Chair Salons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11105914 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

CHAIR SALONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

C Coleman

REGISTERED OFFICE:

184 Whitchurch Road

Cardiff

CF14 3NB

REGISTERED NUMBER:

11105914 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Tangible assets

4

13,043

13,870

CURRENT ASSETS

Stocks

1,000

1,000

Cash at bank

10,247

7,317

11,247

8,317

CREDITORS

Amounts falling due within one year

5

(18,336

)

(22,082

)

NET CURRENT LIABILITIES

(7,089

)

(13,765

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,954

105

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

7

5,854

5

SHAREHOLDERS' FUNDS

5,954

105

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

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

The director acknowledges his 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 and authorised for issue on 19 September 2020 and were signed by:

C Coleman - Director

1.	STATUTORY INFORMATION

Chair Salons 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.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 January 2019

and 31 December 2019

10,561

3,782

14,343

DEPRECIATION

At 1 January 2019

-

473

473

Charge for year

-

827

827

At 31 December 2019

-

1,300

1,300

NET BOOK VALUE

At 31 December 2019

10,561

2,482

13,043

At 31 December 2018

10,561

3,309

13,870

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Tax

2,974

372

Directors' current accounts

15,062

21,410

Accrued expenses

300

300

18,336

22,082

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

1

100

100

7.

RESERVES

Retained

earnings

£

At 1 January 2019

5

Profit for the year

11,849

Dividends

(6,000

)

At 31 December 2019

5,854

8.	DIRECTORS LOAN ACCOUNT

As at 31st December 2020 Mr C Coleman was owed £15,062. This amount is interest free and

repayable upon demand.