COIFFURE LTD |
Registered number: |
02285156 |
Balance Sheet |
as at 31 December 2017 |
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
53,989 |
|
|
59,718 |
|
Current assets |
Stocks |
|
|
28,752 |
|
|
12,500 |
Debtors |
4 |
|
7,936 |
|
|
10,049 |
Cash at bank and in hand |
|
|
73,302 |
|
|
33,324 |
|
|
|
109,990 |
|
|
55,873 |
|
Creditors: amounts falling due within one year |
5 |
|
(107,446) |
|
|
(96,971) |
|
Net current assets/(liabilities) |
|
|
|
2,544 |
|
|
(41,098) |
|
Total assets less current liabilities |
|
|
|
56,533 |
|
|
18,620 |
|
|
Provisions for liabilities |
|
|
|
(10,258) |
|
|
(6,400) |
|
|
Net assets |
|
|
|
46,275 |
|
|
12,220 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
46,273 |
|
|
12,218 |
|
Shareholders' funds |
|
|
|
46,275 |
|
|
12,220 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
I D Hinett |
Director |
Approved by the board on 20 April 2018 |
|
COIFFURE LTD |
Notes to the Accounts |
for the period from 12 December 2016 to 31 December 2017 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
|
|
Improvements to property |
15% straight line basis |
|
Plant and machinery |
15% reducing balance |
|
Fixtures and fittings |
20% reducing balance |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. 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. |
|
|
Leased assets |
|
Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average monthly number of employees, including directors, during the year |
25 |
|
14 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Improvements to Property |
|
Plant and machinery etc |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 12 December 2016 |
34,526 |
|
124,488 |
|
159,014 |
|
Additions |
- |
|
5,906 |
|
5,906 |
|
At 31 December 2017 |
34,526 |
|
130,394 |
|
164,920 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 12 December 2016 |
6,808 |
|
92,488 |
|
99,296 |
|
Charge for the period |
5,179 |
|
6,456 |
|
11,635 |
|
At 31 December 2017 |
11,987 |
|
98,944 |
|
110,931 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2017 |
22,539 |
|
31,450 |
|
53,989 |
|
At 11 December 2016 |
27,718 |
|
32,000 |
|
59,718 |
|
|
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Other debtors |
7,936 |
|
10,049 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Trade creditors |
15,296 |
|
13,856 |
|
Other taxes and social security costs |
51,827 |
|
35,913 |
|
Other creditors |
40,323 |
|
47,202 |
|
|
|
|
|
|
107,446 |
|
96,971 |
|
|
|
|
|
|
|
|
|
|
6 |
Other financial commitments |
2017 |
|
2016 |
£ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
134,975 |
|
50,700 |
|
|
|
|
|
|
|
|
|
|
7 |
Related party transactions |
|
|
Transactions with the directors during the year are as follows: Dividends totalling £25,000 (2016: £26,500) were paid in the year in respect of shares held by the company's directors. |
|
|
8 |
Other information |
|
|
COIFFURE LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
17 Cheap Street |
|
Frome |
|
Somerset |
|
BA11 1BN |