REGISTERED NUMBER: |
Unaudited Cessation Financial Statements |
for the Period 1 April 2023 to 30 November 2023 |
for |
Concept 3 Hair Design Limited |
REGISTERED NUMBER: |
Unaudited Cessation Financial Statements |
for the Period 1 April 2023 to 30 November 2023 |
for |
Concept 3 Hair Design Limited |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Contents of the Financial Statements |
for the Period 1 April 2023 to 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Concept 3 Hair Design Limited |
Company Information |
for the Period 1 April 2023 to 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
34 Romanby Road |
NORTHALLERTON |
North Yorkshire |
DL7 8NF |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Balance Sheet |
30 November 2023 |
2023 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Balance Sheet - continued |
30 November 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Notes to the Financial Statements |
for the Period 1 April 2023 to 30 November 2023 |
1. | STATUTORY INFORMATION |
Concept 3 Hair Design Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value of goods and services provided excluding value added tax, accounted for under the flat rate scheme. |
Revenue is recognised when services are completed. Cash sales are recognised upon receipt and credit card transactions at the time of the transaction. |
Goodwill |
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It has been amortised to the profit and loss account over its estimated economic life. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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. |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2023 |
Disposals | ( |
) |
At 30 November 2023 |
AMORTISATION |
At 1 April 2023 |
Eliminated on disposal | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 31 March 2023 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Long | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 November 2023 |
DEPRECIATION |
At 1 April 2023 |
Eliminated on disposal | ( |
) | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 31 March 2023 |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 November 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Corporation tax |
Social security and other taxes |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2023 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans falling due between two and five years |
Bank loans consist of a 'Bounce Back Loan' guaranteed by HM treasury to support the business through the economic impact of the COVID 19 pandemic. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2023 |
value: | £ | £ |
A Ordinary | £1 | 2 | 2 |
B Ordinary | £1 | 2 | 2 |
C Ordinary | £1 | 2 | 2 |
6 | 6 |
Concept 3 Hair Design Limited (Registered number: 05798237) |
Notes to the Financial Statements - continued |
for the Period 1 April 2023 to 30 November 2023 |
11. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £10,571 (2023 - £20,064) were paid to the directors . |
12. | POST BALANCE SHEET EVENTS |
The company ceased trading on 31 October 2023 and it is the intention of the directors to wind up the company once all outstanding creditors have been paid. |