Registered number
05694478
Abstract Hair Company G Wirral Ltd
Abbreviated Accounts
31 July 2012
Abstract Hair Company G Wirral Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Abstract Hair Company G Wirral Ltd for the year ended 31 July 2012
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Abstract Hair Company G Wirral Ltd for the year ended 31 July 2012 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation.
Adams & Co Accountants Limited
Chartered Accountants
2 Millers Bridge
Bootle
Liverpool
L20 8LH
16 April 2013
Abstract Hair Company G Wirral Ltd
Registered number: 05694478
Abbreviated Balance Sheet
as at 31 July 2012
Notes 2012 2011
£ £
Fixed assets
Intangible assets 2 - 3,250
Tangible assets 3 7,669 9,023
7,669 12,273
Current assets
Stocks 5,000 3,500
Debtors - 12,226
Cash at bank and in hand 280 2,474
5,280 18,200
Creditors: amounts falling due within one year (33,413) (46,632)
Net current liabilities (28,133) (28,432)
Net liabilities (20,464) (16,159)
Capital and reserves
Called up share capital 4 100 100
Profit and loss account (20,564) (16,259)
Shareholders' funds (20,464) (16,159)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
K A Martin
Director
Approved by the board on 16 April 2013
Abstract Hair Company G Wirral Ltd
Notes to the Abbreviated Accounts
for the year ended 31 July 2012
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Premises Refurbishment/Fixtures & Fittings 20% reducing balance
Office & Salon Equipment 15% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Intangible fixed assets £
Cost
At 1 August 2011 16,250
At 31 July 2012 16,250
Amortisation
At 1 August 2011 13,000
Provided during the year 3,250
At 31 July 2012 16,250
Net book value
At 31 July 2012 -
At 31 July 2011 3,250
3 Tangible fixed assets £
Cost
At 1 August 2011 25,476
At 31 July 2012 25,476
Depreciation
At 1 August 2011 16,453
Charge for the year 1,354
At 31 July 2012 17,807
Net book value
At 31 July 2012 7,669
At 31 July 2011 9,023
4 Share capital Nominal 2012 2012 2011
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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