PHAIR DESIGNS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08758092 (England and Wales)

Abridged Financial Statements for the Year Ended 31 December 2019

for

PHAIR DESIGNS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Miss A L Phair

SECRETARY:

REGISTERED OFFICE:

3 Redberry Road

KIngsnorth

Ashford

Kent

TN23 3PE

REGISTERED NUMBER:

08758092 (England and Wales)

ACCOUNTANTS:

Ashbourne Self Assessment Services Ltd

3 Redberry Road

Kingsnorth

Ashford

Kent

TN23 3PE

FIXED ASSETS

Tangible assets

4

912

1,443

CURRENT ASSETS

Debtors

756

360

Cash at bank

31,967

37,032

32,723

37,392

CREDITORS

Amounts falling due within one year

14,688

18,652

NET CURRENT ASSETS

18,035

18,740

TOTAL ASSETS LESS CURRENT LIABILITIES

18,947

20,183

PROVISIONS FOR LIABILITIES

5

161

259

NET ASSETS

18,786

19,924

CAPITAL AND RESERVES

Called up share capital

6

1

1

Retained earnings

7

18,785

19,923

SHAREHOLDERS' FUNDS

18,786

19,924

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 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 September 2020 and were signed by:

Miss A L Phair - Director

1.	STATUTORY INFORMATION

PHAIR DESIGNS 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.

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

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 pays into a pension scheme. Contributions payable to the 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 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2019

and 31 December 2019

3,577

DEPRECIATION

At 1 January 2019

2,134

Charge for year

531

At 31 December 2019

2,665

NET BOOK VALUE

At 31 December 2019

912

At 31 December 2018

1,443

5.	PROVISIONS FOR LIABILITIES

31.12.19

31.12.18

£

£

Deferred tax

161

259

Deferred

tax

£

Balance at 1 January 2019

259

Utilised during year

(98

)

Balance at 31 December 2019

161

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.19

31.12.18

value:

£

£

1

Ordinary

1

1

1

7.

RESERVES

Retained

earnings

£

At 1 January 2019

19,923

Profit for the year

11,862

Dividends

(13,000

)

At 31 December 2019

18,785