Ivory Hairdressing Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10291171 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

FOR

IVORY HAIRDRESSING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms J L Hutchinson

SECRETARY:

REGISTERED OFFICE:

18 Bishops Hall Road

Brentwood

Essex

CM15 9NX

REGISTERED NUMBER:

10291171 (England and Wales)

ACCOUNTANTS:

Somar & Co Ltd

Accountants

11 Park Lane

Hornchurch

Essex

RM11 1BB

FIXED ASSETS

Tangible assets

4

35,199

29,945

CURRENT ASSETS

Debtors

5

6,033

6,033

Cash at bank and in hand

73,107

59,713

79,140

65,746

CREDITORS

Amounts falling due within one year

6

41,979

40,446

NET CURRENT ASSETS

37,161

25,300

TOTAL ASSETS LESS CURRENT LIABILITIES

72,360

55,245

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

72,359

55,244

SHAREHOLDERS' FUNDS

72,360

55,245

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 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 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 23 December 2019 and were signed by:

Ms J L Hutchinson - Director

1.	STATUTORY INFORMATION

Ivory Hairdressing 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.

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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

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 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

24,127

3,395

3,910

31,432

Additions

-

7,553

-

7,553

At 31 March 2019

24,127

10,948

3,910

38,985

DEPRECIATION

At 1 April 2018

-

509

978

1,487

Charge for year

-

1,566

733

2,299

At 31 March 2019

-

2,075

1,711

3,786

NET BOOK VALUE

At 31 March 2019

24,127

8,873

2,199

35,199

At 31 March 2018

24,127

2,886

2,932

29,945

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Other debtors

6,033

6,033

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade creditors

15,224

10,345

Taxation and social security

25,284

28,721

Other creditors

1,471

1,380

41,979

40,446