For the year ended 31 March 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07856569
Mad About Beauty Limited
For the year ended 31 March 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Accountants' Report
For the year ended 31 March 2015
Mad About Beauty Limited
In order to assist you to fulfil your duties under Companies Act
2006
,
we have prepared for your approval the
|
accounts of Mad About Beauty Limited for the year ended
31
March
2015
which comprise the Profit and Loss
|
Account
,
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 firm of the Association of Chartered Certified Accountants
,
we are subject to its ethical and other
|
professional requirements which are detailed at http
://
rulebook
.
accaglobal
.
com
.
|
This report is made solely to the Board of Directors of Mad About Beauty Limited
,
as a body
,
in accordance with the
|
terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the accounts of
|
Mad About Beauty Limited and state those matters that we have agreed to state to the Board of Directors of Mad
|
About Beauty Limited
,
as a body
,
in this report in accordance with the requirements of the Association of Chartered
|
Certified Accountants and as detailed at http
://
www
.
accaglobal
.
com
/
factsheet
163
.
To the fullest extent permitted by
|
law
,
we do not accept or assume responsibility to anyone other than Mad About Beauty Limited and its Board of
|
Directors as a body for our work or for this report
.
|
It is your duty to ensure that Mad About Beauty Limited has kept adequate accounting records and to prepare
|
statutory accounts that give a true and fair view of the assets
,
liabilities
,
financial position and profit of Mad About
|
Beauty Limited
.
You consider that Mad About Beauty Limited is exempt from the statutory audit requirement for the
|
year
.
|
FS Accountants Limited
44 York Street
Clitheroe
BB7 2DL
1 of 4
Notes to the Abbreviated Financial Statements
|
For the year ended 31 March 2015
Mad About Beauty Limited
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
|
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Acquired goodwill is stated at cost less amortisation
.
Amortisation is calculated on a straight line basis over the
|
estimated expected useful economic life of the goodwill of
10
years
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. 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:
|
Fixtures and Fittings
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
For the year ended 31 March 2015
Mad About Beauty Limited
2
Intangible fixed assets
|
10,000
10,000
2,000
1,000
Charge for year
3,000
7,000
8,000
16,615
8,464
(3,500)
21,579
9,852
(2,532)
2,136
Charge for year
9,456
12,123
6,763
2015
4
Creditors
:
amounts falling due within one year
|
2014
3,088
1,070
Bank loans and overdrafts (secured)
2014
2015
5
Creditors due after more than one year
|
3,500
1,198
Bank loans and overdrafts (secured)
4 of 4