Company registration number: 11925931
Annual report and unaudited financial statements
for the year ended 31 March 2026
for
Modify Hair Lounge Ltd
Pages for filing with the Registrar
Company registration number: 11925931
Modify Hair Lounge Ltd
Balance sheet
as at 31 March 2026
2026 2025
Note £ £ £ £
Fixed assets
Tangible assets 4 177 307
177 307
Current assets
Stocks 2,550 2,475
Debtors 5 7,540 6,721
Cash at bank and in hand 2,795 20,390
12,885 29,586
Creditors: amounts falling due within one
year 		6 (4,962) (16,040)
Net current assets 7,923 13,546
Total assets less current liabilities 8,100 13,853
Creditors: Amounts falling due after more
than one year 		7 - (600)
Provisions for liabilities (34) (59)
NET ASSETS 8,066 13,194
Capital and reserves
Called up share capital 200 200
Profit and loss account 7,866 12,994
TOTAL EQUITY 8,066 13,194
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2026.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 11925931
Modify Hair Lounge Ltd
Balance sheet - continued
as at 31 March 2026
The 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 5 May 2026 and signed on its behalf by:
Ms D Cutting, Director Mr J Hayter, Director
5 May 2026 5 May 2026
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Modify Hair Lounge Ltd
Notes to the financial statements
for the year ended 31 March 2026
1 Company information
Modify Hair Lounge Ltd is a private company registered in England and Wales. Its registered number is 11925931. The company is limited by shares. Its registered office is 31 St Nicholas Street, Ipswich, Suffolk, IP1 1TW.
2 Accounting policies
Basis of preparing the 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 historic cost convention.
Presentation currency
The company's financial statements are presented in sterling.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 33% straight line
Furniture and fittings - 25% reducing balance
Office equipment - 33% straight line
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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Modify Hair Lounge Ltd
Notes to the financial statements - continued
for the year ended 31 March 2026
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 2 (2025 - 2).
4 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 April 2025 10,277
At 31 March 2026 10,277
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Modify Hair Lounge Ltd
Notes to the financial statements - continued
for the year ended 31 March 2026
4 Tangible fixed assets - continued
Depreciation
At 1 April 2025 9,970
Charge for year 130
At 31 March 2026 10,100
Net book value
At 31 March 2026 177
At 31 March 2025 307
5 Debtors
2026 2025
£ £
Other debtors 7,540 6,721
6 Creditors: amounts falling due within one year
2026 2025
£ £
Bank loans and overdrafts 600 3,600
Other creditors 4,362 3,646
Taxation - 8,794
4,962 16,040
7 Creditors: amounts falling due after more than one year
2026 2025
£ £
Bank loans - 600
8 Controlling party
The controlling part is Ms DM Cutting.
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