Company No: 05550556 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Lorenzo Colangelo

SECRETARY

Sian Colangelo

REGISTERED OFFICE	63-67 London Road
	Southborough
	TN4 0PA
	United Kingdom

COMPANY NUMBER

05550556 (England and Wales)

ACCOUNTANT	Synergee
	Pluto House
	6 Vale Avenue
	Tunbridge Wells
	TN1 1DJ

	Note	28.02.2026		28.02.2025
		£		£
				Restated - note 2
Fixed assets
Tangible assets	4	93,878		124,233
		93,878		124,233
Current assets
Stocks	5	23,909		3,500
Debtors	6	17,092		55,908
Cash at bank and in hand	7	217,405		176,675
		258,406		236,083
Creditors: amounts falling due within one year	8	( 121,724)		( 112,512)
Net current assets		136,682		123,571
Total assets less current liabilities		230,560		247,804
Creditors: amounts falling due after more than one year	9	( 80,000)		( 110,457)
Net assets		150,560		137,347
Capital and reserves
Called-up share capital	10	100		100
Profit and loss account		150,460		137,247
Total shareholders' funds		150,560		137,347

For the financial year ending 28 February 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Gallery Hairdressing Limited (registered number: 05550556) were approved and authorised for issue by the Director on 18 July 2026. They were signed on its behalf by:

Lorenzo Colangelo Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Gallery Hairdressing Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 63-67 London Road, Southborough, TN4 0PA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Prior year adjustment

[Disclose the nature of the prior period adjustment, and (if practicable);
(i) for each prior period presented, the amount of the correction for each financial statement line item affected; and
(ii) the amount of the correction at the beginning of the earliest prior period presented; or an explanation if it is not practicable to disclose these amounts for (i) and (ii).]

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	10 years straight line
Plant and machinery etc.	25 % reducing balance
	3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Prior year adjustment

During the year, the directors identified that dividends declared in the prior year had been overstated by £30,000. As a result, the comparative figures have been restated to correct this error.

The adjustment has reduced dividends recognised in the prior year by £30,000 and increased retained earnings at the beginning of the current year by the same amount. The correction has no impact on the current year's profit or loss.

3. Employees

	28.02.2026		28.02.2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	28		28

4. Tangible assets

	Land and buildings		Plant and machinery etc.		Total
	£		£		£
Cost
At 01 March 2025	295,021		271,898		566,919
Additions	0		1,870		1,870
At 28 February 2026	295,021		273,768		568,789
Accumulated depreciation
At 01 March 2025	177,013		265,673		442,686
Charge for the financial year	29,502		2,723		32,225
At 28 February 2026	206,515		268,396		474,911
Net book value
At 28 February 2026	88,506		5,372		93,878
At 28 February 2025	118,008		6,225		124,233

5. Stocks

	28.02.2026		28.02.2025
	£		£
Stocks	23,909		3,500

6. Debtors

	28.02.2026		28.02.2025
	£		£
Other debtors	17,092		55,908

7. Cash and cash equivalents

	28.02.2026		28.02.2025
	£		£
Cash at bank and in hand	217,405		176,675

8. Creditors: amounts falling due within one year

	28.02.2026		28.02.2025
	£		£
Bank loans (secured)	26,187		25,297
Taxation and social security	86,571		79,893
Other creditors	8,966		7,322
	121,724		112,512

9. Creditors: amounts falling due after more than one year

	28.02.2026		28.02.2025
	£		£
Bank loans (secured)	80,000		110,457

A bank loan is secured by a fixed and floating charge over all company property.

10. Called-up share capital

	28.02.2026		28.02.2025
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

11. Related party transactions

Transactions with the entity's director

As at 28 February 2026, the director owed £5,487 (2025: £52,187) to the company. In the year then ended, £5,487 was advanced, £52,187 has been repaid, £nil has been written off, and £nil has been waived.

Amounts advanced to director are unsecured and repayable on demand. Interest is charged at HMRC's official rate.

During the year the company paid the director £48,000 (2025: £48,000) for rent of the business premises.