House of Clive (Hair And Beauty) Limited
House of Clive (Hair And Beauty) Limited
Registered number: 01064068
Unaudited Financial Statements
For the Period
27 September 2020
to
25 September 2021
House of Clive (Hair And Beauty) Limited
Unaudited Financial Statements
For the Period
27 September 2020
to
25 September 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
House of Clive (Hair And Beauty) Limited
Balance Sheet
As at
25 September 2021
Balance Sheet
Registered number:
01064068
For the period ending 25 September 2021 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 directors acknowledge their 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.
| 25 September 2021 | 26 September 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Stocks | 4 |
|
|
||
| Debtors | 5 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 6 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 7 |
( |
( |
||
| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 8 |
( |
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
|
|
||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 2,321,838 | 2,221,196 | |||
House of Clive (Hair And Beauty) Limited
Balance Sheet (continued)
As at
25 September 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 6 form part of these financial statements.
House of Clive (Hair And Beauty) Limited
Notes to the Financial Statements
For the Period
27 September 2020
to
25 September 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was 171 (2020: 206)
House of Clive (Hair And Beauty) Limited
Notes to the Financial Statements (continued)
For the Period
27 September 2020
to
25 September 2021
3.
Tangible Assets
| Land & Property | ||||
|---|---|---|---|---|
| Leasehold | Plant & Machinery | Motor Vehicles | Total | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at
|
|
|
|
|
| Additions |
|
|
|
|
| As at
|
|
|
|
|
| Depreciation | ||||
| As at
|
|
|
|
|
| Provided during the period |
|
|
|
|
| As at
|
|
|
|
|
| Net Book Value | ||||
| As at
|
|
|
|
|
| As at
|
|
|
|
|
4.
Stocks
| 25 September 2021 | 26 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Stock - finished goods |
|
|
|
|
|
|
||
5.
Debtors
| 25 September 2021 | 26 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
| Other debtors |
|
|
|
|
|
|
||
House of Clive (Hair And Beauty) Limited
Notes to the Financial Statements (continued)
For the Period
27 September 2020
to
25 September 2021
6.
Creditors: Amounts Falling Due Within One Year
| 25 September 2021 | 26 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Corporation tax |
|
|
|
| Other taxes and social security |
|
|
|
| VAT |
|
|
|
| Other creditors |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
Secured loans
The bank loans are secured by an unlimited debenture dated 19 June 2015 incorporating a fixed and floating charge over the assets of the Company.
7.
Creditors: Amounts Falling Due After More Than One Year
| 25 September 2021 | 26 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| Accruals and deferred income |
|
|
|
|
|
|
||
Secured loans
The bank loans are secured by an unlimited debenture dated 19 June 2015 incorporating a fixed and floating charge over the assets of the Company.
Of the bank loans included in creditors falling due after one year, £53,612 (2020: £52,000) falls due between 1 and 2 years and £97,075 (2020: £152,543) falls due after 2 years and within 5 years.
8.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| 25 September 2021 | 26 September 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Deferred tax |
|
|
|
|
|
|
||
House of Clive (Hair And Beauty) Limited
Notes to the Financial Statements (continued)
For the Period
27 September 2020
to
25 September 2021
10.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Land and buildings | ||
|---|---|---|
| 25 September 2021 | 26 September 2020 | |
| £ | £ | |
| Within 1 year | 769,700 | 844,640 |
| Between 1 and 5 years | 3,111,383 | 3,650,473 |
| After 5 years | 1,021,526 | 1,493,987 |
| 4,902,609 | 5,989,100 | |
11.
Pension Commitments
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £39,009 (2020 - £45,122).
Contributions totaling £7,358 (2020 - £7,866) were payable to the fund at the reporting date and are included in creditors.
12.
Related Party Transactions
The company was under the control of CW Barrett throughout the current and previous years.
During the year the Company paid rent of £347,200 (2020: £394,084) to CWB Properties and £165,700 (2020: £191,591) to House of Clive Executive Pension Fund. CW Barrett is the proprietor of CWB Properties and is a trustee and beneficiary of House of Clive Executive Pension Fund. At the year end, £105,795 was due to CWB Properties (2020: £98,602) and £49,710 was due to House of Clive Executive Pension Fund (2020: £49,702).
During the year the Company paid rent and insurance of £21,000 (2020: £21,000) to CCB Properties and £32,000 (2020: £32,000) to MB Properties. CC Rendle, a company director, is the proprietor of CCB Properties and M Barrett, son of director CW Barrett, is the proprietor of MB Properties.
13.
General Information
House of Clive (Hair And Beauty) Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
01064068
. The registered office is Reflections House, 26 Oakfield Road, Clifton, Bristol, Somerset, BS8 2AT.