The York Salon Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07261471 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

FOR

THE YORK SALON LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A J Cameron

REGISTERED OFFICE:

24 St Cuthberts Way

Darlington

DL1 1GB

REGISTERED NUMBER:

07261471 (England and Wales)

ACCOUNTANTS:

CP Waites

Chartered Accountants

24 St Cuthberts Way

Darlington

DL1 1GB

FIXED ASSETS

Intangible assets

4

102,740

152,740

Tangible assets

5

6,136

7,874

108,876

160,614

CURRENT ASSETS

Stocks

3,686

4,701

Debtors

6,669

2,768

Cash in hand

369

80

10,724

7,549

CREDITORS

Amounts falling due within one year

120,999

145,214

NET CURRENT LIABILITIES

(110,275

)

(137,665

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,399

)

22,949

PROVISIONS FOR LIABILITIES

7

200

350

NET (LIABILITIES)/ASSETS

(1,599

)

22,599

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(1,600

)

22,598

SHAREHOLDERS' FUNDS

(1,599

)

22,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 February 2019 and were signed by:

A J Cameron - Director

1.	STATUTORY INFORMATION

The York Salon Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business is being amortised evenly

over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements

-

10% on cost

Fixtures, fittings and equipment

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for slow moving

items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company contributes to an auto enrolment pension scheme. Contributions payable to the scheme are charged

to the profit and loss account in the period to which they relate.

Grants

Grants in respect of revenue expenditure are credited to the profit and loss account in the period the related

expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

500,000

AMORTISATION

At 1 June 2017

347,260

Amortisation for year

50,000

At 31 May 2018

397,260

NET BOOK VALUE

At 31 May 2018

102,740

At 31 May 2017

152,740

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

41,579

Additions

167

Disposals

(183

)

At 31 May 2018

41,563

DEPRECIATION

At 1 June 2017

33,705

Charge for year

1,760

Eliminated on disposal

(38

)

At 31 May 2018

35,427

NET BOOK VALUE

At 31 May 2018

6,136

At 31 May 2017

7,874

6.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdraft

6,204

6,625

7.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

200

350

Deferred

tax

£

Balance at 1 June 2017

350

Movement

(150

)

Balance at 31 May 2018

200

The deferred tax provision relates to accelerated capital allowances.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained

earnings

£

At 1 June 2017

22,598

Deficit for the year

(18,198

)

Dividends

(6,000

)

At 31 May 2018

(1,600

)

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2018 and

31 May 2017:

2018

2017

£

£

A J Cameron

Balance outstanding at start of year

(49,474

)

(120,421

)

Amounts advanced

64,336

82,470

Amounts repaid

(10,947

)

(11,523

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,915

(49,474

)

11.	ULTIMATE PARENT COMPANY