ABC HAIR COMPANY LIMITED

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		5,104		5,881

			5,104		5,881
CURRENT ASSETS
Stocks		1,700		1,684
Debtors		3,873		3,390
Cash at bank and in hand		3,817		(253 )

		9,390		4,821
Creditors: Amounts Falling Due Within One Year		(15,356 )		(13,035 )

NET CURRENT ASSETS (LIABILITIES)			(5,966 )		(8,214 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(862 )		(2,333 )

NET ASSETS			(862 )		(2,333 )

CAPITAL AND RESERVES
Called up share capital	3		100		100
Profit and Loss Account			(962 )		(2,433 )

SHAREHOLDERS' FUNDS			(862 )		(2,333 )

Company No. 7408578

Abbreviated Balance Sheet (continued) 31 October 2016

For the year ending 31 October 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Mark Brown

02/08/2017

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 Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% reducing balance

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.

2. Tangible Assets


	Total
Cost	£
As at 1 November 2015	14,170
Additions	489

As at 31 October 2016	14,659

Depreciation
As at 1 November 2015	8,289
Provided during the period	1,266

As at 31 October 2016	9,555

Net Book Value
As at 31 October 2016	5,104

As at 1 November 2015	5,881

3. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	100	100	100

4. Transactions With and Loans to Directors

Included within Debtors are the following loans to directors:

The above loan is unsecured, interest free and repayable on demand.

5. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.