Company Registration No. 04802962 (England and Wales)
ABBEY HAIRSTYLING LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
ABBEY HAIRSTYLING LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBEY HAIRSTYLING LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
298
Current assets
Stocks
-
116
Cash at bank and in hand
2,485
2,879
2,485
2,995
Creditors: amounts falling due within one year
(2,484)
(3,266)
Net current assets/(liabilities)
1
(271)
Total assets less current liabilities
1
27
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
-
26
Shareholders' funds
1
27
For the financial year ended 30 June 2016 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 year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 August 2016
Mr G Moores
Director
Company Registration No. 04802962
ABBEY HAIRSTYLING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for hairdressing services provided.
1.3
Goodwill
Acquired goodwill has been written off in equal annual instalments over its estimated useful economic life of five years.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings & equipment
15% Reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 July 2015
7,000
1,872
8,872
Disposals
-
(1,872)
(1,872)
At 30 June 2016
7,000
-
7,000
Depreciation
At 1 July 2015
7,000
1,574
8,574
On disposals
-
(1,772)
(1,772)
Charge for the period
-
198
198
At 30 June 2016
7,000
-
7,000
Net book value
At 30 June 2016
-
-
-
At 30 June 2015
-
298
298
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
ABBEY HAIRSTYLING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
4
Related party relationships and transactions
Loan from director
Transactions in relation to loans with the director during the period are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr G Moores
-
188
10,301
-
10,183
306
188
10,301
-
10,183
306