Turning Heads Hairdressers Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04708213 (England and Wales)

TURNING HEADS HAIRDRESSERS LTD

T/A

JAM HAIRDRESSING

Financial Statements for the Year Ended 31 March 2019

Page

Balance Sheet

1

Notes to the Financial Statements

2

to

3

FIXED ASSETS

Tangible assets

4

9,021

10,024

CURRENT ASSETS

Stocks

2,000

1,500

Debtors

5

5,972

5,860

Cash at bank and in hand

1,884

2,132

9,856

9,492

CREDITORS

Amounts falling due within one year

6

22,698

19,854

NET CURRENT LIABILITIES

(12,842

)

(10,362

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,821

)

(338

)

PROVISIONS FOR LIABILITIES

1,679

1,862

NET LIABILITIES

(5,500

)

(2,200

)

CAPITAL AND RESERVES

Called up share capital

7

3

3

Retained earnings

(5,503

)

(2,203

)

SHAREHOLDERS' FUNDS

(5,500

)

(2,200

)

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 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 5 December 2019 and were signed on its behalf by:

Mrs J Polton - Director

1.	STATUTORY INFORMATION

Turning Heads Hairdressers Ltd. is a private company limited by shares. The company is registered in England and Wales under

number 04708213.

The registered office is, 48 Bathurst Walk, Iver, Buckinghamshire, SL0 9BH.

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 represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Leasehold improvements

-

20% on cost

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

25% 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 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.

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 company has, again, traded profitably during the financial year. However, due to the fact that dividends were voted In excess

of retained profits (see note 5) the Balance Sheet shows an insolvent position at the Balance Sheet date. The Directors believe that

it is, nevertheless, correct to prepare these Accounts on a going concern basis as they have confirmed that they will support the

company if needed by repaying any excess dividends should the company be unable to meet its liabilities as they fall due. In the

current financial year the company is, again, trading profitably.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

Computer

improvements

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

and 31 March 2019

2,443

8,160

31,365

98

42,066

DEPRECIATION

At 1 April 2018

2,442

8,159

21,343

98

32,042

Charge for year

-

-

1,003

-

1,003

At 31 March 2019

2,442

8,159

22,346

98

33,045

NET BOOK VALUE

At 31 March 2019

1

1

9,019

-

9,021

At 31 March 2018

1

1

10,022

-

10,024

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

3,915

3,803

Amounts falling due after more than one year:

Other debtors

2,057

2,057

Aggregate amounts

5,972

5,860

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

1,133

944

Taxation and social security

16,113

13,473

Other creditors

5,452

5,437

22,698

19,854

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

3

Ordinary

£1

3

3

8.	OTHER FINANCIAL COMMITMENTS

At 31 March 2019 the company had a financial commitment of £54,992 ( 2018 - £68,750) in respect of future rent due over the

next four years.