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The Priory Hair Lounge Limited Statement of financial position as at 31 March 2026
2026
2025
Notes
£
£
Fixed assets
Intangible assets
4
46,908
68,558
Tangible assets
5
8,452
5,107
55,360
73,665
Current assets
Inventories
11,881
12,984
Debtors
6
49,724
42,607
Cash at bank and in hand
16,872
20,005
78,477
75,596
Creditors: amounts falling due within one year
7
(90,474)
(81,693)
Net current liabilities
(11,997)
(6,097)
Total assets less current liabilities
43,363
67,568
Creditors: amounts falling due after more than one year
8
(38,261)
(65,166)
Provisions for liabilities
Deferred tax
(1,009)
(1,009)
Net assets
4,093
1,393
Capital and reserves
Called up share capital
100
100
Profit and loss account
3,993
1,293
Shareholders' funds
4,093
1,393
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 July 2026 and were signed on its behalf by
Mrs N J Kittle Director Company Registration No. 11256762
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The Priory Hair Lounge Limited Notes to the Accounts for the year ended 31 March 2026
1
Statutory information
The Priory Hair Lounge Limited is a private company, limited by shares, registered in England and Wales, registration number 11256762. The registered office is 93-95 Oliver's Battery Road South, Oliver's Battery , Winchester, Hampshire, SO22 4JQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Going concern
The financial statements have been prepared on a going concern basis based on the continued support of the director. These accounts still do show some effect of the COVID-10 pandemic with some support from government grants.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the length of the lease
Plant & machinery
25% Reducing Balance
Fixtures & fittings
25% Reducing Balance
Computer equipment
25% Reducing Balance
Goodwill
Goodwill, being paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of ten years.
Stocks
Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 2 -
The Priory Hair Lounge Limited Notes to the Accounts for the year ended 31 March 2026
Financial instruments
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Government grants
Coronavirus Job retention Scheme: the accrual model has been used to recognised the grant on a systematic basis over the periods in which the related staff costs are incurred. Bounce Back Loans schemes: The company has also benefited from the UK governments provision of security for 100% of the loan. The accrual model has been used to recognise the income on a systematic basis over the period in which the related finance costs are incurred.
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2025
216,499
At 31 March 2026
216,499
Amortisation
At 1 April 2025
147,941
Charge for the year
21,650
At 31 March 2026
169,591
Net book value
At 31 March 2026
46,908
At 31 March 2025
68,558
- 3 -
The Priory Hair Lounge Limited Notes to the Accounts for the year ended 31 March 2026
5
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2025
2,880
6,210
7,408
1,804
18,302
Additions
1,855
1,625
-
905
4,385
At 31 March 2026
4,735
7,835
7,408
2,709
22,687
Depreciation
At 1 April 2025
2,880
2,860
6,264
1,191
13,195
Charge for the year
-
683
286
71
1,040
At 31 March 2026
2,880
3,543
6,550
1,262
14,235
Net book value
At 31 March 2026
1,855
4,292
858
1,447
8,452
At 31 March 2025
-
3,350
1,144
613
5,107
6
Debtors
2026
2025
£
£
Amounts falling due within one year
Trade debtors
-
(9)
Accrued income and prepayments
4,066
4,066
Other debtors
34,391
27,003
38,457
31,060
Amounts falling due after more than one year
Other debtors
11,267
11,547
7
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans and overdrafts
3,971
3,503
VAT
15,769
13,041
Trade creditors
6,125
8,085
Taxes and social security
25,642
19,921
Other creditors
37,067
35,343
Accruals
1,900
1,800
90,474
81,693
8
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans
10,624
14,595
Other creditors
27,637
50,571
38,261
65,166
- 4 -
The Priory Hair Lounge Limited Notes to the Accounts for the year ended 31 March 2026
9
Operating lease commitments
2026
2025
£
£
At 31 March 2026 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
15,140
15,140
Later than one year and not later than five years
6,845
6,845
21,985
21,985
10
Loans to directors
Brought Forward
Advance/ credit
Repaid
Carried Forward
£
£
£
£
Mrs N J Kittle
Mrs N J Kittle
27,003
9,071
1,683
34,391
27,003
9,071
1,683
34,391
Interest has been charged on the above loan at HM Revenue and Customs official rate of interest and the loan is repayable on demand.
11
Average number of employees
During the year the average number of employees was 10 (2025: 10).
- 5 -