Company Registration No. 05703536 (England and Wales)
STRANDED HAIR GROUP LIMITED
Unaudited accounts
for the year ended 28 February 2019
STRANDED HAIR GROUP LIMITED
Unaudited accounts
Contents
STRANDED HAIR GROUP LIMITED
Company Information
for the year ended 28 February 2019
Company Number
05703536 (England and Wales)
Registered Office
41A BENT STREET
MANCHESTER
M8 8NW
Accountants
Annette & Co.
Apt 24199 Chynoweth House
Trevissome Park
Truro
TR4 8UN
STRANDED HAIR GROUP LIMITED
Statement of financial position
as at 28 February 2019
Intangible assets
8,505
45,956
Tangible assets
65,790
72,897
Inventories
622,138
721,003
Cash at bank and in hand
121,962
33,039
Creditors: amounts falling due within one year
(38,959)
(292,936)
Net current assets
875,667
653,380
Net assets
949,962
772,233
Called up share capital
2
2
Profit and loss account
949,960
772,231
Shareholders' funds
949,962
772,233
For the year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 4 November 2019.
Gary Howe
Director
Company Registration No. 05703536
STRANDED HAIR GROUP LIMITED
Notes to the Accounts
for the year ended 28 February 2019
STRANDED HAIR GROUP LIMITED is a private company, limited by shares, registered in England and Wales, registration number 05703536. The registered office is 41A BENT STREET, MANCHESTER, M8 8NW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% as per Straight Line Method
Fixtures & fittings
25% as per Reducing Balance Method
Computer equipment
20% as per Straight Line Method
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
STRANDED HAIR GROUP LIMITED
Notes to the Accounts
for the year ended 28 February 2019
4
Intangible fixed assets
Goodwill
Other
Total
At 1 March 2018
211,932
21,264
233,196
At 28 February 2019
211,932
21,264
233,196
At 1 March 2018
176,609
10,631
187,240
Charge for the year
35,323
2,128
37,451
At 28 February 2019
211,932
12,759
224,691
At 28 February 2019
-
8,505
8,505
At 28 February 2018
35,323
10,633
45,956
5
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2018
22,176
134,072
-
156,248
Additions
-
36,300
833
37,133
At 28 February 2019
22,176
170,372
833
193,381
At 1 March 2018
16,038
67,313
-
83,351
Charge for the year
4,436
39,787
17
44,240
At 28 February 2019
20,474
107,100
17
127,591
At 28 February 2019
1,702
63,272
816
65,790
At 28 February 2018
6,138
66,759
-
72,897
Finished goods
622,138
721,003
Trade debtors
164,067
154,797
Accrued income and prepayments
5,459
36,477
STRANDED HAIR GROUP LIMITED
Notes to the Accounts
for the year ended 28 February 2019
8
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
(8,087)
1,706
Trade creditors
(11,640)
138,299
Taxes and social security
26,276
3,132
Other creditors
9,500
25,079
Loans from directors
22,410
41,714
Allotted, called up and fully paid:
1 Gary Howe of £1 each
1
1
1 Emma Howe of £1 each
1
1
10
Average number of employees
During the year the average number of employees was 4 (2018: 7).
