COMPANY REGISTRATION NUMBER:
07581376
|
The Hair Lounge Rossett Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
The Hair Lounge Rossett Limited |
|
|
Statement of Financial Position |
|
31 March 2026
Fixed assets
|
Tangible assets |
5 |
|
2,074 |
3,313 |
|
|
|
|
|
Current assets
|
Stocks |
16,136 |
|
16,254 |
|
Debtors |
6 |
16,674 |
|
38,692 |
|
Cash at bank and in hand |
35,764 |
|
27,251 |
|
-------- |
|
-------- |
|
68,574 |
|
82,197 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
58,675 |
|
54,781 |
|
-------- |
|
-------- |
|
Net current assets |
|
9,899 |
27,416 |
|
|
-------- |
-------- |
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Total assets less current liabilities |
|
11,973 |
30,729 |
|
|
-------- |
-------- |
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Net assets |
|
11,973 |
30,729 |
|
|
-------- |
-------- |
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|
|
|
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Capital and reserves
|
Called up share capital |
|
3 |
3 |
|
Profit and loss account |
|
11,970 |
30,726 |
|
|
-------- |
-------- |
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Shareholders funds |
|
11,973 |
30,729 |
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|
-------- |
-------- |
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|
|
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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 March 2026 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
.
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The Hair Lounge Rossett Limited |
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Statement of Financial Position (continued) |
|
31 March 2026
These financial statements were approved by the
board of directors
and authorised for issue on
23 June 2026
, and are signed on behalf of the board by:
|
D V Wilson |
F E Cupit |
|
Director |
Director |
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Company registration number:
07581376
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The Hair Lounge Rossett Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2026
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Beechfield House, Station Road, Rossett, Wrexham, LL12 0HE.
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.The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents the amounts due for the work completed during the year and excludes VAT.
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.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
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Plant and Machinery |
- |
25% reducing balance |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2025:
6
).
5.
Tangible assets
|
Plant and machinery |
Total |
|
£ |
£ |
|
Cost |
|
|
|
At 1 April 2025 |
21,901 |
21,901 |
|
Disposals |
(
3,844) |
(
3,844) |
|
-------- |
-------- |
|
At 31 March 2026 |
18,057 |
18,057 |
|
-------- |
-------- |
|
Depreciation |
|
|
|
At 1 April 2025 |
18,588 |
18,588 |
|
Charge for the year |
692 |
692 |
|
Disposals |
(
3,297) |
(
3,297) |
|
-------- |
-------- |
|
At 31 March 2026 |
15,983 |
15,983 |
|
-------- |
-------- |
|
Carrying amount |
|
|
|
At 31 March 2026 |
2,074 |
2,074 |
|
-------- |
-------- |
|
At 31 March 2025 |
3,313 |
3,313 |
|
-------- |
-------- |
|
|
|
6.
Debtors
|
2026 |
2025 |
|
£ |
£ |
|
Trade debtors |
2,103 |
230 |
|
Other debtors |
14,571 |
38,462 |
|
-------- |
-------- |
|
16,674 |
38,692 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2026 |
2025 |
|
£ |
£ |
|
Social security and other taxes |
49,992 |
48,650 |
|
Other creditors |
8,683 |
6,131 |
|
-------- |
-------- |
|
58,675 |
54,781 |
|
-------- |
-------- |
|
|
|
8.
Directors' advances, credits and guarantees
The directors operated a loan account with the company. The opening balance on this account was £37,437 owed by the directors (2025 £359 owed to the directors) with net movement of £26,909 and a closing balance of £10,527 owed by the directors(2025 £37,437). The account is repayable on demand and interest free.
9.
Related party transactions
The directors who are also shareholders, own a property that was rented to the company in the year. The total amount of rent paid by the company to the directors for the property in the year was £23,000. The amount outstanding to the directors at the year end was £nil. The company operated a loan account with a partnership in which the directors are partners. £0 was owed to the company at the end of the period. No further transactions with related parties were undertaken such as are required to be disclosed other than the operation of a directors loan account.