Image Hairdressing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08170072 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2019

FOR

IMAGE HAIRDRESSING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTOR:

Ms E Royall

REGISTERED OFFICE:

Market House

21 Lenten Street

Alton

Hampshire

GU34 1HG

REGISTERED NUMBER:

08170072 (England and Wales)

ACCOUNTANTS:

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

-

65

-

65

CURRENT ASSETS

Stocks

3,341

4,204

Debtors

6

587

481

Cash at bank and in hand

2,770

4,642

6,698

9,327

CREDITORS

Amounts falling due within one year

7

147,443

126,667

NET CURRENT LIABILITIES

(140,745

)

(117,340

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(140,745

)

(117,275

)

CAPITAL AND RESERVES

Called up share capital

8

10

10

Retained earnings

9

(140,755

)

(117,285

)

SHAREHOLDERS' FUNDS

(140,745

)

(117,275

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 20 May 2019 and were signed by:

Ms E Royall - Director

1.	STATUTORY INFORMATION

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of three years.

Other intangible fixed assets including intellectual property rights and contracts are amortised on the same basis

as goodwill, over its estimated useful life of three years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Other intangibles are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Short leasehold

-

Over the term of the lease

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Stocks

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been drawn up on a going concern basis which assumes adequate finance will

continue to be made available and accordingly do not take account of adjustments, if any, which may be

necessary if the company is unable to continue as a concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Other

Goodwill

intangibles

Totals

£

£

£

COST

At 1 February 2018

and 31 January 2019

5,000

5,000

10,000

AMORTISATION

At 1 February 2018

and 31 January 2019

5,000

5,000

10,000

NET BOOK VALUE

At 31 January 2019

-

-

-

At 31 January 2018

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 February 2018

and 31 January 2019

5,000

600

5,316

491

11,407

DEPRECIATION

At 1 February 2018

5,000

600

5,252

490

11,342

Charge for year

-

-

64

1

65

At 31 January 2019

5,000

600

5,316

491

11,407

NET BOOK VALUE

At 31 January 2019

-

-

-

-

-

At 31 January 2018

-

-

64

1

65

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

327

243

Prepayments

260

238

587

481

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Social security and other taxes

436

462

VAT

2,313

7,680

Other creditors

2,130

3,995

Directors' loan account

139,271

112,063

Accruals and deferred income

3,293

2,467

147,443

126,667

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

10

Ordinary

1

10

10

9.

RESERVES

Retained

earnings

£

At 1 February 2018

(117,285

)

Deficit for the year

(23,470

)

At 31 January 2019

(140,755

)

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Image Hairdressing Limited for the year ended 31 January 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Image Hairdressing Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Image Hairdressing Limited and state those matters that we have agreed to state to the director of Image Hairdressing Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Image Hairdressing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Image Hairdressing Limited. You consider that Image Hairdressing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Image Hairdressing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

20 May 2019