M&B Hair and Beauty Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06550914 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2019

for

M&B Hair and Beauty Supplies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M D Waldren

G S Waldren

SECRETARY:

M D Waldren

REGISTERED OFFICE:

Unit 1, 115 Loverock Road

Reading

Berkshire

RG30 1DZ

REGISTERED NUMBER:

06550914 (England and Wales)

ACCOUNTANTS:

Turner & Co

Chartered Accountants

10a White Hart Parade

London Road

Blackwater

Camberley

Surrey

GU17 9AD

FIXED ASSETS

Tangible assets

4

3,579

6,344

CURRENT ASSETS

Stocks

122,451

107,261

Debtors

5

35,087

31,422

Cash at bank and in hand

232

250

157,770

138,933

CREDITORS

Amounts falling due within one year

6

87,842

82,556

NET CURRENT ASSETS

69,928

56,377

TOTAL ASSETS LESS CURRENT LIABILITIES

73,507

62,721

CREDITORS

Amounts falling due after more than one year

7

(14,217

)

(18,933

)

PROVISIONS FOR LIABILITIES

(610

)

-

NET ASSETS

58,680

43,788

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

57,680

42,788

SHAREHOLDERS' FUNDS

58,680

43,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 21 January 2020 and were signed on its behalf by:

M D Waldren - Director

1.	STATUTORY INFORMATION

M&B Hair and Beauty Supplies 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance

sheet. Those held under hire purchase contracts are depreciated over their estimated useful

lives. Those held under finance leases are depreciated over their estimated useful lives or the

lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

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 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2018

13,869

39,038

52,907

Additions

-

371

371

At 30 April 2019

13,869

39,409

53,278

DEPRECIATION

At 1 May 2018

13,530

33,033

46,563

Charge for year

339

2,797

3,136

At 30 April 2019

13,869

35,830

49,699

NET BOOK VALUE

At 30 April 2019

-

3,579

3,579

At 30 April 2018

339

6,005

6,344

Fixed assets, included in the above, which are held under hire purchase contracts or finance

leases are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2018

and 30 April 2019

29,888

DEPRECIATION

At 1 May 2018

24,881

Charge for year

2,504

At 30 April 2019

27,385

NET BOOK VALUE

At 30 April 2019

2,503

At 30 April 2018

5,007

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

33,770

30,848

Other debtors

1,317

574

35,087

31,422

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans and overdrafts

13,763

15,846

Trade creditors

37,057

41,443

Taxation and social security

31,943

21,117

Other creditors

5,079

4,150

87,842

82,556

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Bank loans

14,217

18,933

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

4,548

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.19

30.4.18

£

£

Bank overdrafts

9,655

12,250

Bank loans

18,325

22,529

27,980

34,779

The bank loan and overdraft are secured by a fixed charge over the assets of the business

owned now and in the future.

9.	ULTIMATE CONTROLLING PARTY