REGISTERED NUMBER: 09800601 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

ADAM GROOMING ATELIER LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Y O Pakcan

REGISTERED OFFICE:

8 Gees Court

Marylebone

London

W1U 1JQ

REGISTERED NUMBER:

09800601 (England and Wales)

ACCOUNTANTS:

AGK Partners

Chartered Accountants

1 Kings Avenue

London

N21 3NA

FIXED ASSETS

Property, plant and equipment

4

63,982

47,668

CURRENT ASSETS

Inventories

1,997

1,165

Debtors

5

252,178

47,996

Cash at bank and in hand

47,184

42,723

301,359

91,884

CREDITORS

Amounts falling due within one year

6

167,516

43,977

NET CURRENT ASSETS

133,843

47,907

TOTAL ASSETS LESS CURRENT LIABILITIES

197,825

95,575

CREDITORS

Amounts falling due after more than one year

7

(18,995

)

(27,405

)

PROVISIONS FOR LIABILITIES

(12,156

)

-

NET ASSETS

166,674

68,170

CAPITAL AND RESERVES

Called up share capital

15

15

Share premium

157,484

99,985

Retained earnings

9,175

(31,830

)

166,674

68,170

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 22 June 2018 and were signed by:

Mr Y O Pakcan - Director

1.	STATUTORY INFORMATION

Adam Grooming Atelier Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 29 September 2015.

As there is no impact of the transition on the financial statements of the company, the reconciliation of equity

and profit and loss is not considered necessary.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates

and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other

sources. The estimates and associated assumptions are based on historical experience and other factors that

are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting

estimates are recognised in the period in which the estimate is revised where the revision affects only that

period or in the period of the revision and future periods where the revision affects both current and future

periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Property, plant and equipment

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated

residual value over their expected useful lives, on the following basis:

Short leasehold 20% on cost

Fixtures and fittings 20% on cost

Computer equipment 20% on cost

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete

and slow moving items.

Cost is calculated on a first in, first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short

term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly

liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant

risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible

preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in

profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes

recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - NIL ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 October 2016

59,250

-

335

59,585

Additions

28,913

6,329

49

35,291

At 30 September 2017

88,163

6,329

384

94,876

DEPRECIATION

At 1 October 2016

11,850

-

67

11,917

Charge for year

17,634

1,266

77

18,977

At 30 September 2017

29,484

1,266

144

30,894

NET BOOK VALUE

At 30 September 2017

58,679

5,063

240

63,982

At 30 September 2016

47,400

-

268

47,668

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group undertakings

174,105

-

Other debtors

78,073

47,996

252,178

47,996

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

5,760

5,760

Hire purchase contracts

3,165

4,327

Trade creditors

77,447

16,307

Taxation and social security

12,458

-

Other creditors

68,686

17,583

167,516

43,977

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

18,995

24,240

Hire purchase contracts

-

3,165

18,995

27,405

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

24,755

30,000

Bank loans are secured over the assets of the company, by way of a fixed and floating charge and contains a

negative pledge.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Included in other creditors due within one year is an amount of £50,500 (2016: £15,500) due to the director of

the company. The loan is interest free and repayable on demand.