Campions Hairdressing (Mansfield) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04019538 (England and Wales)

CAMPIONS HAIRDRESSING (MANSFIELD) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P A Sanderson

L Sanderson

REGISTERED OFFICE:

11 Church Street

Mansfield

Nottinghamshire

NG18 1AF

REGISTERED NUMBER:

04019538 (England and Wales)

ACCOUNTANTS:

Killicks Limited

35/37 Kingsway

Kirkby in Ashfield

Nottinghamshire

NG17 7DR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,160

1,819

1,160

1,819

CURRENT ASSETS

Stocks

400

500

Debtors

6

-

2,445

Cash at bank and in hand

1,020

1,424

1,420

4,369

CREDITORS

Amounts falling due within one year

7

11,670

21,844

NET CURRENT LIABILITIES

(10,250

)

(17,475

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(9,090

)

(15,656

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(9,092

)

(15,658

)

SHAREHOLDERS' FUNDS

(9,090

)

(15,656

)

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

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

The directors acknowledge their 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 Board of Directors on 20 November 2019 and were signed on its behalf by:

P A Sanderson - Director

1.	STATUTORY INFORMATION

Campions Hairdressing (Mansfield) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts are prepared using the going concern basis despite the company showing net current liabilities as

well as net liabilities, on the grounds that the amounts owed to the director makes up the majority of the shortfall

and that the director is continuing his financial support of the company.

Turnover

Turnover represents takings exclusive of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, was being amortised

evenly over its estimated useful life of twenty years until 31 August 2012 when its remaining useful life was

re-estimated at four years from that date.

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.

Plant and machinery etc

-

15% 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

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 6 (2018 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2018

and 31 August 2019

50,398

AMORTISATION

At 1 September 2018

and 31 August 2019

50,398

NET BOOK VALUE

At 31 August 2019

-

At 31 August 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2018

and 31 August 2019

21,407

DEPRECIATION

At 1 September 2018

19,588

Charge for year

659

At 31 August 2019

20,247

NET BOOK VALUE

At 31 August 2019

1,160

At 31 August 2018

1,819

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

-

2,445

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

1,869

-

Taxation and social security

6,484

5,544

Other creditors

3,317

16,300

11,670

21,844

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr P.A. Sanderson has given personal guarantees against the company's bank borrowings.

Mr P.A. Sanderson has lent money to the company during the period. The loan is interest-free and bears no

specific terms of repayment. At 31st August 2019, Mr.P.A.Sanderson was owed £2,817 (2018: £15,800).