Blu Hair and Beauty Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05202501 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 November 2021

for

Blu Hair and Beauty Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss M Oliver

SECRETARY:

Mrs B Wilkins

REGISTERED OFFICE:

3 Park Square

Leeds

West Yorkshire

LS1 2NE

REGISTERED NUMBER:

05202501 (England and Wales)

ACCOUNTANTS:

Charles Stewart & Co Limited

Chartered Accountants

3 Park Square

Leeds

LS1 2NE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

18,834

11,105

18,834

11,105

CURRENT ASSETS

Stocks

6

4,506

5,021

Debtors

7

3,598

5,618

Cash at bank and in hand

49,129

50,422

57,233

61,061

CREDITORS

Amounts falling due within one year

8

15,730

13,419

NET CURRENT ASSETS

41,503

47,642

TOTAL ASSETS LESS CURRENT LIABILITIES

60,337

58,747

CREDITORS

Amounts falling due after more than one year

9

46,895

50,000

NET ASSETS

13,442

8,747

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

11

13,440

8,745

SHAREHOLDERS' FUNDS

13,442

8,747

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2022 and were signed by:

Miss M Oliver - Director

1.	STATUTORY INFORMATION

Blu Hair and Beauty Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years unless in the opinion of the directors a shorter period is prudent.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over 12 years

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

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 year 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2020

and 30 November 2021

38,000

AMORTISATION

At 1 December 2020

and 30 November 2021

38,000

NET BOOK VALUE

At 30 November 2021

-

At 30 November 2020

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2020

88,020

73,934

853

162,807

Additions

-

10,159

3,971

14,130

At 30 November 2021

88,020

84,093

4,824

176,937

DEPRECIATION

At 1 December 2020

81,350

69,499

853

151,702

Charge for year

1,643

4,575

183

6,401

At 30 November 2021

82,993

74,074

1,036

158,103

NET BOOK VALUE

At 30 November 2021

5,027

10,019

3,788

18,834

At 30 November 2020

6,670

4,435

-

11,105

6.

STOCKS

2021

2020

£

£

Stocks

4,506

5,021

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts due from related

undertakings

-

5,500

VAT

3,598

-

Prepayments and sundry debtors

-

118

3,598

5,618

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

8,655

2,002

Corporation tax

1,059

2,061

Social security and other taxes

2,728

1,862

VAT

-

5,674

Director's current account

38

405

Accrued expenses

3,250

1,415

15,730

13,419

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Loan creditor

46,895

50,000

The loan creditor represents a loan under HM Government Coronavirus Business Bounce Back Loan Scheme.

The loan creditor carries an interest rate of 2.5% per annum and it is repayable in accordance with the rules of the scheme

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

11.

RESERVES

Retained

earnings

£

At 1 December 2020

8,745

Profit for the year

12,695

Dividends

(8,000

)

At 30 November 2021

13,440

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £8,000 were paid to the director .

At 30 November 2021 the company was owed £Nil (2020: £5,500) by Intuitions School of Hairdressing & Beauty Therapy Limited.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Miss M Oliver.