Registered number
02285156
COIFFURE LTD
Report and Accounts
31 December 2017
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
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