CUTTLEFISH HAIRDRESSING LIMITED


Directors	CHIUCHIOLO, Fabio
	COX, Stephen Alfie


Company Secretary	COX, Stephen Alfie


Registered Address	Sussex Innovation Centre
	Science Park Square
	Brighton
	BN1 9SB


Registered Number	04472134 (England and Wales)

Notes to the Financial Statements
for the year ended 31 August 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention, modified to include the revaluation of land and buildings, and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes. Land and buildings are stated in the balance sheet at their revalued amount, being fair value at the date of revaluation less any subsequent accumulated depreciation and accumulated impairment losses. Revaluation gains are recognised in other comprehensive income and accumulated in the revaluation reserve. Revaluation decreases, including impairment losses on revalued land and buildings, are recognised in other comprehensive income to the extent of any previous revaluation surplus for that asset, with any excess recognised in profit or loss. All other property, plant and equipment is stated under the historic cost model, at cost less amounts in respect of depreciation and less any accumulated impairment losses. No depreciation is provided on the leasehold property, which is held on a very long lease. The directors consider that its remaining useful life is so long, and its residual value so close to its carrying amount, that any depreciation charge would be immaterial. The property is reviewed for impairment at each reporting date. Depreciation is calculated so as to write off the cost or valuation of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes. Land and buildings are stated in the balance sheet at their revalued amount, being fair value at the date of revaluation less any subsequent accumulated depreciation and accumulated impairment losses. Revaluation gains are recognised in other comprehensive income and accumulated in the revaluation reserve. Revaluation decreases, including impairment losses on revalued land and buildings, are recognised in other comprehensive income to the extent of any previous revaluation surplus for that asset, with any excess recognised in profit or loss. All other property, plant and equipment is stated under the historic cost model, at cost less amounts in respect of depreciation and less any accumulated impairment losses. No depreciation is provided on the leasehold property, which is held on a very long lease. The directors consider that its remaining useful life is so long, and its residual value so close to its carrying amount, that any depreciation charge would be immaterial. The property is reviewed for impairment at each reporting date. Depreciation is calculated so as to write off the cost or valuation of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	-	10
Fixtures and fittings	25	-
Office Equipment	-	5

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	20		22

3.	Revaluation of intangible assets

4.	Tangible fixed assets

	Land & buildings	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 September 25	108,000	31,147	65,113	4,964	209,224
Additions	-	-	1,416	1,851	3,267
Revaluations	(20,400)	-	-	-	(20,400)
Disposals	-	(600)	-	-	(600)
At 31 August 26	87,600	30,547	66,529	6,815	191,491
Depreciation and impairment
At 01 September 25	-	9,345	44,779	2,750	56,874
Charge for year	-	3,054	5,193	1,049	9,296
On disposals	-	(180)	-	-	(180)
At 31 August 26	-	12,219	49,972	3,799	65,990
Net book value
At 31 August 26	87,600	18,328	16,557	3,016	125,501
At 31 August 25	108,000	21,802	20,334	2,214	152,350


	The revaluation decrease of £20,400 in land and buildings arises from an impairment of the company's leasehold property, which has been recognised against the revaluation reserve.

5.	Impairment of tangible fixed assets
	During the year the directors reviewed the carrying amount of the company's leasehold property and identified indicators of impairment. The recoverable amount of the property was assessed at £87,600, resulting in an impairment loss of £20,400. As the property is measured under the revaluation model, the impairment loss has been treated as a revaluation decrease and recognised in other comprehensive income against the revaluation reserve, to the extent of the surplus previously recognised in respect of that asset. No impairment loss has been recognised in profit or loss.

Impairment of tangible fixed assets

During the year the directors reviewed the carrying amount of the company's leasehold property and identified indicators of impairment. The recoverable amount of the property was assessed at £87,600, resulting in an impairment loss of £20,400. As the property is measured under the revaluation model, the impairment loss has been treated as a revaluation decrease and recognised in other comprehensive income against the revaluation reserve, to the extent of the surplus previously recognised in respect of that asset. No impairment loss has been recognised in profit or loss.

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	22,980	21,650
Amounts owed by group undertakings	54,752	60,026
Total	77,732	81,676

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	22,772	16,120
Taxation and social security	86,981	80,801
Finance lease and HP contracts	753	-
Other creditors	77,691	72,192
Accrued liabilities and deferred income	140	-
Total	188,337	169,113

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	11,371
Other creditors	60,083	42,856
Total	60,083	54,227

9.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	4,893	5,637
Total	4,893	5,637

10.	Revaluation reserve
	The movement on the revaluation reserve of £20,400 represents an impairment of the company's leasehold property, recognised in other comprehensive income as a revaluation decrease.


		£
	Reserve at 01 September 25	75,000
	Revaluations of plant, property and equipment	(20,400)
	At 31 August 26	54,600

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	4		125,501		152,350
			125,501		152,350
Current assets
Debtors	6	77,732		81,676
Cash at bank and on hand		214,781		172,797
		292,513		254,473
Creditors amounts falling due within one year	7	(188,337)		(169,113)
Net current assets (liabilities)			104,176		85,360
Total assets less current liabilities			229,677		237,710
Creditors amounts falling due after one year	8		(60,083)		(54,227)
Provisions for liabilities	9		(4,893)		(5,637)
Net assets			164,701		177,846
Capital and reserves
Revaluation reserve			54,600		75,000
Profit and loss account			110,101		102,846
Shareholders' funds	10		164,701		177,846