Debtors 6
136,746
 
4,552
 
Cash at bank and in hand
469
 
2,818
 
137,215
 
7,370
 
Creditors: amounts falling due within one year 7
(369,935
 )
(93,145
 )
Net current liabilities
(232,720
 )
(85,775
 )
Total assets less current liabilities 5,767,280   5,914,225  
Creditors: amounts falling due after more than one year 8
(5,136,458
 )
(4,650,296
 )
Net assets
630,822
 
1,263,929
 
Capital and reserves    
Called up share capital
6,074
 
6,074
 
Share premium
18,261,064
 
18,261,064
 
Profit and loss account
(17,636,316
 )
(17,003,209
 )
Shareholders funds
630,822
 
1,263,929
 
For the year ending
30 March 2021
, 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
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
2 December 2025
, and are signed on behalf of the board by:
Mr A Phouli
Mr S Andrew
DirectorDirector
Company registration number:
10410310
Rush Hair Group Limited
Notes to the Financial Statements
Year ended
30 March 2021

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
25a George Street
,
Croydon
,
CR0 1LB
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

The Group consolidates all subsidiaries over which it has control, being the power to govern the financial and operating policies to obtain benefits. Control is presumed to exist when the Group holds, directly or indirectly, more than half of the voting rights or otherwise has the ability to direct the relevant activities of the entity. A subsidiary is excluded from consolidation only in circumstances where severe long-term restrictions substantially hinder the Group’s ability to exercise control or realise economic benefits from its activities. Such restrictions may arise from legal, regulatory, or contractual barriers that prevent the transfer of funds to the parent or significantly impair the Group’s ability to direct the subsidiary’s operations. Where a subsidiary is excluded on this basis, the investment is recognised in the Company’s separate financial statements at cost less impairment, or at fair value through profit or loss if elected. The nature of the restriction and the reasons for non-consolidation are disclosed in the notes to the financial statements.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.
Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.
All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

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 Average number of employees

The average number of persons employed by the company during the year was nil (2020:
4
).

5 Investments

Shares in group undertakings and participating interests
£
Cost  
At
31 March 2020
6,000,000
 
At
30 March 2021
6,000,000
 
Impairment  
At
31 March 2020
and
30 March 2021
 -  
Carrying amount  
At
30 March 2021
6,000,000
 
At 30 March 2020
6,000,000
 
The parent company has not prepared consolidated financial statement as its main subsidiary, RHL Realisations 2022 Limited (formerly Rush Hair Limited) , entered into liquidation on 30 June 2022. The directors believe that in accordance with Section 9.9a severe long-term restrictions substantially hinder the exercise of the rights of the parent over the assets or management of the subsidiary. As a result, the directors have taken the decision not to prepare consolidated financial statement as the sole trading subsidiary went into liquidation. In accordance with FRS 102 Section 9 , the investment in the subsidiaries has therefore been recognised in the company’s financial statements at cost less impairment.
The directors are of the opinion that there has been an impairment of £ 9,716,421 as per their assessment as at 30th March 2020.

6 Debtors

20212020
££
Other debtors
136,746
 
4,552
 

7 Creditors: amounts falling due within one year

20212020
££
Trade creditors
23,460
 
24,146
 
Taxation and social security
304,575
 
32,099
 
Other creditors
41,900
 
36,900
 
369,935
 
93,145
 

8 Creditors: amounts falling due after more than one year

20212020
££
Other creditors
5,136,458
 
4,650,296