No. 10 Hairdesign Ltd
|
Balance Sheet |
as at 31 March 2016
|
|
|
Notes |
|
|
2016 |
|
|
2015 |
£ |
£ |
Fixed assets |
Tangible assets |
5 |
|
|
409 |
|
|
512 |
|
Current assets |
Stocks |
|
|
1,000 |
|
|
1,000 |
Cash at bank and in hand |
|
|
20,665 |
|
|
13,778 |
|
|
|
21,665 |
|
|
14,778 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
|
(10,835) |
|
|
(10,434) |
|
|
|
(10,835) |
|
|
(10,434) |
|
|
|
|
|
|
|
Net current assets |
|
|
|
10,830 |
|
|
4,344 |
|
|
|
|
|
|
|
|
Total assets less current liabilities |
|
|
|
11,239 |
|
|
4,856 |
|
|
Provisions for liabilities |
7 |
|
|
(82) |
|
|
(102) |
|
|
Net assets |
|
|
|
11,157 |
|
|
4,754 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
8 |
|
|
1,000 |
|
|
1,000 |
Profit and loss account |
9 |
|
|
10,157 |
|
|
3,754 |
|
Shareholders' funds |
|
|
|
11,157 |
|
|
4,754 |
|
|
|
|
|
|
|
|
|
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.
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The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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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.
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Approved by the board on 12 October 2016
|
|
|
|
|
S J Clark |
Director |
|
No. 10 Hairdesign Ltd
|
Notes to the Accounts |
for the year ended 31 March 2016
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
|
|
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods and 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. |
|
|
Plant and machinery |
20% reducing balance method
|
|
|
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. |
|
|
2 |
Operating profit |
2016 |
|
2015 |
£ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
103 |
|
128 |
|
Directors' remuneration |
7,800 |
|
7,800 |
|
|
|
|
|
|
|
|
|
|
3 |
Taxation |
2016 |
|
2015 |
£ |
£ |
|
|
UK corporation tax |
5,222 |
|
5,772 |
|
Deferred tax |
(20) |
|
(27) |
|
|
|
|
|
|
5,202 |
|
5,745 |
|
|
|
|
|
|
|
|
|
|
4 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2015 |
35,000 |
|
At 31 March 2016 |
35,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2015 |
35,000 |
|
At 31 March 2016 |
35,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
- |
|
|
|
|
|
|
|
|
|
|
5 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 April 2015 |
2,515 |
|
At 31 March 2016 |
2,515 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2015 |
2,003 |
|
Charge for the year |
103 |
|
At 31 March 2016 |
2,106 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2016 |
409 |
|
At 31 March 2015 |
512 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
£ |
£ |
|
|
Corporation tax |
5,222 |
|
5,772 |
|
Other taxes and social security costs |
3,154 |
|
3,193 |
|
Other creditors |
2,459 |
|
1,469 |
|
|
|
|
|
|
10,835 |
|
10,434 |
|
|
|
|
|
|
|
|
|
|
7 |
Provisions for liabilities |
|
Deferred taxation: |
2016 |
|
2015 |
£ |
£ |
|
|
Accelerated capital allowances |
82 |
|
102 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
|
2015 |
£ |
£ |
|
|
At 1 April |
102 |
|
129 |
|
Deferred tax charge in profit and loss account |
(20) |
|
(27) |
|
At 31 March |
82 |
|
102 |
|
|
|
|
|
|
|
|
|
|
8 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
1,000 |
|
1,000 |
|
1,000 |
|
|
|
|
|
|
|
|
|
|
9 |
Profit and loss account |
2016 |
£ |
|
|
At 1 April 2015 |
3,754 |
|
Profit for the year |
20,803 |
|
Dividends |
(14,400) |
|
At 31 March 2016 |
10,157 |
|
|
|
|
|
|
|
|
10 |
Dividends |
2016 |
|
2015 |
£ |
£ |
|
|
Dividends for which the company became liable during the year: |
|
Dividends paid |
14,400 |
|
17,650 |
|
|
|
|
|
|
|
|
|
|
|
11 |
Post balance sheet events |
|
|
There were no significant events since the balance sheet date that in the opinion of the director would effect the accounts.
|
|
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12 |
Related party transactions |
2016 |
|
2015 |
£ |
£ |
|
S J Clark
|
|
director/shareholder
|
|
rent of business premises |
|
(4,200) |
|
(5,850) |
|
dividends paid |
|
|
|
|
(12,240) |
|
(15,003) |
|
Amount due from (to) the related party
|
(16,440) |
|
(20,853) |
|
Mrs R J Clark
|
|
shareholder
|
|
rent of business premises |
|
(4,200) |
|
(5,850) |
|
dividends paid |
|
|
|
|
(2,160) |
|
(2,647) |
|
Amount due from (to) the related party
|
(6,360) |
|
(8,497) |
|
|
|
|
|
|
|
|
|
|
13 |
Ultimate controlling party |
|
|
Throughout the year the company was under the control of Mr S J Clark the sole director and major shareholder.
|