Paul's Hair Salons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04108607 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

PAUL'S HAIR SALONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Polyviou

SECRETARY:

S Polyviou

REGISTERED OFFICE:

19 Montpelier Avenue

Bexley

Kent

DA5 3AP

REGISTERED NUMBER:

04108607 (England and Wales)

ACCOUNTANTS:

Robsons Accountants

19 Montpelier Avenue

Bexley

Kent

DA5 3AP

FIXED ASSETS

Intangible assets

4

7,402

11,174

Tangible assets

5

182,768

188,112

190,170

199,286

CURRENT ASSETS

Stocks

1,021

1,051

Debtors

6

710

710

Cash in hand

3,350

3,328

5,081

5,089

CREDITORS

Amounts falling due within one year

7

(149,054

)

(144,870

)

NET CURRENT LIABILITIES

(143,973

)

(139,781

)

TOTAL ASSETS LESS CURRENT LIABILITIES

46,197

59,505

CREDITORS

Amounts falling due after more than one year

8

(75,783

)

(89,051

)

NET LIABILITIES

(29,586

)

(29,546

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(30,586

)

(30,546

)

SHAREHOLDERS' FUNDS

(29,586

)

(29,546

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 applicable to companies subject to the small companies regime.

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 18 September 2019 and were signed by:

P Polyviou - Director

1.	STATUTORY INFORMATION

Paul's Hair Salons 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 0, is being amortised evenly over its estimated useful life of nil 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.

Tangible fixed assets

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

Land and buildings

-

The period of the lease

Plant and machinery etc

-

15% on reducing balance

Stocks

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

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

and 31 March 2019

75,452

AMORTISATION

At 1 April 2018

64,278

Charge for year

3,772

At 31 March 2019

68,050

NET BOOK VALUE

At 31 March 2019

7,402

At 31 March 2018

11,174

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

and 31 March 2019

243,228

24,483

267,711

DEPRECIATION

At 1 April 2018

58,313

21,286

79,599

Charge for year

4,864

480

5,344

At 31 March 2019

63,177

21,766

84,943

NET BOOK VALUE

At 31 March 2019

180,051

2,717

182,768

At 31 March 2018

184,915

3,197

188,112

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

710

710

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

29,437

37,123

Trade creditors

3,897

4,171

Taxation and social security

17,147

13,237

Other creditors

98,573

90,339

149,054

144,870

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

75,783

89,051