Nails Plus Beauty Chepstow Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05761214 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

NAILS PLUS BEAUTY CHEPSTOW LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

L Clayton

SECRETARY:

Mrs P J Clayton

REGISTERED OFFICE:

Kings Chambers

Queens Cross

High Street

Dudley

West Midlands

DY1 1QT

REGISTERED NUMBER:

05761214 (England and Wales)

ACCOUNTANTS:

Saxon & Co.

Kings Chambers

Queens Cross

High Street

Dudley

West Midlands

DY1 1QT

FIXED ASSETS

Tangible assets

4

205

274

CURRENT ASSETS

Stocks

680

690

Cash at bank and in hand

13,668

3,581

14,348

4,271

CREDITORS

Amounts falling due within one year

5

5,291

2,839

NET CURRENT ASSETS

9,057

1,432

TOTAL ASSETS LESS CURRENT LIABILITIES

9,262

1,706

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

9,261

1,705

SHAREHOLDERS' FUNDS

9,262

1,706

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 December 2020 and were signed by:

L Clayton - Director

1.	STATUTORY INFORMATION

Nails Plus Beauty Chepstow 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 represents net invoiced sales of goods and services.

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

-

25% on reducing balance

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 Statement of Income and

Retained Earnings, 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 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

and 31 March 2020

7,072

DEPRECIATION

At 1 April 2019

6,798

Charge for year

69

At 31 March 2020

6,867

NET BOOK VALUE

At 31 March 2020

205

At 31 March 2019

274

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Taxation

2,956

417

Social security and other taxes

91

243

Directors' current accounts

94

409

Accrued expenses

2,150

1,770

5,291

2,839