Company Registration No. 07379135 (England and Wales)
MIKEY'S BARBER SHOP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
MIKEY'S BARBER SHOP LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
MIKEY'S BARBER SHOP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,609
1,265
Current assets
Debtors
14,719
9,431
Cash at bank and in hand
1,235
1,216
15,954
10,647
Creditors: amounts falling due within one year
(17,020)
(11,376)
Net current liabilities
(1,066)
(729)
Total assets less current liabilities
543
536
Provisions for liabilities
(322)
(253)
221
283
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
121
183
Shareholders' funds
221
283
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 June 2016
Mr M D Harford
Director
Company Registration No. 07379135
MIKEY'S BARBER SHOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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 less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% Straight line basis
Computer equipment
33% Straight line basis
Motor vehicles
33% Straight line basis
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2014
3,599
Additions
1,292
At 30 September 2015
4,891
Depreciation
At 1 October 2014
2,334
Charge for the year
948
At 30 September 2015
3,282
Net book value
At 30 September 2015
1,609
At 30 September 2014
1,265
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
MIKEY'S BARBER SHOP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 3 -
4
Related party relationships and transactions
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr M D Harford -
3.13
5,899
42,913
252
38,639
10,425
5,899
42,913
252
38,639
10,425