Registered Number 05183092
GLOW BEAUTY LIMITED
Abbreviated Accounts
30 November 2014
Notes | 2014 | 2013 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Intangible assets | 2 |
|
|
Tangible assets | 3 |
|
|
|
|
||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
( |
( |
|
Total assets less current liabilities |
( |
|
|
Total net assets (liabilities) |
( |
|
|
Capital and reserves | |||
Called up share capital | 4 |
|
|
Profit and loss account |
( |
|
|
Shareholders' funds |
( |
|
Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Fixtures & Fittings - 15% of net book value
Intangible assets amortisation policy
Goodwill - 5% on straight line basis
Valuation information and policy
All fixed assets are initially recorded at cost.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Other accounting policies
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
£ | |
---|---|
Cost | |
At 1 December 2013 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 November 2014 |
|
Amortisation | |
At 1 December 2013 |
|
Charge for the year |
|
On disposals |
|
At 30 November 2014 |
|
Net book values | |
At 30 November 2014 | 30,000 |
At 30 November 2013 | 33,000 |
£ | |
---|---|
Cost | |
At 1 December 2013 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 30 November 2014 |
|
Depreciation | |
At 1 December 2013 |
|
Charge for the year |
|
On disposals |
|
At 30 November 2014 |
|
Net book values | |
At 30 November 2014 | 45,488 |
At 30 November 2013 | 39,424 |